Granite Selected for $33 Million Major Street Improvement Project in California

Rhea-AI Summary

Granite (NYSE:GVA) has secured a $33 million project in Long Beach, California, focusing on the upgrade of Artesia Great Boulevard. This initiative, funded by the City of Long Beach and other local entities, aims to enhance roadway safety and mobility, featuring extensive reconstruction work over a 3.2-mile stretch. The project is set to begin in Q1 2023 and conclude in Q1 2024, with recycled materials incorporated into the construction. Granite sees this as a chance to strengthen its presence and relationships in the LA Basin Market.

Positive

• Secured a $33 million project with the City of Long Beach, enhancing infrastructure.
• Project scope includes various upgrades improving roadway safety and mobility.
• Strengthens Granite's involvement in the LA Basin Market.

Negative

• None.

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) has been selected by the City of Long Beach for an approximately $33 million project on Artesia Great Boulevard R-7191 in Long Beach, California. The project will be funded by the City of Long Beach, the Metropolitan Transportation District, and the California Department of Transportation. The award is expected to be included in Granite’s fourth quarter CAP.

The scope of work includes excavation, grading, asphalt and concrete demolition/removal, and reconstruction along a 3.2-mile portion of the roadway. All asphalt millings and cement concrete hardscape removed by Granite will be recycled and reused as Crushed Miscellaneous Base. The project also includes flatwork concrete placements such as sidewalks, driveways, crosswalks, and bus stops, as well as safety installations such as new pedestrian lighting, roadway signage and striping, and temporary and permanent traffic signals.

“This project will allow us to get more involved in the LA Basin Market and includes a variety of subcontract participation that will create opportunities within the marketplace to develop relationships and influence participation from other subcontractors in future pursuits,” said Mike Heddinger, Granite area manager. “We are excited to establish a relationship with the City of Long Beach.”

“The project will upgrade all intersections, enhancing the ecological system and improving public transit by providing safer means of travel—including a bicyclist thoroughfare—and updating all ADA required access/egress,” said Scott McArthur, Granite VP regional operations. “This work will improve overall mobility and safety along the corridor, providing residents with more opportunities to enjoy the recreational and health benefits achieved by walking or cycling.”

The project is expected to begin in Q1 2023 and conclude in Q1 2024. To learn more, visit https://www.longbeach.gov/pw/projects/artesia-great-boulevard-project/.

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, graniteconstruction.com, and connect with Granite on LinkedIn, Twitter, Facebook, and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221025005709/en/

Granite Contacts

Media

Erin Kuhlman - 831-768-4111

Investors

Wenjun Xu - 831-761-7861

Source: Granite

FAQ

What is the recent project awarded to Granite (GVA)?

Granite has been awarded a $33 million project in Long Beach, California, for upgrading Artesia Great Boulevard.

Where will Granite's $33 million project take place?

The project will take place in Long Beach, California.

When is Granite's project expected to start and finish?

The project is expected to begin in Q1 2023 and conclude in Q1 2024.

What improvements are included in Granite's Long Beach project?

The project includes roadway reconstruction, enhanced safety installations, and upgrades for public transit.

How does the Long Beach project impact Granite's market position?

The project allows Granite to strengthen its presence and relationships in the LA Basin Market.