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Rudolph and Sletten Awarded $54 Million to Complete The Rise Koreatown Mixed-Use Project

11/09/20

LOS ANGELES--(BUSINESS WIRE)--

Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that its subsidiary, Rudolph and Sletten, has been awarded $54 million to complete a mixed-use project in Los Angeles.

Located along Eighth Street, Oxford Avenue and Serrano Avenue in Los Angeles, The Rise Koreatown is being developed by Florida-based Rescore Property Corp. Designed by Nadel Architecture, the project is a seven-story mixed-use complex with 364 rental apartment units in five levels over one level of parking and a 52,000 square-foot ground floor retail area. There are three levels of subterranean parking adding to the project total of 798,000 square feet.

Rudolph and Sletten replaced another general contractor who was transitioned off the job. Rudolph and Sletten resumed construction in July 2020 with completion scheduled for November 2021. The overall project value is $101 million; Rudolph and Sletten’s contract value is $54 million, the remaining amount to complete the project. The contract value was included in the Company’s third-quarter 2020 backlog.

This is Rudolph and Sletten’s first project with Rescore and its fifth project replacing an underperforming contractor.

About Rudolph and Sletten

In the last six decades, Rudolph and Sletten has constructed more than 3,000 projects across our five California offices, from research centers designed to cure diseases, to institutions that educate future generations of leadership. As we’ve grown, we’ve built all aspects of life science, higher education, health care, high-tech, government and everything in between. Our success is owed to our diverse, talented personnel combined with our technological expertise, honest estimates, innovative schedules and ethical business practices. Headquartered in San Carlos, Rudolph and Sletten has regional offices in Roseville, Irvine, Los Angeles and San Diego, California.

About Tutor Perini Corporation

Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private clients and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget while adhering to strict quality control measures.

Tutor Perini Corporation
Jorge Casado, 818-362-8391
Vice President, Investor Relations and Corporate Communications
www.tutorperini.com

Source: Tutor Perini Corporation

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