Granite Secures $28 Million Interchange Access Ramp Project in Redmond, Washington

Rhea-AI Summary

Granite (NYSE:GVA) has secured a contract worth approximately $28 million from the Washington State Department of Transportation for the construction of the 148th Ave. NE Interchange Access Ramp in Redmond, Washington. This project is set to enhance traffic flow and pedestrian safety by providing a direct connection to new arterials. The construction, involving a 125-foot cut and cover precast tunnel, is expected to commence in September 2021 and conclude by November 2022, contributing to Granite's second-quarter project commitments.

Positive

• Secured a $28 million contract from WSDOT, enhancing future revenue.
• Project aims to improve traffic flow and pedestrian safety in Redmond.
• Strengthens relationships with key governmental bodies.

Negative

• Projected completion extended to November 2022, indicating a longer project timeline.

Granite (NYSE:GVA) announced it has been awarded the contract to construct the 148^th Ave. NE Interchange Access Ramp in downtown Redmond, Washington by the Washington State Department of Transportation (WSDOT). The approximately $28 million award is anticipated to be included in Granite’s second quarter committed and awarded projects.

The new access ramp will provide a direct connection from the SR 520 offramp to new arterials, Hopper Street, Lumiere Street, and Shen Street. The upgraded interchange will create an improved offramp alignment that will ease traffic flow. The scope of work consists of constructing a ramp with a 125-foot long cut and cover precast tunnel. The tunnel structure consists of a cast-in-place lower structure topped with a three-sided lid. The project will also include pedestrian improvements in the form of new sidewalks and ramps on 148^th Ave. and the new arterials.

“We are happy to continue our longstanding relationship with WSDOT,” said Blake Ambler, Granite senior project manager. “The improved 148^th Ave. Interchange will be a key transportation asset for the cities of Redmond and Bellevue that will improve traffic flow and pedestrian safety.”

The project is anticipated to start in September 2021 and projected to be completed in November of 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. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit graniteconstruction.com, and connect with Granite on LinkedIn, Twitter, Facebook, and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210715005774/en/

FAQ

What is the value of Granite's new contract with WSDOT?

Granite's new contract with the Washington State Department of Transportation is valued at approximately $28 million.

When will the construction of the 148th Ave. NE Interchange begin?

Construction of the 148th Ave. NE Interchange is anticipated to start in September 2021.

What improvements will the 148th Ave. NE Interchange provide?

The interchange improvements will include enhanced traffic flow and pedestrian safety, along with new sidewalks and ramps.

When is the completion date for the interchange construction?

The project is projected to be completed by November 2022.

How does this contract affect Granite's project commitments?

This contract is expected to be included in Granite’s second quarter committed and awarded projects.