Press release from Business Wire
AECOM's Tishman Construction operation managing construction of sustainable, luxury mixed-use development in Hoboken, N.J.
Thursday, May 16, 2013
AECOM's Tishman Construction operation managing construction of sustainable, luxury mixed-use development in Hoboken, N.J.07:00 EDT Thursday, May 16, 2013
LOS ANGELES (Business Wire) -- AECOM Technology Corporation (NYSE: ACM), a leading provider of professional technical and management support services for public and private clients in more than 140 countries around the world, announced today that its Tishman Construction operation is managing the construction of Park Place, a premier green development in the northeast corridor of Hoboken, N.J.
Developed by Bijou Properties in partnership with the AFL-CIO Building Investment Trust (BIT), the 412,350-square-foot building will feature 212 rental units, retail space, a six-level parking garage and educational areas. When finished, Park Place will be one of only two LEED-certified Gold residential rentals in Hoboken.
“We are proud of Tishman's work with Bijou Properties and the AFL-CIO BIT on this significant project,” said John M. Dionisio, AECOM chairman and chief executive officer. “Working to realize their vision, our team looks forward to transforming the site into a new icon for Hoboken.”
On May 7, the representatives from the development partners and project teams were joined by local officials and labor organizations to celebrate the site's official groundbreaking. Having already provided preconstruction services, Tishman is currently clearing the site and beginning the project's initial construction phase. Completion of the US$131-million mixed-use development is expected in early 2015.
AECOM is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental, energy, water and government. With approximately 45,000 employees around the world, AECOM is a leader in all of the key markets that it serves. AECOM provides a blend of global reach, local knowledge, innovation and technical excellence in delivering solutions that create, enhance and sustain the world's built, natural, and social environments. A Fortune 500 company, AECOM serves clients in more than 140 countries and had revenue of $8.2 billion during the 12 months ended March 31, 2013. More information on AECOM and its services can be found at www.aecom.com.
About Tishman Construction
Founded in 1898, Tishman Construction, a wholly owned AECOM subsidiary, is one of the world's leading builders, currently managing construction for the 1,776-foot-high One World Trade Center, the Javits Convention Center expansion and renovation in New York, the new headquarters for the U.S. Department of Homeland Security in Washington, D.C., and the new Anaheim Regional Transportation Intermodal Center for high-speed trains in California. Known for successfully managing complex, iconic projects, Tishman is responsible for the construction of more than 450 million square feet of space, incorporating facilities of every size and type, including arts and culture, commercial, convention centers, education, gaming, government, healthcare, hospitality, residential, retail, sports and leisure, technology and transportation. More information on Tishman Construction can be found at www.tishmanconstruction.com.
About Bijou Properties:
Founded in 1999 in Hoboken, N.J., Bijou Properties designs, develops and manages the highest quality sustainable buildings and has become a recognized leader in the field of green development along the Hudson Waterfront. Recent projects include Garden Street Lofts (N.J.'s First LEED Gold Residential Highrise), The Hostess Factory, a 42,000-square-foot retail restoration including a 20,000-square-foot Green Roof, and Edge Lofts, a midrise rental building at 1405 Clinton Street which recently opened and is a candidate to receive the first N.J. LEED Residential for Homes Platinum designation. Beyond our individual properties, Bijou Properties is focused on creating better neighborhoods and healthier environments for the community at large. More information can be found on the company website: www.bijouproperties.com.
About the AFL-CIO Building Investment Trust (BIT)
The BIT is a bank collective trust fund, sponsored by PNC Bank, National Association, ("PNC Bank") that invests in commercial real estate. As of March 31, 2013, the BIT has $3.2 billion in gross assets and $2.6 billion in net assets.
Over its 25 year history, the BIT has directly or indirectly invested over $5.2 billion for the development and acquisition of more than 180 office, retail, multifamily, hotel, warehouse, and mixed use properties across the country. These investments have generated approximately 68 million hours in union construction work and created thousands of union jobs in the service, maintenance and operations of facilities owned by the BIT.
The BIT is a bank collective trust fund for which PNC Bank is trustee. PNC Bank has retained PNC Realty Investors, Inc. ("PRI") to provide real estate investment advisory and management services, and the AFL-CIO Investment Trust Corporation (the "ITC") to provide marketing, investor and labor relation services, in connection with the BIT. PNC Bank licenses the ability to use the "AFL-CIO" name in the name of the Trust and in connection with the activities of the Trust.
Forward-Looking Statements: All statements in this press release other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any projections of earnings, statements of plans for future operations or expected revenue. Actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause actual results to differ materially from our forward-looking statements are set forth in our quarterly report on Form 10-Q for the fiscal quarter ended March 31, 2013, and our other reports filed with the U.S. Securities and Exchange Commission. AECOM does not intend, and undertakes no obligation, to update any forward-looking statement.
Paul Dickard, 646-432-8473
VP, External Communications