HOLLYWOOD, Fla., Nov. 18, 2019 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of professional and technical engineering and consulting solutions, announced today the award of a four-year contract by a San Francisco Bay Area municipality to provide owner’s representation, design oversight, plan review, and field inspection services on a 240 acre mixed use redevelopment project. The $8 billion project includes over nine million square feet of office, retail, dining and entertainment space, hotels, and more than 1,600 residential units and apartments. NV5’s initial assignment under the flexible services agreement is for $5 million. We anticipate this engagement will exceed $20 million in multi-vertical services as the project progresses.
Because the site is being developed over a closed landfill, it poses complex design and construction challenges. NV5’s contract scope includes plan review and inspection services related to electrical transmission and distribution, landfill, parks and recreation, public works, and water operations and maintenance. Vertical construction of the project will begin in early 2020, and the first phase of the project is scheduled for completion in 2023.
“We are proud to be selected to provide owner’s representative program management services for this project,” said Dickerson Wright, PE, Chairman and CEO of NV5. “Our client’s confidence in NV5 to represent its interests on this development is a testament to the expertise and value demonstrated by our technical experts on high-profile projects in California and across the country.”
“This is only possible with the amazing cooperation and team work of NV5’s onsite professionals and remote technical centers. Our multi-disciplinary team is an essential resource for design and construction. We are excited to help deliver this important project,” said Bradley Waldrop, Regional Managing Director of NV5.
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of professional and technical engineering and consulting solutions ranked #34 in the Engineering News-Record Top 500 Design Firms list. NV5 serves public and private sector clients in the infrastructure, energy, construction, real estate, and environmental markets. NV5 primarily focuses on five business verticals: construction quality assurance, infrastructure engineering and support services, energy, program management, and environmental solutions. The Company operates out of more than 100 locations worldwide. For additional information, please visit the Company’s website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.
Investor Relations Contact
NV5 Global, Inc.
Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email: ir@nv5.com
Source: NV5 Global, Inc.