April 26, 2021
Bird Construction Inc. Awarded Contract Valued at Approximately $172 Million for Residential Tower Development in Toronto
COMPANY: BIRD CONSTRUCTION INC.
LISTING: TORONTO STOCK EXCHANGE
DATE: April 26, 2021
SUBJECT: BIRD CONSTRUCTION INC. AWARDED CONTRACT VALUED AT APPROXIMATELY $172 MILLION FOR RESIDENTIAL TOWER DEVELOPMENT IN TORONTO
Bird Construction Inc. (“Bird”) announced today that it has negotiated a fixed price construction services contract with Concert Properties for the Sherbourne Project (“Burke”) in Toronto, Ontario for approximately $172 million. Construction is scheduled to commence in early May 2021.
The Burke is a residential tower consisting of 53 floors with each suite offering open living spaces, large balconies and “best in class” interior finishes. It will be a sleek and sophisticated building with a gross floor area of 43,300 m² combining a healthy blend of residential spaces while adding amble retail components, all while incorporating an existing heritage building. The residential portion has a total of 501 suites with a combination of studios, one-bedrooms, two-bedrooms, and 50 three-bedroom units, finished off with approximately 180 underground resident parking spaces.
Bird’s commitment to sustainable construction will be realized once again, as it adds The Burke to its 200+ Leadership in Energy and Environmental Design (LEED®) project portfolio. The new building will be constructed to a LEED® gold standard, leveraging green building practices and environmentally sound solutions.
“Bird and Concert Properties have a strong partnership, and a proven track record of success in this market for many years. We are pleased to be given this opportunity to further build on this partnership while delivering another marquis project in downtown Toronto”, said Teri McKibbon, President & CEO. “This award highlights our success in diversifying our work program as we continue to balance the risk profile of our backlog in Ontario and across the country. It also reaffirms the commitment of our teams who execute operational excellence for our longstanding clients, strengthening our position to deliver long term shareholder value.”
This press release contains forward-looking information (as defined in applicable Canadian securities legislation) that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance, or achievements to materially differ from those expressed or implied by the forward-looking information.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information contact:
T.L. McKibbon, President & CEO or
W.R. Gingrich, CFO
Bird Construction Inc.
5700 Explorer Drive, Suite 400
Mississauga, ON L4W 0C6
Phone: (905) 602-4122
About Bird Construction
Bird (TSX:BDT) is a leading Canadian construction company operating from coast-to-coast and servicing all of Canada’s major markets. Bird provides a comprehensive range of construction services from new construction for industrial, commercial, and institutional markets; to industrial maintenance, repair and operations services, heavy civil construction, and contract surface mining; as well as vertical infrastructure including, electrical, mechanical, and specialty trades. For over 100 years, Bird has been a people-focused company with an unwavering commitment to safety and a high level of service that provides long-term value for all stakeholders. www.bird.ca