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
Reconstruction & Renovation | Mar 16, 2017
Pols are ready to spend $1T on rebuilding America’s infrastructure. But who will pick which projects benefit?
The accounting and consulting firm PwC offers the industrial sector a five-step approach to getting more involved in this process.
Airports | Feb 23, 2017
New Orleans Airport to add five additional gates and $110 million to current expansion
The project is being hailed as the city’s most transformative since the construction of the Superdome.
Projects | Jan 25, 2017
Trump prioritizes infrastructure projects, as rebuilding America is now a hot political potato
Both parties are talking about $1 trillion in spending over the next decade. How projects will be funded, though, remains unresolved.
Airports | Jan 17, 2017
JFK Airport set for $10 billion renovation
In addition to the airport itself, the overhaul will also improve road and rail access to meet projected passenger growth.
Airports | Dec 6, 2016
Phoenix Sky Harbor International Airport creates a destination inside Terminal 3
DWL Architects, SmithGroupJJR, and Corgan design passenger experience that connects to the surrounding city and Sonoran desert landscape.
Airports | Nov 1, 2016
FAA forecasts a modest dip in spending for airports over next five years
Latest report based on surveys of 3,340 existing and proposed public-use airports.
Airports | Aug 31, 2016
Aircraft manufacturing facility innovation from The Austin Company
Austin’s many innovations contributed to the success of our clients by enabling them to operate in more efficient environments, optimize the flexibility of their operations, and meet aggressive schedules.
| Jul 29, 2016
AIRPORT FACILITIES GIANTS: Airports binge on construction during busy year for travel
Terminal construction will grow by nearly $1 billion this year, and it will keep increasing. Airports are expanding and modernizing their facilities to keep passengers moving.
Airports | Apr 6, 2016
HOK leads joint venture to expand and modernize Hartsfield-Jackson Atlanta International Airport’s domestic passenger terminal
The domestic passenger terminal is just the tip of the spear, as the world’s most traveled airport is about to undergo 20 years and $6 billion worth of changes.
Giants 400 | Jan 29, 2016
AIRPORT TERMINAL GIANTS: KPF, Jacobs, Hensel Phelps among top airport sector AEC firms
BD+C's rankings of the nation's largest airport sector design and construction firms, as reported in the 2015 Giants 300 Report
