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Granite Construction Inc

Granite to Complete Initial Phase of Tahoe Cedars Water System Reconstruction

WATSONVILLE, Calif.--(BUSINESS WIRE)--Jun. 3, 2026-- Granite (NYSE: GVA) announced it has been awarded an approximately $19 million Progressive Design-Build (PDB) Guaranteed Maximum Price (GMP) 1 for the Tahoe Cedars Water System Replacement Project by the Tahoe City Public Utility District (TCPUD).

The Tahoe Cedars Water System Replacement Project, located on the west shore of Lake Tahoe, California, will modernize critical infrastructure serving the Tahoe Cedars community by replacing aging pipelines and system components that have operated beyond their intended service life.

Key components include:

  • Installation of 15,000 linear feet of new water mains
  • Relocation of 200+ existing service lines
  • Installation of 29 fire hydrants to enhance fire protection coverage
  • Integration of approximately 200 residential water meters to support improved system monitoring and efficiency

“Reaching this GMP is the result of strong collaboration and trust across the project team,” said Chris Burke, Granite Vice President of Regional Operations. “Granite’s consistent ability to achieve GMP reflects our focus on working closely with owners to align scope, cost, and schedule from the outset.”

The project will improve system reliability, reduce water loss, and strengthen fire protection capabilities in high-risk wildfire areas like the Tahoe Basin. Designed to meet current regulatory standards and adapt to future demands, the upgraded system provides a resilient, long-term solution with an anticipated service life of at least 50 years, supporting the safety and sustainability of the Tahoe Cedars community.

GMP 1 construction is expected to begin in mid-June 2026 and anticipated to be completed in October 2026. This initial GMP phase represents the first year of a planned four-year construction program.

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 onLinkedIn, X, Facebook, andInstagram.

Granite Contacts
Media
Erin Kuhlman 831-768-4111
Investors
Wenjun Xu - 831-761-7861

Source: Granite Construction Incorporated