Residential elevator cost: $3.25 per sq ft in Mill Creek section
Residential elevator costs vary depending on the location, type and type of elevator installed, but in Mill River, they range from $3 per sq foot in the rear section of the house to more than $1 per sq. ft in the front.
Residents can usually get by with less than $300 per square foot.
But when you add up the cost of the maintenance, maintenance fees, and other costs, residential elevator costs in Mill creek section are nearly triple that amount.
Residents have reported that the cost has increased by up to 30 per cent.
The average monthly maintenance bill for the area, however, is less than one cent per square metre.
The Mill Creek Housing Authority, a government-owned cooperative housing agency, is planning to upgrade the residential housing, which will bring a cost of $15 per sqft.
The project is expected to be completed in three to four years, according to the board’s president, K.J. Srivastava.
The housing board said the upgrade would bring the average monthly cost to $1,000, but it’s unclear if the new units will have all of the amenities and amenities in the original units.
Srivastav said he believes the upgrade will be completed within the year, but the board will also be considering building new residential housing to accommodate the new residential upgrades.
“We are going to start from scratch, but we are going with the lowest cost option, as per the Board’s recommendation,” he said.
“It’s not going to be the cheapest option, but if the Board feels that there is an issue with the existing housing, they will be more willing to address it.
A previous update to this article indicated that the Mill Creek housing authority had not responded to requests for comment from The Hindu.