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Granite Selected for Tahoe Cedars Water Reconstruction Project

1. Granite (GVA) awarded a $3M preconstruction contract by TCPUD. 2. First Progressive Design-Build project for Granite in California. 3. Project aims to upgrade aging water infrastructure from the 1940s. 4. Construction value estimated at $60 million, starting in May 2026. 5. Project includes replacing water mains and adding fire hydrants.

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Why Bullish?

Winning significant contracts boosts revenue potential and market confidence. Similar past projects have positively impacted GVA's stock price, enhancing investor sentiment.

How important is it?

The project signifies a strategic milestone for GVA's operations in California, likely enhancing future growth and partnerships.

Why Long Term?

The long-term nature of the construction schedule ensures sustained revenue over several years, aligning with GVA's strategic growth objectives.

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WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been selected by the Tahoe City Public Utility District (TCPUD) for the approximately $3 million preconstruction portion of the Tahoe Cedars Water Reconstruction Project under a Progressive Design-Build (PDB) contract. DOWL, LLC has been named the Designer-of-Record. Located in Tahoma, California, along the west shore of Lake Tahoe, this project represents Granite’s first PDB contract in the state, marking a significant milestone for the company. "Our team is honored to be awarded the Tahoe Cedars PDB project and excited to deliver the first PDB project for Granite in California. We look forward to working with TCPUD and DOWL to deliver a project that significantly enhances the water infrastructure for the Tahoe Cedars community while demonstrating the effectiveness of the collaborative PDB process,” said Chris Burke, Granite Vice President of Regional Operations. The Tahoe Cedars project is a critical endeavor aimed at upgrading the aging water infrastructure that was originally constructed in the 1940s. Located in the Tahoe Cedars area, key components of the project include: Replacing 15 miles of undersized and failing water mains Relocating 632 water service lines from backyards to the street Installing 97 new fire hydrants for enhanced fire protection Adding over 1,000 residential water meters Preconstruction activities commenced this Spring and are expected to run through early 2026, and the anticipated construction value of the contract is $60 million. The construction portion of the project is expected to begin in May 2026 and continue through 2029. About Granite Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, graniteconstruction.com, and connect with Granite on LinkedIn, X, Facebook, and Instagram.

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