Granite Leads Joint Venture to Deliver 22nd Street Widening and Bridge Replacement Project in Tucson
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
partnership
Key Terms
joint venturefinancial
A joint venture is when two or more companies team up to work on a specific project or business idea, sharing both the risks and the rewards. It’s like friends starting a lemonade stand together—each contributes resources and they split the profits, making it easier to succeed than going alone.
regional freight corridortechnical
A regional freight corridor is a major transportation route—such as a highway, rail line, shipping lane, or combination of these—used repeatedly to move goods between production centers, ports, and consumer markets within a specific geographic area. Investors watch these corridors because they shape shipping speed and cost like a river channel guiding boats: smoother, faster corridors lower logistics expenses, boost sales for exporters and logistics firms, and raise the value of related infrastructure and real estate.
segmental bridge constructiontechnical
Segmental bridge construction is a method of building a bridge by casting or assembling it in short, repeating sections (like snapping together large Lego pieces) rather than pouring the whole span at once. It matters to investors because this approach can speed completion, reduce traffic disruption and on-site labor costs, and concentrate risks into predictable stages—affecting project budgets, timelines, cash flow and long-term maintenance liabilities.
WATSONVILLE, Calif.--(BUSINESS WIRE)--
Granite (NYSE:GVA), lead partner in the Granite-Traylor Joint Venture with Traylor Bros., Inc., has been selected by the City of Tucson for the 22nd Street Widening and Bridge Replacement Project in Tucson, Arizona. The $157 million project will be funded by the City of Tucson, the Regional Transportation Authority, and a $25 million RAISE Grant, and will be included in Granite’s 2025 fourth quarter CAP.
This project will rebuild 22nd Street from Kino Parkway to Tucson Boulevard and replace the current 4-lane bridge over Barraza-Aviation Parkway and the Union Pacific Railroad with a modern 6-lane bridge. As a major east-west route and Regional Freight Corridor, these upgrades address structural deficiencies, enhance safety and connectivity, and support regional economic growth.
“Granite and Traylor have a proven history of successful collaboration on past projects and will bring that same teamwork to the City of Tucson,” said Granite Vice President of Regional Operations, Derek Betts. “By combining Granite’s strong local resources with Traylor’s extensive experience in complex segmental bridge construction, we are well positioned to deliver a high-quality project for the people of Tucson.”
Granite will supply 10,525 tons of asphalt from its nearby Swan Facility, reinforcing our commitment to leveraging local capabilities for efficiency and sustainability.
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.
