LOS ANGELES--(BUSINESS WIRE)--AECOM (NYSE:ACM), a premier, fully integrated global infrastructure firm, announced today that its Tishman Construction unit will manage construction of One Vanderbilt, a world-class commercial office development in Manhattan. Tishman, a legendary builder in the New York market, will construct One Vanderbilt for New York City’s largest commercial property owner, SL Green Realty Corp. The 1,401-foot tall skyscraper is designed by Kohn Pedersen Fox (KPF) and located in the heart of New York’s East Midtown business district. The project was previously included in AECOM's backlog reported in the first quarter of fiscal year 2016.
One Vanderbilt will stand directly adjacent to Grand Central Terminal, which is one of the busiest rail stations in the world. The 58-story building will include 1.6 million square feet of Class A commercial space, a public transit hall at the base of the building connected to a 14,000 square foot public plaza, and US$220 million of public transit improvements to the Grand Central transit hub. When One Vanderbilt is completed, it is expected to be the second-tallest office tower in New York City — making Tishman the builder for the two tallest office towers in New York City, including One World Trade Center, the tallest building in the Western Hemisphere.
“As the quintessential New York builder, we are proud that SL Green is entrusting us to build this iconic structure that will help reshape the skyline,” said Michael S. Burke, chairman and chief executive officer of AECOM. “We are excited to extend our expertise in delivering the highest-performance buildings as part of the dramatic transformation underway in Midtown East, one of the premier business districts in the world.”
The building is designed to pay homage to the landmarked Terminal and fit seamlessly into the skyline with the Chrysler Building, its neighbor only one block away. It is also expected to be LEED v4 Gold Certified, indicating that it will be built with sustainability in mind. The total value of construction for the project is approximately US$1 billion.
Primary construction is scheduled to begin in 2016 and is expected to be completed in 2020.
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Forward-Looking Statements: All statements in this press release other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including statements relating to the timing and costs associated with the One Vanderbilt project as well as future economic and industry conditions. Actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause actual results to differ materially from our forward-looking statements are set forth in our quarterly report on Form 10-Q for the fiscal quarter ended March 31, 2016, and our other reports filed with the U.S. Securities and Exchange Commission. AECOM does not intend, and undertakes no obligation, to update any forward-looking statements.