Skanska AB, a leading construction and development firm, has announced the signing of an initial contract valued at $59 million (approximately 650 million SEK) to provide preconstruction services for the SPARC project in New York. This agreement has been formalized with the New York City Economic Development Corporation (NYCEDC) and pertains to both preconstruction and deconstruction activities for phase one of the Science Park and Research Campus Kips Bay project, commonly known as SPARC Kips Bay.
As per the terms of the contract, Skanska will commence preconstruction activities and supervise the deconstruction of existing structures located at the CUNY Hunter College Brookdale campus. The initial phase of preconstruction work is slated to begin in the fourth quarter of 2024, with groundbreaking expected by the latter part of 2025. The deconstruction phase is projected to conclude in the first quarter of 2027.
The inaugural phase of SPARC Kips Bay will feature the development of over 55,700 square meters of educational facilities, catering to institutions such as the City University of New York and New York City Public Schools. Skanska will reflect this contract in its US order backlog for the first quarter of 2025.
