Tutor Perini Lands Manhattan ProjectFriday, March 29, 2013
Tutor Perini Building Corp. was chosen to construct a 47-story mixed-use development in Manhattan, the company said Thursday.
The firm, a subsidiary of Sylmar construction firm Tutor Perini Corp., was awarded the contract to build the South Tower at Hudson Yards, a 26-acre redevelopment of rail yards near the Hudson River in Midtown Manhattan.
Luxury leather goods company Coach Inc. has already signed on to be a tenant in the 1.7 million-square-foot building. The project is backed by New York real estate developer Related Cos. and Toronto real estate investment firm Oxford Properties Group.
“We are pleased to be moving forward with construction of the South Tower at Hudson Yards,” said Craig Shaw, chief executive of Tutor Perini Building Corp., in a statement.
Hudson Yards will comprise 6 million square feet of commercial space, 5,000 residences, a new public school and a luxury hotel.
Tutor Perini will be involved with additional projects at the development. Shaw said the company expects to begin that work later this year.
Financial terms of the contract were not disclosed.
Share of Tutor-Perini rose 17 cents, or less than 1 percent, to close at $19.30 on the New York Stock Exchange.