FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC), a leading civil and building construction company, announced today that its subsidiary, Tutor Perini Building Corp., has been selected as the general contractor for two luxury residential towers in Miami Beach. The contract is valued at approximately $140 million.
The first tower will feature the redevelopment of an existing 16-story historic tower into a 22-unit ultra-luxury condominium tower, including all public and back-of-house areas, spa & fitness center, retail, and landscaping.
The second, adjacent tower will consist of a new 18-story tower featuring 41 luxury residential units, public and back-of-house areas, a spa and fitness center, swimming pool, spa pool, decks, landscaping, and an onsite underground parking area for approximately 190 cars.
Pre-construction is currently underway and construction is expected to begin in October 2015 with substantial completion expected for both towers in the third quarter of 2017. The contract value is expected to be included in the Company’s reported fourth-quarter backlog.
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.