Skanska Wins $110M Contract to Build New Renton High School for Renton School District

Skanska has signed a $110 million contract with the Renton School District to construct the new Renton High School in Renton, Washington, the company announced Oct. 5. The contract, worth about SEK 1.0 billion, will be included in Skanska's U.S. order bookings for the third quarter of 2026.

Work on the project has begun, and completion is expected in fall 2029.

Renton High School Project Details

When complete, the new three-story comprehensive high school will total about 32,500 square meters (350,000 square feet) and have classroom capacity for 1,600 students. The school replaces the existing Renton High School campus at 400 S. 2nd St. in downtown Renton.

The $110 million contract equates to roughly $314 per square foot of building area. That figure reflects the construction contract only and is not the project's total development cost.

The campus program includes core classrooms and other learning environments for Career and Technical Education, art, science and electives. Plans also call for health services and special services spaces, community areas, a library, cafeteria, commons and gymnasiums. Outdoor facilities include a lighted baseball/softball field and a practice football/soccer field.

Renton School District Bond Funding and Project Budget

The project is part of the Renton School District's multiyear capital program. District voters approved a $676 million construction and improvement bond in November 2022, with proceeds directed toward major modernization projects, including the replacement of Renton High School. District planning documents show construction beginning in 2026.

The total project budget is approximately $434 million. That figure includes property acquisition and broader project costs beyond Skanska's $110 million contract, such as site work, design, project management, escalation and contingencies.

The district's 2026 capital facilities plan estimates the replacement will add about 211 high school seats in 2029 and will also address enrollment growth beyond the district's six-year planning period.

Project Timeline and Site

Skanska was selected as general contractor/construction manager during preconstruction planning. The school board approved schematic designs in January 2025. Site acquisition, demolition and preparation preceded the active construction phase, and district planning documents describe approximately four years of construction phasing and logistics.

The city's project narrative identifies the existing campus as approximately 23.23 acres and separately describes the proposed classroom building as approximately 310,000 square feet. Skanska's announcement cites a 350,000-square-foot figure for the completed comprehensive campus, indicating the two numbers may reflect different definitions of building or program area.

Skanska's U.S. Education Construction Work

The Renton award follows other education-related work announced by Skanska in the United States, including a contract to build and renovate academic buildings for the University of Mary Washington in Fredericksburg, listed at approximately SEK 1.5 billion in the company's order-booking information.

As a public, owner-occupied school, the project is a construction contract rather than a sale, financing or income-producing real estate transaction, so metrics such as cap rate and leasing occupancy do not apply.

Market Context: Bond-Funded School Construction

The Renton project reflects conditions common in U.S. K-12 construction. Local voter-approved bonds remain a major funding source for replacement campuses, modernization and capacity expansion, which ties project timing to elections, bond issuance and public-sector budget cycles. New schools increasingly combine conventional classrooms with career and technical education, science, arts, athletics, health services and community uses.

The project's timeline, from bond approval in 2022 through design, site work and construction start, with delivery targeted for 2029, is typical of large public projects that require community engagement, permitting, land work and phased construction.

Sources

Skanska press release via PR Newswire: https://www.prnewswire.com/news-releases/skanska-to-construct-new-high-school-in-renton-washington-usa-for-usd-110m-about-sek-1-0-billion-302898100.html