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AECOM to serve as owner’s engineer for the Toronto Transit Commission’s Bloor-Yonge Capacity Improvements project
Rhea-AI Impact
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Rhea-AI Summary
AECOM (NYSE: ACM) has secured a contract with the Toronto Transit Commission (TTC) as the owner’s engineer for the Bloor-Yonge Capacity Improvements (BYCI) project. This initiative aims to modernize and expand one of the busiest transit hubs in North America, enhancing ridership capacity and accessibility. AECOM will deliver consulting services across all project phases, leveraging lean project delivery and digital solutions. The project addresses growing service demand due to population growth and transit expansion efforts in Toronto.
Positive
Award of a significant contract for the Bloor-Yonge Capacity Improvements project.
Expertise in implementing lean project delivery and building information modeling.
Long-term relationship with TTC, enhancing credibility and trust.
Focus on improving accessibility and customer experience.
Project expected to meet growing ridership demand due to population growth.
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DALLAS--(BUSINESS WIRE)--
AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, announced today it has been awarded a contract by the Toronto Transit Commission (TTC) to serve as owner’s engineer for the Bloor-Yonge Capacity Improvements (BYCI) project. In this role, AECOM is expected to provide consulting services – including the utilization of lean project delivery and building information modeling – through all phases of the project, which aims to expand and modernize the transit hub to accommodate current and future ridership, improve accessibility and safety features, and enhance the customer experience.
“Bloor-Yonge Station is a critical interchange – the busiest in Toronto’s subway system and one of the busiest in North America – and we’re thrilled to help deliver these important improvements for the community,” said Marc Devlin, chief executive of AECOM’s Canada region. “We’re proud to have delivered a diverse range of infrastructure projects as a trusted service provider to the TTC since 1979, including over ten years on the BYCI project, and are pleased to implement our deep understanding of their collaborative delivery approach, design standards, and operating procedures to help them see this vital project through to completion.”
Initially constructed in 1953, Bloor-Yonge Station is expected to experience significant ridership demand due to population growth in the Toronto area and the implementation of planned transit expansion initiatives. The BYCI project seeks to improve service levels for TTC customers by constructing a new Line 2 passenger platform, expanding both Line 1 passenger platforms, improving accessibility and safety, and enhancing the concourse level, entrances, and exits.
“The BYCI project is a monumental next step in improving service levels and addressing ridership growth from within and outside the City of Toronto,” said Sean Chiao, chief executive of AECOM’s global Buildings + Places business. “We look forward to serving as the TTC’s righthand advisor in this role to help them realize this exciting undertaking. We’re proud to work in partnership with our clients, like the TTC, to deliver industry firsts, create sustainable outcomes, implement digital solutions, and improve mobility for communities around the globe.”
AECOM is expected to provide services to the TTC through all project phases, including detailed design, procurement, construction, commissioning, handover, and close-out. The firm’s scope is anticipated to include advisory services in the implementation of the delivery model, training and application of lean project delivery and BIM, development of project specific output specification, estimating and costing services, design document review, and other services in support of the project, including specific design assignments, as requested.
About AECOM
AECOM (NYSE: ACM), is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from 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 expertise and innovation, 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 $13.3 billion in fiscal year 2021. 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, coronavirus impacts, 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; impacts caused by the coronavirus and the related economic instability and market volatility, including the reaction of governments to the coronavirus, including any prolonged period of travel, commercial or other similar restrictions, the delay in commencement, or temporary or permanent halting of construction, infrastructure or other projects, requirements that we remove our employees or personnel from the field for their protection, and delays or reductions in planned initiatives by our governmental or commercial clients or potential clients; losses under fixed-price contracts; limited control over operations 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; currency exchange rate and interest fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and inadequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital’s real estate development; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of various dispositions such as the sale of our Management Services, self-perform at-risk civil infrastructure, power construction, and oil and gas construction businesses, including the risk that purchase price adjustments, if any, from those transactions could be unfavorable and any future proceeds owed to us as part of those 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.
What is the Bloor-Yonge Capacity Improvements project by ACM?
The Bloor-Yonge Capacity Improvements project aims to modernize and expand Toronto's busiest subway station to enhance capacity, accessibility, and safety.
When was ACM awarded the contract for the BYCI project?
AECOM was awarded the contract for the Bloor-Yonge Capacity Improvements project recently in October 2022.
What services will ACM provide for the TTC under the new contract?
AECOM will provide consulting services including detailed design, construction management, and project-specific advisory services.
How does the BYCI project benefit the Toronto Transit Commission?
The BYCI project aims to improve service levels, accommodate future ridership growth, and enhance the overall customer experience at Bloor-Yonge Station.
What is the significance of Bloor-Yonge Station in Toronto?
Bloor-Yonge Station is the busiest interchange in Toronto’s subway system and one of the busiest in North America.
