A Sylmar construction company has been contracted to build a luxury residential tower in Florida.
Tutor Perini Corp. announced on Tuesday that its subsidiary Tutor Perini Building Corp. will construct the 16-story AquaBlu Development in Ft. Lauderdale.
The contract comes from Florida real-estate developer Ocean Land Investments and the development includes 35 waterfront units and various amenities for its residents.
The purchasing amount for the project was not disclosed.
“We are honored to work with Ocean Land Investments on AquaBlu, bringing its spacious condominiums to fruition so that residents can fully appreciate the panoramic views and luxurious amenities,” Senior Vice President of Tutor Perini Building Corp. Danny Hoisman said in a statement.
Preconstruction for the project is already in motion, and construction is expected to begin before April. The majority of the construction should be completed by summer of 2017.
Tutor Perini shares closed up 22 cents or 1.9 percent to $11.76 on the New York Stock Exchange.