Tutor Perini Wins Whopper of a Contract at NYC’s Hudson Yards Project
- Mar 17, 2016
By Barbra Murray, Contributing Editor
New York—It’s a big one. Well, two big ones. Tutor Perini Corp. has been tapped by Related Cos. and Oxford Properties Group, masterminds behind the massive Hudson Yards mixed-use project on Manhattan’s West Side, to construct two buildings at the $20 billion development. The civil and building construction company will erect 15 Hudson Yards and The Shops & Restaurants at Hudson Yards—projects totaling nearly 2 million square feet—under contracts totaling roughly $1.2 billion.
Tutor Perini will have its hands full at the 17 million-square-foot Hudson Yards, the largest privately funded development project in U.S. history. Also referred to as Tower D, the 960,000-square-foot 15 Hudson Yards will be the first residential building at the property, and at 900 feet in height, it will be one of the tallest residential buildings in New York. Designed by Diller Scofidio + Renfro and David Rockwell in collaboration with Ismael Leyva Architects, the 70-story 15 Hudson will offer 391 condominium and rental units.
Tutor Perini will also build The Shops & Restaurants, Hudson Yard’s 1 million-square-foot retail complex. The seven-story structure, designed by Elkus Manfredi Architects, will encompass a vast array of restaurants and more than 100 retail shops, with Neiman Marcus’ inaugural New York City store serving as its anchor.
Related and Oxford are prepared to hold up their end of the arrangement. In December 2015, the partners announced they had secured $1.3 billion in financing for 15 Hudson, and closed on more than $5 billion in financing for The Shops & Restaurants and 30 Hudson Yards, the mixed-use development’s flagship office building.
There’s a lot going on at Hudson Yards, and Tutor Perini is leaving more than a few of its fingerprints on the gargantuan project. The company landed the $60 million contract to build a replacement Maintenance of Equipment building on the property in early 2014, and just months before, Tutor Perini’s Civil Group was awarded the construction contract for a $510 million platform structure.
Tutor Perini is on track to complete construction of both the residential building and the retail complex in 2018.