The UC Board of Regents approved an $18 million reduction in the budget for the renovation of Hedrick Hall on Tuesday, a reflection of declining construction costs caused by the recession.
Previously estimated at about $45 million, the project has been scaled down to $26.5 million. Funds cover the replacement and repair of fire alarms and elevators, along with mechanical, electrical and plumbing issues. Windows and rooms will also be revamped, with room interiors being outfitted with vinyl wall covers, new carpeting and wood-stained doors, according to the Office of Residential Life.
A new heating system has already been completed, and work on other systems will continue throughout the year.
Housing revenues collected from students support the cost of renovation. The hall is scheduled to reopen for residents in fall 2011.
Many UCLA construction projects are seeing decreasing costs as the construction market contracts. That could lead to a future adjustment in student housing fees, according to Steve Olsen, vice chancellor of finance and budget.
“(The reductions) will over time moderate what students have to pay,” Olsen said.
As a result, UCLA will be able to do better improvements, he said.
Construction firms will submit bids for projects around campus. The process is competitive because UCLA will accept the lowest bids possible.
Hedrick Hall is a relatively low-cost project because it only consists of a renovation, Olsen said. The project was 10 percent complete as of Sept. 1, according to an action item provided to the UC Board of Regents.
The item was a routine approval for the regents, who will be seeing more approvals of lower-cost construction projects from UCLA down the road, Olsen said.
The UC Board of Regents will continue its bimonthly meeting tomorrow through Thursday at UC San Francisco.