PHILADELPHIA and SAN FRANCISCO, July 24, 2015 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has received a contract from affiliates of Lennar Urban and Macerich Development to provide construction management consultant services in connection with the development at Candlestick Point in San Francisco.
The $1 billion project will be developed on a 24-acre parcel that is the location of the now-demolished Candlestick Park, former home of the San Francisco 49ers and San Francisco Giants. The new development, which will be a model of integrated planning and sustainable design, will include an urban open-air retail complex comprised of approximately 500,000 square-feet of gross leasable area featuring a premium retail outlet center. The retail complex will be supported by 2,400 parking spaces configured below the complex and in an adjacent parking structure. The complex also will feature 262 residential homes and an entertainment facility.
"The redevelopment of Candlestick Point will bring a vibrant new community to this famed site," said Anthony Marraro, PMP, DBIA, Senior Vice President and Northern California Area Manager for Hill's Project Management Group. "We look forward to helping make this exciting project a reality."
Hill International, with 4,800 professionals in 100 offices worldwide, provides program management, project management, construction management, construction claims and other consulting services primarily to the buildings, transportation, environmental, energy and industrial markets. Engineering News-Record magazine recently ranked Hill as the seventh largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.
Certain statements contained herein may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and it is our intent that any such statements be protected by the safe harbor created thereby. Except for historical information, the matters set forth herein including, but not limited to, any projections of revenues, earnings or other financial items; any statements concerning our plans, strategies and objectives for future operations; and any statements regarding future economic conditions or performance, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although we believe that the expectations, estimates and assumptions reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results to differ materially from estimates or projections contained in our forward-looking statements are set forth in the Risk Factors section and elsewhere in the reports we have filed with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statement.
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