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Granite Awarded $18 Million Contract for University of California, Santa Cruz Renewal Project

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Granite (NYSE:GVA) has secured an $18 million sub-contract from Swinerton for the University of California, Santa Cruz (UCSC) Kresge College Work Package #4. This project is part of a broader multi-year renewal initiative aimed at enhancing student enrollment while reducing local housing impact. The scope involves constructing retaining walls, relocating utilities, and renovating the North Bridge pedestrian walkway. Construction is set to begin in November 2020 and conclude in early 2022, with materials sourced from Granite's nearby Felton Facility.

Positive
  • Awarded $18 million sub-contract for UCSC Kresge College project, enhancing order backlog.
  • Continuing partnership with Swinerton, strengthening business relationships.
  • Supports UCSC's initiative to increase student enrollment while minimizing local housing market impacts.
Negative
  • None.

WATSONVILLE, Calif.--()--Granite (NYSE:GVA) announced today that it has been awarded a sub-contract by Swinerton for the University of California, Santa Cruz (UCSC) Kresge College Work Package #4. The $18 million contract is anticipated to be included in Granite's fourth quarter 2020 backlog.

This is the second project Granite has been awarded as part of UCSC’s multi-year Kresge College Renewal Project. Scope of work for Package #4 includes the construction of the retaining walls around four new buildings including the relocation of the sewer service, storm drain and detection cisterns, electrical power, and communications network. Granite will also renovate and update the North Bridge, a pedestrian walkway connecting the future academic plaza to Heller Drive.

“This is one of two campus projects designed to increase student enrollment while minimizing impacts to the local housing market,” said Granite Area Manager Penn Shortes. “We are pleased to continue our partnership with Swinerton and UCSC on their Kresge campus renewal project.”

Construction materials for the project including aggregates will be supplied by Granite’s nearby Felton Facility.

Construction is expected to begin in November 2020, and expected to conclude in early 2022.

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 provider in the transportation, water infrastructure and mineral exploration markets. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. In addition to being one of the World’s Most Ethical Companies for eleven consecutive years, 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 LinkedIn, Twitter, Facebook and Instagram.

Contacts

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Erin Kuhlman 831-768-4111
Investors
Lisa Curtis 831-728-7532

FAQ

What is the value of Granite's new contract for UCSC?

Granite's new contract for UCSC is valued at $18 million.

When is construction expected to start on the UCSC Kresge College project?

Construction is expected to begin in November 2020.

What is the completion timeline for the UCSC Kresge College project?

The project is expected to conclude in early 2022.

What does the UCSC Kresge College Work Package #4 include?

It includes constructing retaining walls, relocating sewer service, storm drain, electrical power, and renovating the North Bridge.

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