Tutor Perini to Build Montecito Resort

Tutor Perini Corp. in Sylmar said it has won a contract to build the Rosewood Miramar Beach Montecito in Santa Barbara County. The construction company was awarded the contract by Caruso Affiliated. Tutor didn’t disclose the contract value and said it would be reported as part of its project backlog in its third-quarter earnings. The 16-acre luxury resort is being built on the site of the former Miramar Hotel and will consist of 161 one- and two-story guest accommodations, a main building, two restaurants, a bar, outdoor terrace, spa, two pools, a fitness center, beach club, 12,000 square feet for indoor and outdoor events and a 6,000-square-foot ballroom. Construction is expected to finish in the summer of 2018. Tutor Perini shares closed Thursday down 56 cents or 2.6 percent to $21.28 on the New York Stock Exchange.