Roy Anderson Corp. Awarded $61 Million Contract for 225 Baronne Mixed-Use Development Project
November 13, 2013
SYLMAR, Calif.--(BUSINESS WIRE)--Nov. 13, 2013-- Tutor Perini Corporation (NYSE: TPC), a leading civil and building construction company, today announced that its subsidiary, Roy Anderson Corp., has been awarded a contract by HRI Properties for construction of the 225 Baronne Mixed-Use Development Project, including luxury apartments and a hotel in New Orleans, Louisiana. The contract is valued at $61.3 million.
The project involves the conversion of an existing 31-story office building into a mixed-use development. The development will consist of 192 apartment units of mixed-income housing, a 188-room hotel, and a 356-space public parking garage. The project will include an on-site property management office, a multi-purpose room, an exercise room, roof-top swimming pools, and covered bicycle parking. Also included in the development is the demolition of the 919 Gravier Building and the construction of an enclosed structural steel parking garage ramp on the 919 Gravier Building lot to provide access to the parking garage levels in the 225 Baronne Street Building.
Construction is expected to begin in November 2013 and substantial completion is expected in December 2014. The contract value will be included in the Company’s reported fourth-quarter backlog.