Turner Construction

In 1902, Henry Chandlee Turner (b. 1871) founded Turner Construction Company with $25,000 in start-up capital, at 11 Broadway, in New York City.[1] Turner's first job was a $690 project to build a concrete vault for Thrift Bank in the borough of Brooklyn.[2] In 1904, a Scottish industrialist named Robert Gair hired Turner Construction to build several concrete buildings in Brooklyn, including a plant that was recognized as the largest reinforced concrete building in the United States at the time.[3][4] Around the same time the company was developing plans for the Gair building, Turner began building concrete staircases for the New York City Subway. The original design showed the stairs were to be made of steel, but Turner persuaded Gair to use concrete as an alternative.[5] His proposal was applauded and led to contracts for staircases and platforms for the Interborough Rapid Transit Company's first subway line.[6][7] The company established branch offices in Philadelphia in 1907,[8] followed by Buffalo in 1908,[9] and Boston in 1916.[7] Within the first 15 years, Turner Construction Company constructed buildings for some of the country's largest businesses, including Western Electric[10], Standard Oil[11], Kodak, and Colgate.

From World War I to the Great Depression, the company's billings grew to nearly $44 million. Like most industries, construction suffered during the economic collapse and Turner's volume fell to $2.5 million by 1933.[12] The company recovered and revenues increased to $12 million by 1937.[12] The company suspended commercial construction during the war years, focusing instead on the construction of military camps, factories, and government buildings.[13] In 1941, Henry Turner stepped down as president to serve as chairman and make room for his brother, Archie Turner, as president.[14] Archie Turner led the company through the war, but poor health limited his tenure.

In October 1946, Henry Turner retired as chairman, handing the post to his ailing brother. For his replacement, Archie Turner selected Admiral Ben Moreell, the individual responsible for forming the Seabees.[15][16] One month after Moreell's appointment, Archie Turner died of a heart attack.[17] Four months later, Moreell resigned, and the void was filled by Henry Turner's son, Henry Chandlee (Chan) Turner Jr.

After surpassing $100 million in revenues in 1951, Chan Turner built the United Nations Secretariat building in New York in 1952 and the New York headquarters of Chase Manhattan Bank in 1956.[18] During the 1960s, notable projects included the Lincoln Center for the Performing Arts [19] and Madison Square Garden in 1967.[20] From the early 1950s-late 1960s, the company opened offices in Cincinnati,[21] Los Angeles,[22] Cleveland,[12] Columbus, and San Francisco.[22] In 1969, Turner issued over-the-counter stock.[12]

In 1972, the company's stock began trading on the American Stock Exchange. Throughout the 1970s, the company added offices in Detroit, Denver, Pittsburgh, Atlanta,[23] Seattle,[22] Miami,, and Portland.[22][24] Notable projects included the Vanderbilt University Medical Center Hospital in 1974[25] and the John Fitzgerald Kennedy Library in 1977.[26]

Howard Sinclair Turner became president in 1965, and was chairman from 1970 to 1977,[27] when he was succeeded by Walter B. Shaw.[28] Shaw joined the company shortly before the war, served under Admiral Moreell as a Seabee officer in the Pacific, and returned to Turner Construction after the war.

In 1981 Turner Construction acquired Universal Construction, a company founded by Franklin P. Gresham in Huntsville, Alabama.

In 1984, Shaw appointed Herbert Conant as president[29] and The Turner Corporation was formed as a holding company with Turner Construction Company, Turner International Industries and Turner Development Corporation as subsidiaries. In this new guise, the company expanded to Connecticut, Orlando, Phoenix, Nashville,[25] Dallas, San Jose,[22] and Kansas City. During this time, the company completed the Texas Commerce Tower, United Airlines Terminal 1 at O'Hare International Airport in Chicago, and Los Angeles' First Interstate World Center.

The John F. Kennedy Library

Turner Construction Company erected several professional sports stadiums during the 1990s. Sports construction was not new to the company: Turner's first sports contract was construction of the promenade at Harvard Stadium in 1910, followed by Pitt Stadium for the University of Pittsburgh in 1925.[30] In 1995, the company completed construction of the Rose Garden in Portland, Oregon. In 1996, they built Charlotte, North Carolina's Bank of America Stadium, followed by completion of Sports Authority Field at Mile High in 2001.[30]

In August 1999, Hochtief AG of Germany purchased The Turner Corporation for $370 million.[31] By extension, Turner Construction Company gained access to Hochtief's operations in Australia, the United Kingdom, and the heavy construction field. In 2002, Turner Construction expanded its presence in the Washington, D.C. area by acquiring J.A. Jones-Tompkins Builders, Inc., the former subsidiary of J.A. Jones Construction Company. Tompkins Builders, Inc., a new entity, is now a wholly owned subsidiary of Turner Construction.[32]