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Tutor Perini Will Renovate Miami Towers

Tutor Perini Corp. announced on Wednesday that it has secured a $140 million contract to renovate two luxury residential towers in Miami Beach. The work will include turning a 16-story housing tower into a 22-unit multipurpose condominium tower and refurbishing the building’s public and back-of-house areas, landscaping, spa, fitness center and retail locations. The Sylmar construction company will also construct an 18-story tower adjacent to the first building, with 41 residential units and amenities including a swimming pool, spa, decks and landscaping. The new tower will include an onsite underground parking garage with 190 spaces. Construction work, which will be carried out by Tutor Perini Building Corp., is expected to begin this fall and be completed in third quarter of 2017. Shares closed up 26 cents, or nearly 2 percent, to $17.40 on the New York Stock Exchange.

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