The Los Angeles airport board on Oct. 19 awarded two contracts worth $1.26 billion to reconfigure Tom Bradley International Terminal at Los Angeles International Airport. The project will be built by Walsh Austin Joint Venture, Los Angeles, and is to be completed by 2013. A $545-million contract includes building nine new boarding gates. A $584.2-million contract covers security work.
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.