New projects in Ottawa, Montreal, Halifax and Seattle areas --
Toronto, Ontario – November 3, 2005: Aecon Group Inc. (TSX: ARE) today announced several new projects awarded to its Buildings Division in Ottawa, Montreal, Halifax and Seattle worth approximately $50 million Cdn.
Aecon Buildings in Ottawa will act as Construction Manager for the development of The Currents, a luxury condominium complex totaling 95,800 square feet. Valued at $14.5 million, the building consists of three sections: nine storeys of luxury condominium suites; two levels of mixed use which will include the Great Canadian Theatre Company; and two levels of underground parking. This project began in September and is scheduled for completion in November 2006. Aecon also successfully negotiated with the Great Canadian Theatre Company to act as Construction Manager for their $3.5 million project to include the construction of a 250-seat theatre targeted for completion several months after The Currents base building.
Aecon Buildings in Ottawa will also provide construction management services for $4.5 million in tenant improvements to federal government space. The work consists of upgrades to approximately 80,000 square feet of office space in a Class A office tower in downtown Ottawa. This project commenced in October and the Aecon project team will be working to a very aggressive schedule to complete construction by February 2006.
Aecon Buildings in Seattle was awarded the Construction Management contract for the $15 million US Suquamish Clearwater Casino which is owned and operated by the Suquamish Tribe. Aecon previously completed the construction of the casino and parking garage. This four-storey, 66,000 square-foot, wood-framed addition will house an 85-room hotel with a full-service spa. Work has begun on this project and will be finished in summer 2006.
Aecon Cegerco in Montreal was named General Contractor for the $5.7 million Technopτle Angus Office Building Phase VII. The project, which began in September and is scheduled for completion next August, includes the construction of a four-storey base building of 68,000 square feet. "The owner's goal is to achieve the Gold Level of LEED certification for this building and we look forward to helping them achieve that goal," said Rιjean Dallaire, President, Aecon Cegerco. LEED is the Leadership in Energy and Environmental Design Green Building rating system issued by the U.S. and Canadian Green Building Councils. It is a voluntary national standard for developing high performance, sustainable buildings.
Aecon Buildings in Halifax was recently awarded the Construction Management contract for the Super 8 Hotel rehabilitation work valued at $4 million. During the past two years the hotel has been shut down due to extensive damage caused by Hurricane Juan in September 2003. The project includes the rehabilitation of the entire interior and exterior of the building. Construction began on November 1 and is scheduled for completion in June 2006.
"These awards further build upon Aecon Buildings' strength in its core markets and will contribute to the continued improvement in operating results," said Bob Molgat, President, Aecon Buildings. "We are pleased to be the partner of choice on these important projects."
Aecon Group Inc. is Canada's largest publicly traded construction and infrastructure development company. Aecon and its subsidiaries provide services to private and public sector clients throughout Canada and internationally.