NEW YORK—Skanska and the New York City School Construction Authority (NYCSCA) have signed a contract that provides Skanska an assignment to convert an existing New York Public Library book storage facility into the new Beacon High School in Hell’s Kitchen. The contract value for Skanska is $88 million.

As part of the contract, Skanska will be responsible for demolition as well as the installation of a sub-slab depressurization system, classrooms, science labs and music rooms.

Slated for completion in May 2015, the project also includes a two-story addition, allowing for a gymnasium and auditorium for the school’s nearly 3,000 students.