Business and Professional
May 16, 2016
Skanska Megen JV secures contract to renovate Fifth Third Arena at the University of Cincinnati for $69 million
Cincinnati, May 16, 2016 Skanska, with its joint venture partner Megen Construction Company, has signed a contract for $69 million with the University of Cincinnati to manage the renovation of its Fifth Third Arena. Skanska USA Building will include $48 million its 70 percent share of the contract in its second quarter 2016 order bookings.
Renovations to the 26-year old facility, originally named the Myrl H. Shoemaker Center, include the creation of a 360-degree seating bowl with space for 11,500 spectators. The renovation also includes new concessions and restrooms, an upper-level concourse with fan amenities, expanded food and beverage options, a new Bearcats lounge and super suites, and new main entrance and plaza with centralized ticketing and guest services.
The multi-purpose Fifth Third arena is home to the University of Cincinnati Bearcats men's and women's basketball teams and women's volleyball team.
The privately funded project is designed by Populous/Moody Nolan. Construction is scheduled to begin in June 2016 and is slated for completion in November 2018.
To view a fly through of the Fifth Third Arena rendering, click here.
Photo credit: Moody Nolan / Populous.
For further information please contact:
Shelby Adams, firstname.lastname@example.org, 972-281-6451
This and previous releases can also be found at www.usa.skanska.com.
Skanska USA is one of the largest, most financially sound construction and development companies in the U.S., serving a broad range of clients including those in transportation, power, industrial, water/wastewater, healthcare, education, sports, data centers, life sciences, aviation and commercial. Headquartered in New York with offices in 31 metro areas, we have nearly 11,000 employees committed to being leaders in safety, project execution, sustainability, ethics and people development. In 2015, our work in building construction, civil and power/industrial construction, commercial development and infrastructure development (public-private partnerships) generated $7.1 billion in revenue. Global revenue of parent company Skanska AB, headquartered in Stockholm and listed on the Stockholm Stock Exchange, totaled $18.4 billion in 2015. Skanska shares are publicly traded in the U.S. on the OTC market under the symbol SKBSY through a Level I American Depository Receipt program.
Megen Construction Company is an award-winning and respected construction management firm, committed to delivering encore construction experiences. With over 22 years of experience, Megen employs 30 construction professionals, and is headquartered in Cincinnati, Ohio. Megen constructs projects throughout the U.S. in their key markets of education, government, healthcare, corporate and special projects. The company has been involved in the Greater Cincinnati region's most important and unique projects, including: the Fountain Square Revitalization, the National Underground Railroad Freedom Center Museum and Great American Ball Park, home of the Cincinnati Reds. Megen is also Ohio's first LEED Platinum builder, and a two-time award winner of the construction industry's coveted Aon Build America Award.