The public-private partnership LaGuardia Gateway Partners has signed a 35-year lease agreement and has negotiated the financing to begin the redevelopment of LaGuardia Airport’s Central Terminal B in New York City.
The members of LaGuardia Gateway Partners—Vantage Airport Group, Skanska Infrastructure Development, and Meridian—signed the lease with the Port Authority of New York and New Jersey.
The $4 billion makeover is one of the largest infrastructure projects in the U.S. It includes a new 35-gate Terminal B, Central Hall, West Garage, and related roadways and support infrastructure.
The new 1.3-million-sf Central Terminal B will feature the world’s first dual pedestrian bridges that span active aircraft taxi lanes and connect the terminal to two island concourses. The bridges will improve airline circulation and gate flexibility.
The new facilities are expected to begin opening in 2018, with completion of the project scheduled for 2022. The project’s financing is a combination of equity, debt, and retail and airline revenue. (The existing terminal will stay open during construction.) Two thirds of the project are being financed by private funds.
“Today is a milestone step forward for the project, the broader New York community and the nation,” said Stewart Steeves, LaGuardia Gateway Partners’ CEO. “With the beginning of this lease, our team brings its award-winning experience to the project and will deliver a sustainably-designed, state-of-the art facility at LaGuardia Airport.”
Central Terminal B is being reconstructed to achieve LEED Silver certification.
This redevelopment is the largest project that Skanska has undertaken in its history. As a one-third partner in the consortium, its equity investment will be about $70 million. Skanska has a 70% share of the $4 billion design/build contract, the amount of which will be divided equally between Skanska USA Building and Skanska USA Civil.
Johan Karlström, Skanska’s CEO and President, believes this partnership puts his company in a “strong position” to pursue other P3 projects in the U.S.
Skanska USA and Walsh Construction formed a design-build joint venture for this project. HOK and WSP | Parsons Brinkerhoff are its design advisors. Vantage will manage the terminal operations.
The redeveloped terminal will feature pedestrian bridges over active taxi lanes that will give passengers views of the airfield and Manhattan's skyline. Rendering: LaGuardia Gateway Partners
Related Stories
Airports | Feb 21, 2018
Terminal Modernization: Why Bother? Part II
This is the second post in our series examining why airport operators should bother to upgrade their facilities, even if capacity isn’t forcing the issue.
Airports | Feb 7, 2018
LaGuardia Airport receives eight private work booths in Terminal B
The hub sees over 15 million travelers annually.
Libraries | Jan 29, 2018
Commercial plane that skidded off the runway may become Turkey’s newest public library
The plane was removed from its cliffside perch five days after the incident.
Giants 400 | Oct 5, 2017
On wings of gold: Alternative financing schemes are propelling the high-flyin’ air terminals sector
The $4 billion renovation of New York City’s LaGuardia Airport is the first major U.S. aviation project delivered using a public-private partnership (P3) model.
Giants 400 | Oct 3, 2017
Top 30 airport engineering firms
AECOM, Burns & McDonnell, and Arup top BD+C’s ranking of the nation’s largest airport sector engineering and EA firms, as reported in the 2017 Giants 300 Report.
Airports | Sep 11, 2017
Terminal modernization: Why bother? Part I
A terminal modernization program can be a complicated and expensive task that airport operators may be hesitant to undertake unless necessitated by demands for increased capacity. This is the first post in our series examining why airport operators should bother to upgrade their facilities, even if capacity isn’t forcing the issue.
Hotel Facilities | Jul 5, 2017
It only took 26 days to complete construction on the Crowne Plaza Changi Airport hotel extension
PPVC techniques allowed the project to save time and manpower.
Airports | Jun 26, 2017
Newark Liberty International Airport breaks ground on $2.4 billion redevelopment project
The project includes a new 1 million-sf terminal building with 33 domestic aircraft gates.
Building Team Awards | Jun 8, 2017
Missing link: Denver International Airport and Transit Center
Gold Award: A new mixed-use transit center fulfills Denver’s 28-year plan to improve access to the nation’s fifth-busiest airport.
Airports | May 15, 2017
Five trends for airport retail
CallisonRTKL Vice President Kevin Horn pinpoints how travel retail is changing dramatically.