WASHINGTON, DC-A Skanska-JayDee joint venture was awarded a $157 million design-build job to upgrade the First Street Tunnel.
The District of Columbia Water and Sewer Authority granted the bid and Skanska is spearheading the joint venture, booking 60% of the contract amount – for a total of $94 million - in its fourth quarter earnings.
The project calls for Skanska and JayDee to build a new 18.5-foot-diameter water-storage/conveyance tunnel, four smaller connecting tunnels, and four connections that can capture eight million gallons of stormwater before it reaches the combined sewer system.
One important goal of the project is to protect those communities adjacent to the McMillan reservoir, such as Bloomingdale and LeDroit, which are highly susceptible to flooding during rainstorms.
The project will be the second step in a three-step infrastructure plan to mitigate localized flooding.
The project is scheduled to begin this month, and is expected to be completed in the second quarter of 2016.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
