Rudolph and Sletten Awarded $54 Million to Complete The Rise Koreatown Mixed-Use Project
November 09 2020 - 6:00AM
Business Wire
Tutor Perini Corporation (NYSE: TPC) (the
“Company”), a leading civil, building and specialty construction
company, announced today that its subsidiary, Rudolph and Sletten,
has been awarded $54 million to complete a mixed-use project in Los
Angeles.
Located along Eighth Street, Oxford Avenue and
Serrano Avenue in Los Angeles, The Rise Koreatown is being
developed by Florida-based Rescore Property Corp. Designed by Nadel
Architecture, the project is a seven-story mixed-use complex with
364 rental apartment units in five levels over one level of parking
and a 52,000 square-foot ground floor retail area. There are three
levels of subterranean parking adding to the project total of
798,000 square feet.
Rudolph and Sletten replaced another general
contractor who was transitioned off the job. Rudolph and Sletten
resumed construction in July 2020 with completion scheduled for
November 2021. The overall project value is $101 million; Rudolph
and Sletten’s contract value is $54 million, the remaining amount
to complete the project. The contract value was included in the
Company’s third-quarter 2020 backlog.
This is Rudolph and Sletten’s first project
with Rescore and its fifth project replacing an underperforming
contractor.
About Rudolph and Sletten
In the last six decades, Rudolph and Sletten
has constructed more than 3,000 projects across our five California
offices, from research centers designed to cure diseases, to
institutions that educate future generations of leadership. As
we’ve grown, we’ve built all aspects of life science, higher
education, health care, high-tech, government and everything in
between. Our success is owed to our diverse, talented personnel
combined with our technological expertise, honest estimates,
innovative schedules and ethical business practices. Headquartered
in San Carlos, Rudolph and Sletten has regional offices in
Roseville, Irvine, Los Angeles and San Diego, California.
About Tutor Perini Corporation
Tutor Perini Corporation is a leading civil,
building and specialty 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201109005117/en/
Tutor Perini Corporation Jorge Casado, 818-362-8391 Vice
President, Investor Relations and Corporate Communications
www.tutorperini.com
Tutor Perini (NYSE:TPC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Tutor Perini (NYSE:TPC)
Historical Stock Chart
From Sep 2023 to Sep 2024