AECOM selected as Lead Designer for the Bronx River Parkway Bridge Replacement Project

Rhea-AI Summary

AECOM (NYSE:ACM) has been selected as Lead Designer for the Bronx River Parkway Bridge Replacement Project by the New York State Department of Transportation (NYSDOT). The project, supported by over $200 million from the Infrastructure Investment and Jobs Act, aims to replace two bridges built in 1951 with modern structures. AECOM will provide comprehensive design and engineering services for the replacement and widening of the bridges, incorporating a new shared-use path and a dedicated southbound exit ramp.

The new bridges will feature redundant steel girders, stainless-steel reinforced concrete decks, and concrete piers to reduce maintenance costs and enhance resilience. The project also includes stormwater drainage facilities, ADA-compliant improvements, and resurfacing of nearby roads. This initiative is expected to improve safety, resiliency, and traffic flow for tens of thousands of daily commuters.

Positive

• Secured a major contract as Lead Designer for the Bronx River Parkway Bridge Replacement Project
• Project supported by over $200 million in funding from the Infrastructure Investment and Jobs Act
• Opportunity to showcase AECOM's expertise in high-performance, urban bridge projects
• Potential for long-term benefits from reduced maintenance costs of new bridge designs

Negative

• None.

Insights

Infrastructure Engineer

This project represents a significant infrastructure upgrade for the Bronx area. The replacement of two aging bridges, built in 1951, with modern structures is important for enhancing safety and improving traffic flow. The incorporation of a new shared-use path connecting to the Bronx River Greenway and a dedicated southbound exit ramp are smart additions that will alleviate congestion and promote multimodal transportation.

The focus on resilience against climate change and reduced long-term maintenance costs through the use of redundant steel girders, stainless-steel reinforced concrete decks and fewer bridge joints is commendable. These design choices align with best practices in modern infrastructure development and should result in a more durable and cost-effective solution over time.

The project's scope, including stormwater drainage improvements and ADA compliance upgrades, demonstrates a comprehensive approach to urban infrastructure renewal. This holistic strategy will likely yield significant benefits for local residents and commuters alike.

Financial Analyst

This contract win is a positive development for AECOM, reinforcing its position in the infrastructure consulting sector. The project, partially funded by the Infrastructure Investment and Jobs Act with over $200 million, represents a significant revenue opportunity. While the exact contract value for AECOM isn't disclosed, design-build projects typically offer higher margins compared to traditional consulting work.

AECOM's selection as Lead Designer showcases its strong capabilities and reputation in complex urban infrastructure projects. This high-profile project could lead to future contract wins and strengthen AECOM's relationship with NYSDOT, potentially resulting in a steady pipeline of projects in the region.

Investors should note that such large-scale, long-term projects can provide revenue visibility and stability. However, it's important to monitor project execution, as any delays or cost overruns could impact profitability and reputation.

DALLAS--(BUSINESS WIRE)-- AECOM (NYSE:ACM), the world’s trusted infrastructure consulting firm, announced today that it has been selected as Lead Designer, as part of the Yonkers Contracting Company, Inc.-AECOM design-build team, for the replacement of two bridges along the Bronx River Parkway by the New York State Department of Transportation (NYSDOT). The project aims to replace both bridges, built in 1951 and nearing the end of their service lives, with modern structures to enhance safety and improve resiliency and traffic flow between East Tremont Avenue and Bronx Park, a vital roadway serving tens of thousands of daily commuters. This contract is supported in part by over $200 million in funding provided through the Infrastructure Investment and Jobs Act.

“The Bronx River Parkway bridge replacement project will serve a crucial role in meeting 21^st century infrastructure demands and improving connections across boroughs,” said Mark Southwell, chief executive of AECOM’s global transportation business. “Our leading expertise in high performance, urban bridge projects across the globe position us well to support NYSDOT’s ongoing commitment to create a more resilient transportation network that connects communities, protects the environment and supports the economic well-being of New York State.”

As the Lead Designer, AECOM will provide comprehensive design and engineering services to support the replacement and widening of the Bronx River Parkway South and Northbound bridges over East Tremont Avenue, East 180th Street, Morris Park Avenue and the NYC Transit Authority's 180^th Street Rail Yard. The project will also incorporate a new shared-use path connecting cyclists and pedestrians to the Bronx River Greenway, along with a dedicated southbound exit ramp to East 177th Street aimed at alleviating traffic congestion. These new bridges will feature redundant steel girders, stainless-steel reinforced concrete decks, concrete piers, fewer bridge joints, and other enhancements designed to reduce long-term maintenance costs and strengthen resilience against the effects of climate change and severe weather.

“As NYSDOT modernizes critical roadway infrastructure, we’re proud to support them with deep expertise in resilient design and state-of-the-art BIM modeling technologies to help ensure a timely delivery and lasting local benefits,” said Bane Gaiser, chief executive of AECOM’s U.S. East and Latin America region. “Our multi-decade track record of success with NYSDOT includes key highway improvements across New York City and encompasses some of the nation’s most impressive design-build projects, such as the Governor Mario M. Cuomo Bridge—one of the largest bridge projects in New York state history.”

“We look forward to utilizing our vast transportation resources in New York including our award-winning bridge design expertise to help deliver these complex new structures,” said Wahid Albert, AECOM’s New York Metro Highway-Bridge market sector leader. “To address highly difficult construction and traffic maintenance requirements, our team has developed innovative design solutions that will result in providing safe, efficient, and durable structures for the 21^st century.”

The project will also include the installation of new stormwater drainage facilities and updated curbs, ramps, and sidewalks to ensure compliance with the Americans with Disabilities Act standards. Additionally, Morris Park Avenue from East 180th Street to Melville Street will be resurfaced, along with sections of the Bronx River Parkway adjacent to and between the bridges undergoing replacement.

About AECOM
AECOM (NYSE: ACM) is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from advisory, planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy, and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical and digital expertise, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $14.4 billion in fiscal year 2023. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.

Forward-Looking Statements
All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, capital allocation strategy including stock repurchases, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; potential government shutdowns or other funding circumstances that may cause governmental agencies to modify, curtail or terminate our contracts; losses under fixed-price contracts; limited control over operations that run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; potential high leverage and inability to service our debt and guarantees; ability to continue payment of dividends; exposure to political and economic risks in different countries, including tariffs, geopolitical events, and conflicts; currency exchange rate and interest fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; managing pension costs; AECOM Capital real estate development projects; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of the sale of our Management Services and self-perform at-risk civil infrastructure, power construction and oil and gas businesses, including the risk that any purchase adjustments from those transactions could be unfavorable and result in any future proceeds owed to us as part of the transactions could be lower than we expect; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240812485341/en/

Media Contact:

Brendan Ranson-Walsh

Senior Vice President, Global Communications

1.213.996.2367

Brendan.Ranson-Walsh@aecom.com

Investor Contact:

Will Gabrielski

Senior Vice President, Finance, Treasurer

1.213.593.8208

William.Gabrielski@aecom.com

Source: AECOM

FAQ

What is the Bronx River Parkway Bridge Replacement Project that AECOM (ACM) is involved in?

AECOM (ACM) has been selected as Lead Designer for the replacement of two bridges along the Bronx River Parkway by the New York State Department of Transportation. The project aims to replace bridges built in 1951 with modern structures to enhance safety and improve resiliency and traffic flow.

How much funding is supporting the Bronx River Parkway Bridge Replacement Project involving AECOM (ACM)?

The Bronx River Parkway Bridge Replacement Project, for which AECOM (ACM) is the Lead Designer, is supported in part by over $200 million in funding provided through the Infrastructure Investment and Jobs Act.

What specific design features will AECOM (ACM) incorporate in the new Bronx River Parkway bridges?

AECOM (ACM) will design the new bridges with redundant steel girders, stainless-steel reinforced concrete decks, concrete piers, fewer bridge joints, and other enhancements to reduce long-term maintenance costs and strengthen resilience against climate change and severe weather.

What additional improvements will be part of the Bronx River Parkway Bridge Replacement Project involving AECOM (ACM)?

The project will include a new shared-use path connecting to the Bronx River Greenway, a dedicated southbound exit ramp, new stormwater drainage facilities, ADA-compliant curbs, ramps, and sidewalks, and resurfacing of nearby roads including sections of Morris Park Avenue and the Bronx River Parkway.