GVA Granite Construction Incorporated

Granite and King County Metro Announce Atlantic Base Refurbishment Project

(NYSE: GVA) announced the commencement of the approximately $45 million Atlantic Base Refurbishment (ABR) project in Seattle, Washington. This comprehensive initiative aims to modernize and enhance the infrastructure of King County Metro’s (KCM) six-acre trolley bus parking and maintenance facility.

“The project delivery method chosen by KCM has facilitated a collaborative environment, enabling all project stakeholders to work together effectively,” said Mike Stein, Granite Vice President of Regional Operations. “This partnership has successfully reached the Maximum Allowable Construction Cost (MACC) milestone, marking the transition from pre-construction to the construction phase.”

This project will replace all concrete paving and underground infrastructure, including storm drainage, sanitary sewer, industrial waste, and buried power lines, as well as rehabilitating underground storage tanks. Additionally, the existing overhead catenary system will be upgraded to support KCM’s expanding electric trolley fleet.

The ABR project will be executed in multiple phases to ensure the uninterrupted operation of KCM’s Atlantic Base. This initiative is a significant step towards Granite’s sustainability goals, aligning with KCM’s commitment to transitioning to a zero-emissions fleet by 2035. This transition will significantly reduce reliance on fossil fuels and position KCM as one of the first large transit agencies in North America to achieve a fully zero-emissions fleet.

The project is expected to begin in January 2025 and be completed in March 2027.

Watch this video to learn more about Granite’s Alternative project delivery:

About Granite

Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, , and connect with Granite on , , , and .

EN
10/10/2024

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Granite Construction Incorporated

Dave Nicoski ... (+2)
  • Dave Nicoski
  • Ross LaDuke
ACM AECOM
EME EMCOR GROUP ... (+22)

Vermilion Compass: Weekly Equity Strategy

Bullish Outlook Focused on Large- and Mid-Caps Considering constructive market dynamics and the recent S&P 500 (SPX) breakout above 5783 following several months of consolidation, we upgraded our outlook to bullish as of last week's U.S. Macro Vision report (10/15/24). Since late-July, we have been neutral on the SPX, preferring to buy near 5100-5200 support and sell near 5670-5783 resistance until there is a break in either direction. The verdict of the market is the only one that matters, and...

 PRESS RELEASE

Granite Launches Major Infrastructure Project to Enhance SR 58/SR 99 I...

WATSONVILLE, Calif.--(BUSINESS WIRE)-- (NYSE:GVA) has been awarded an approximately $27 million contract by the City of Bakersfield to enhance the connectivity and efficiency of the State Route 58/State Route 99 (SR 58/SR 99) interchange in Bakersfield. Project funding is to come from the City of Bakersfield and the Thomas Roads Improvement Program (TRIP) and was included in Granite’s third-quarter CAP. The project includes the widening the bridge over SR 99, which will be added to the existing east bound SR 58 bridge. A new bridge will also be built spanning Wible Road, connecting directly t...

 PRESS RELEASE

Granite Announces Timing of Earnings Release and Investor Conference C...

WATSONVILLE, Calif.--(BUSINESS WIRE)-- (NYSE: GVA) will release financial results for the quarter ended September 30, 2024, before market opens on Thursday, October 31, 2024. The Company will host an investor conference call at 8:00 a.m. PT, Thursday, October 31, 2024. The Company invites investors to listen to a live audio webcast of the investor conference call on its Investor Relations website, . The investor conference call will also be available by calling 1-877-328-5503; international callers may dial 1-412-317-5472. An archive of the webcast will be available on Granite’s Investor Rel...

 PRESS RELEASE

Granite and King County Metro Announce Atlantic Base Refurbishment Pro...

WATSONVILLE, Calif.--(BUSINESS WIRE)-- (NYSE: GVA) announced the commencement of the approximately $45 million Atlantic Base Refurbishment (ABR) project in Seattle, Washington. This comprehensive initiative aims to modernize and enhance the infrastructure of King County Metro’s (KCM) six-acre trolley bus parking and maintenance facility. “The project delivery method chosen by KCM has facilitated a collaborative environment, enabling all project stakeholders to work together effectively,” said Mike Stein, Granite Vice President of Regional Operations. “This partnership has successfully reache...

 PRESS RELEASE

Granite Announces $34 Million Seismic Improvement Project at Oakland I...

WATSONVILLE, Calif.--(BUSINESS WIRE)-- (NYSE: GVA) has announced the signing of a $34 million contract to implement seismic improvements to the Oakland International Airport (OAK) Perimeter Dike. This critical infrastructure project is designed to protect the airport runway from water intrusion from the adjacent San Francisco Bay. Project funding comes in part from the Federal Aviation Administration (FAA) and will be included in Granite’s third-quarter CAP. The primary objective of this project is to enhance the seismic resilience of 4,200 LF of the OAK perimeter dike by utilizing a cement ...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch