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Stock Market & Financial Investment News

News Breaks
June 11, 2014
08:31 EDTTPCTutor Perini awarded $255M contract for Panorama Tower in MIami
Tutor Perini Corporation announced that its subsidiary, Tutor Perini Building Corp., has been selected as the general contractor and has signed a contract with Florida East Coast Realty, LLC, valued at approximately $255M for construction of the Panorama Tower at 1101 Brickell Avenue in Miami, Florida. The scope of work for the project includes construction of an 82-story mixed-use tower that will feature 821 luxury rental apartments, a 250-room hotel, 80,000 square feet of retail space, 40,000 square feet of office space, and a 13-story 1,500-space parking garage. The entire Panorama Tower development will comprise approximately 2.6 million square feet. The tower will also include a recreation deck with several pools, a fully equipped fitness area, a pool deck restaurant, and two social rooms. Pre-construction work began in January 2014. Construction is expected to start in June 2014 with substantial completion expected in late 2017. The company expects to include the value of this contract as part of its reported second-quarter backlog.
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September 29, 2014
12:47 EDTTPCTutor Perini unit awarded $112M contract
Tutor Perini announced that its subsidiary, Tutor Perini Building, has been awarded a contract valued at approximately $112M by the Santa Ynez Band of Chumash Indians for the expansion of the Chumash Casino Resort in Santa Ynez, California. The scope of work for the project includes construction of a hotel tower that will add 215 more rooms, a 20K-square-foot pool deck, a parking garage, expansion of the existing gaming floor, and additional food and beverage venues. Construction is scheduled to begin in October with substantial completion anticipated in 2016. The contract value is expected to be included as part of the company’s reported Q3 backlog.

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