NEW YORK--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC), a leading civil and building construction company, announced today that it has been awarded contracts by Related Companies and Oxford Properties Group for the construction of 15 Hudson Yards (Tower D) and The Shops & Restaurants (Retail Complex) at Hudson Yards in New York. The total construction value to be managed by Tutor Perini for both structures is approximately $1.2 billion. The Company’s portion of the Tower D contract was booked into backlog in the fourth quarter of 2015 and its portion of the Retail Complex contract will be booked into backlog in the first quarter of 2016.
15 Hudson Yards, the first residential building at Hudson Yards, will be located at the northeast corner of 10th Avenue and 30th Street. The 70-story, 960,000 square-foot, multi-unit residential building will feature 391 for-sale and rental residences, onsite amenities such as an Equinox® Fitness Club, and extensive social and entertaining venues. The building is scheduled to open in 2018.
The Retail Complex is a 7-story, 1 million square-foot retail center that will be home to The Shops & Restaurants at Hudson Yards and will be anchored by Neiman Marcus’ New York City debut store among a collection of more than 100 shops with international roots and global appeal. In addition, a collection of restaurants will offer an assortment of the best chef-driven eateries and an unrivaled array of international cuisines amid stunning visual surroundings under one roof. The Retail Complex is also scheduled to open in 2018.
Craig Shaw, Executive Vice President and CEO of Tutor Perini’s Building Group, said, “We are proud to be working with Related and Oxford on the Hudson Yards development, the largest privately funded development project in U.S. history, and we are pleased to continue our work on the newest Hudson Yards buildings currently under construction.”
About Tutor Perini Corporation
Tutor Perini Corporation is a leading civil and building construction company offering diversified general contracting and design-build services to private clients and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large complex projects on time and within budget while adhering to strict quality control measures.