Tutor Perini Corporation Retained as Contractor for Hudson Yards Development in NYC

January 23, 2012

SYLMAR, Calif.--(BUSINESS WIRE)--Jan. 23, 2012-- Tutor Perini Corporation (NYSE: TPC) a leading civil and building construction company, announced that it has been retained by Related Companies and Oxford Properties Group as contractor for the Hudson Yards development in Midtown Manhattan. Tutor Perini has also been retained for the construction of a residential tower being developed just south of the Hudson Yards on 30^th Street and 10^th Avenue in New York City. The project will be booked into backlog as various phases are released.

Hudson Yards is a 26-acre mixed-use development accommodating over 13 million square feet of commercial and residential space. The master plan comprises approximately 5,000 residences, 6 million square feet of state-of-the-art commercial office space, a 1 million square foot destination retail center with an over 130,000 square foot two-level space of specialty destination restaurants, cafes, markets and bars, a five star hotel, a unique cultural space, and a new 750-seat school, all carefully planned around 14 acres of public open space. Physical construction operations are scheduled to begin mid-2012.

Ronald N. Tutor , Chairman and CEO of Tutor Perini said, “We are thrilled to be playing a role in the historic Hudson Yards development and partnering with Related Companies and Oxford Properties. Our experience and expertise in significant mixed-use developments makes us an ideal fit for the creation of New York’s next great neighborhood.”

Tutor Perini has a longstanding reputation of successful projects in the New York vicinity. Notable projects include the Resorts World Casino, recently completed for Genting Berhad, the Greenwich Street Corridor Project at World Trade Center, JFK Airport Runway Reconstruction, Airtrain Terminal at Jamaica Station, Hudson Bergen Light Rail Transit System, Mohegan Sun and Foxwood Resorts.