A construction manager at risk is a project delivery approach where a construction professional is hired early to help plan and then agrees to complete the work for an agreed maximum price, taking responsibility if costs exceed that cap. Think of it like hiring a contractor who sets a top-end price for a home renovation and assumes the extra expense if overruns occur. Investors care because this shifts cost and schedule risk off the owner, improves budget predictability, and can affect project timelines and financial returns.
structurally deficienttechnical
A label for physical infrastructure (like bridges, roads or buildings) meaning key load-bearing parts are worn, damaged, or near the end of their useful life and need repair, weight limits, or replacement. For investors it’s a warning signal—like a car’s dashboard light—because fixing or replacing such assets can trigger government spending, project delays, higher costs for construction and transport businesses, and potential hits to property or revenue tied to the asset.
multi-span steel beam girdertechnical
A multi-span steel beam girder is a heavy steel support that runs across two or more intermediate supports to carry weight over several sections, commonly used in bridges, parking structures and large buildings. Investors care because its design and quality influence construction cost, schedule, expected lifespan and maintenance needs—think of it as a long shelf supported at multiple points where material and engineering determine how much load it can safely hold and for how long.
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WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) announced today that Keystone Bridge Partners, a Granite-led joint venture with Condon-Johnson & Associates, Inc., has been selected by the Regional Transportation Commission (RTC) of Washoe County to provide preconstruction services for the Keystone Avenue Bridge Replacement Project in Reno, Nevada. The project will be delivered using the Construction Manager at Risk (CMAR) method.
Built in 1966, the Keystone Avenue Bridge spans the Truckee River and serves as a critical north–south corridor. The new project will replace the structurally deficient bridge, significantly improve safety, and accommodate increased traffic demand.
“This project reflects Granite’s continued commitment to delivering resilient, community-focused infrastructure,” said Chris Burke, Granite Regional Vice President. “We are excited to again partner with the RTC to find collaborative solutions to best serve Reno and the travelling public.”
Project scope includes demolition of the existing bridge and construction of a new multi-span steel beam girder structure, along with reconstruction of Keystone Avenue approaches, new retaining walls, drainage improvements, and utility relocations. The project also features a new multi-use path connecting to Vine Street and improvements to nearby roadways.
Project Timeline:
Preconstruction: Q2 2026 through Q1 2028
Major Construction: Q2 2028 through Q3 2029
When the construction phase is awarded, the anticipated value will range from $50 million to $60 million.
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.
