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Enter Symbol
or Name
USA
CA



Bird Construction Inc
Symbol BDT
Shares Issued 42,516,853
Close 2020-05-20 C$ 5.55
Market Cap C$ 235,968,534
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Bird Construction receives two projects totalling $164M

2020-05-20 19:35 ET - News Release

Mr. Teri McKibbon reports

BIRD CONSTRUCTION INC. ANNOUNCES THAT IT HAS BEEN AWARDED TWO NEW PROJECTS: 185 ENFIELD PLACE PROJECT AND THE LOUVRE RESIDENCE PROJECT

Bird Construction Inc. has been awarded two new projects. The first is a construction management service contract for the 185 Enfield Place project in Mississauga, Ont., for approximately $107-million for GWL Realty Advisors (GWLRA). The second is a stipulated sum contract for the Louvre Residence at Century Park project in Edmonton, Alta., for approximately $57-million under development by Procura Real Estate Services Ltd. Construction on both projects is scheduled to commence in the second quarter of 2020.

The 185 Enfield Place project consists of a 35-storey, 366-unit tower with approximately 26,000 square metres of gross floor area. It includes a five-storey podium space and four levels of underground parking. The design will feature modern suites, dynamic floor plans, desirable indoor and outdoor amenities, professional management, and unparalleled access to the surrounding community and the wider Greater Toronto Area. The new building is to be constructed to leadership in energy and environmental design (LEED) gold standards.

The Louvre is a new concrete and wood-framed, mixed-use residential project composed of 358 residential dwellings and over 800 square metres of commercial space. The building will be seven storeys tall (three concrete and four wood frame), with two levels of parking. The Louvre will also feature an interior courtyard and shared amenity space for its residents. The Louvre development is part of the greater development of Century Park and will be completed in 2022.

"These two projects will add a combined $164-million to backlog in the second quarter of Bird's 100th year of operations in Canada," said Teri McKibbon, president and chief executive officer of Bird. "These projects are both great examples of Bird's discipline in contracting projects that are geographically diverse and balanced in terms of their risk profile."

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