Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that the Port Authority of New York and New Jersey’s Board of Commissioners has voted to authorize the award of a $1.871 billion contract to Tutor Perini Corporation to construct the Staging and Storage Facility and Ramp Structure components of the Midtown Bus Terminal Redevelopment Program in New York City. The scope of work includes construction of a new modern seven-floor steel-clad storage and staging facility located between 9th and 10th Avenues and between West 39th and West 40th Streets, which will accommodate indoor storage for up to 350 buses and will serve as a temporary bus terminal during future construction of a new main bus terminal. The project scope also includes construction of an innovative ramp structure encompassing the block bounded by 10th and 11th Avenues and 39th and 40th Streets, which will allow buses to move into and out of the above-grade bus levels of the replacement facility to and from the Lincoln Tunnel.

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Rendering of the Ramp Structure and Staging and Storage Facility (Source: Port Authority of New York and New Jersey)

“We are excited to be a part of this transformational project, which will significantly improve the quality of life and regional transportation for commuters throughout the New York City metropolitan region,” said Gary Smalley, Chief Executive Officer and President of Tutor Perini. “Tutor Perini has a long and successful track record of partnering with the Port Authority to deliver large, complex transportation infrastructure projects, including most recently Newark Liberty International Airport’s Terminal A. We look forward to continuing to partner with this important customer to successfully deliver this latest project.”

Work is expected to begin in the fall of 2025 with completion of the currently scheduled and funded work anticipated in the fall of 2028. The contract value will be added to the Company’s backlog in the second quarter of 2025.

For further information regarding the Midtown Bus Terminal Redevelopment Program, please click here.

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 customers 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 safety and quality control measures. We offer general contracting, pre-construction planning and comprehensive project management services, and have strong expertise in delivering design-bid-build, design-build, construction management, and public-private partnership (P3) projects. We often self-perform multiple project components, including earthwork, excavation, concrete forming and placement, steel erection, electrical, mechanical, plumbing, heating, ventilation and air conditioning (HVAC), and fire protection.

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