The mega-contracts keep rolling in for Sylmar-based construction contractor Tutor Perini Corp.
On Sept. 10, the company announced that its Rudolph and Sletten subsidiary, which is based in Menlo Park, has been awarded a $960 million contract for the construction of a new UC San Francisco children’s hospital in Oakland.
Tutor Perini shares rose 3% in the Sept. 10 trading session following the early-morning announcement, closing at $62.46.
At $960 million, this award just missed being the eighth billion-dollar-plus contract that Tutor Perini and its subsidiaries have won since the beginning of last year. It also adds to Tutor Perini’s record backlog of projects awarded but not yet booked. As of June 30, the backlog stood at $21.2 billion, roughly double the level of the same time last year.
Construction beginning this month
For this project, Rudolph and Sletten has been tasked with building a 277,500-square-foot hospital building with seven above-grade levels and one basement level. The project also includes a 269-space parking garage topped with a rooftop heliport, as well as a site services trailer and demolition of three existing buildings.
The full construction phase was set to begin this month, with substantial completion anticipated in 2031. Rudolph and Sletten has been engaged in preconstruction tasks for the project for more than a year.
“Rudolph and Sletten is proud to be
part of this historic project to bring a world-class hospital to the children of the East Bay and Northern California,” Gary Taylor, senior project executive at Rudolph and Sletten, said last summer when a project labor agreement was announced for the
hospital construction.
Rudolph and Sletten was created in 1962 out of the combination of two fledgling Northern California construction firms. In 2005, it was bought out by Framingham, Massachusetts-based Perini Corp., which in turn merged in 2008 with Sylmar-based Tutor Saliba to become Tutor Perini Corp. in a deal worth $862 million. The Rudolph and Sletten subsidiary now focuses on health care, institutional and other commercial and industrial buildings.
Tutor Perini is best known for its civil construction work. Locally that includes ongoing construction of two segments of the D-Line subway extension between Beverly Hills and Westwood.
