Rudolph and Sletten Awarded $54 Million to Complete The Rise Koreatown Mixed-Use Project
Tutor Perini Corporation (NYSE: TPC) announced that its subsidiary, Rudolph and Sletten, has secured a $54 million contract for the Rise Koreatown project in Los Angeles. The project includes 364 rental units and a 52,000 square-foot retail area, totaling 798,000 square feet with extensive parking facilities. Construction resumed in July 2020 after replacing an underperforming contractor, and is expected to be completed by November 2021. This project marks Rudolph and Sletten's first collaboration with Rescore Property Corp.
- Awarded $54 million contract for the Rise Koreatown project.
- Total project value of $101 million indicates significant revenue potential.
- Rudolph and Sletten's successful track record with over 3,000 completed projects.
- First project with Rescore, showcasing expansion of business relationships.
- Transitioning from another contractor may indicate prior project delays or issues.
- Delays in completion, now scheduled for November 2021, could impact cash flow.
LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that its subsidiary, Rudolph and Sletten, has been awarded
Located along Eighth Street, Oxford Avenue and Serrano Avenue in Los Angeles, The Rise Koreatown is being developed by Florida-based Rescore Property Corp. Designed by Nadel Architecture, the project is a seven-story mixed-use complex with 364 rental apartment units in five levels over one level of parking and a 52,000 square-foot ground floor retail area. There are three levels of subterranean parking adding to the project total of 798,000 square feet.
Rudolph and Sletten replaced another general contractor who was transitioned off the job. Rudolph and Sletten resumed construction in July 2020 with completion scheduled for November 2021. The overall project value is
This is Rudolph and Sletten’s first project with Rescore and its fifth project replacing an underperforming contractor.
About Rudolph and Sletten
In the last six decades, Rudolph and Sletten has constructed more than 3,000 projects across our five California offices, from research centers designed to cure diseases, to institutions that educate future generations of leadership. As we’ve grown, we’ve built all aspects of life science, higher education, health care, high-tech, government and everything in between. Our success is owed to our diverse, talented personnel combined with our technological expertise, honest estimates, innovative schedules and ethical business practices. Headquartered in San Carlos, Rudolph and Sletten has regional offices in Roseville, Irvine, Los Angeles and San Diego, California.
About Tutor Perini Corporation
Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private clients and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget while adhering to strict quality control measures.
