Tutor Perini subsidiary Roy Anderson has landed a $72.7 million hangar construction job at Pensacola International Airport in Florida, the contractor announced in a news release.
Roy Anderson will build out Hangar 3 of the larger Project Titan, an initiative spearheaded by the city of Pensacola for Singapore-based ST Engineering to build as many as four maintenance, repair and overhaul hangars at the facility. Project Titan kicked off in 2018 and received $210 million in state and federal grants, according to the Pensacola News Journal.
Gulfport, Mississippi-based Anderson’s scope of work on the build includes the design and construction of a new pre-engineered metal building hangar with a central shop and perimeter office. It also encompasses the buildout of support areas, as well as construction of a 300-space asphalt parking lot.
While the city originally secured $210 million for the project in 2018, given inflation, about $261 million would be needed in today’s dollars to have the same buying power. For that reason, the construction of a potential Hangar 4 is still in question, and is now being characterized as an “additive addition” in bid documents, the News Journal reported.
Cost-cutting has recently become a larger focus on construction projects, as higher material costs and interest rates have led to more projects being curtailed, paused or abandoned.
Indeed, Tutor Perini’s $72.7 million contract is about $10 million less than the price tag that was originally reported by the newspaper in February.
Tutor Perini said design work for Hangar 3 has already begun, and the contractor expects actual construction to kick off in August. Completion of Hangar 3 is slated for the summer of 2026.
