PHILADELPHIA, May 02, 2016 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has received two contracts from the U.S. General Services Administration (GSA) to provide construction manager as agent services during the modernization of two federal buildings in GSA’s Region 5. The two contracts have an estimated combined value to Hill of approximately $3.0 million.
The first project is the J.W. Peck Federal Building which is a 10-story office building located at 550 Main Street in the heart of downtown Cincinnati. The building was constructed in 1964. It has approximately 119,000 usable square feet of vacant space throughout the building. GSA will be renovating approximately 230,000 square feet to extend its useful life and consolidate federal agencies from leased locations within Cincinnati. The project has an estimated total cost of approximately $30.0 million.
The second project is 985 Michigan Avenue in Detroit, Michigan. The federal office building is 10-stories above grade with a basement and has approximately 484,000 rentable square feet in addition to a 10-story parking garage with approximately 850 spaces. GSA will be renovating the building to extend its useful life and consolidate federal agencies from leased locations within Detroit. Renovation of the building systems includes improvements to the HVAC systems that will result in energy savings, repairs to the passenger and freight elevators, replacement of the roof, repairs to the building’s windows and facade, upgrades to the fire alarm and sprinkler systems, repairs to the plumbing system and public restrooms, improvements to the electrical infrastructure, and repairs to the parking garage and site. The project has an estimated total cost of approximately $74.9 million.
“We look forward to assisting our long-term client GSA with the modernization of these important federal facilities,” said Vic Spinabelli, Jr., P.E., LEED AP, Senior Vice President with Hill’s Project Management Group.
Hill International, with 4,800 professionals in 100 offices worldwide, provides program management, project management, construction management, construction claims and other consulting services primarily to the buildings, transportation, environmental, energy and industrial markets. Engineering News-Record magazine recently ranked Hill as the seventh largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.
Certain statements contained herein may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and it is our intent that any such statements be protected by the safe harbor created thereby. Except for historical information, the matters set forth herein including, but not limited to, any projections of revenues, earnings or other financial items; any statements concerning our plans, strategies and objectives for future operations; and any statements regarding future economic conditions or performance, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although we believe that the expectations, estimates and assumptions reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results to differ materially from estimates or projections contained in our forward-looking statements are set forth in the Risk Factors section and elsewhere in the reports we have filed with the Securities and Exchange Commission, including that unfavorable global economic conditions may adversely impact our business, our backlog may not be fully realized as revenue and our expenses may be higher than anticipated. We do not intend, and undertake no obligation, to update any forward-looking statement.
Hill International, Inc.
John P. Paolin
Senior Vice President of Marketing and
Corporate Communications
(215) 309-7710
johnpaolin@hillintl.com
The Equity Group Inc.
Devin Sullivan
Senior Vice President
(212) 836-9608
dsullivan@equityny.com
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