Recent press releases from the office of Governor Andrew Cuomo and the construction firm Skanska have revealed that a final partnership to renovate LaGuardia Airport has been made.
The Public Private Partnership (PPP) consists of the Port Authority of New York and New Jersey and LaGuardia Gateway Partners, which is in turn comprised of the construction company Skanska, airport operator Vantage Airport Group, investment company Meridiam, among others. The architects are HOK. The deal includes the “finance, design, construction, operation, and maintenance of the LaGuardia Airport Central Terminal B…with a lease term through 2050,” according to the Skanska press release.
Cuomo’s call for a more holistic design delayed the closing of the deal between the Port Authority and LaGuardia Gateway Partners, the latter of whom won the bid last May. The $4 billion renovation will commence this summer, beginning with the demolition of a parking garage situated in front of the terminal building where the new 1.3 million-square-foot building will be erected. The existing terminal will continue normal use during the construction period.
This design for the new terminal attempts to solve the major problems with the current airport—notably aircraft circulation, gate flexibility, and delays—by making use of an islands-and-bridge concept. Pedestrian ramps will connect the terminal building with two island concourses, spanning above active aircraft taxi lanes, as described by Crain’s.
So far, $2.5 billion has been raised for the construction. LaGuardia Gateway Partners will pay approximately $1.8 billion of the cost of the new terminal. The Port Authority must contribute the remaining $2.2 billion. Of that $2.2 billion, much “will be used to pay for infrastructure around the new terminal,” according to Crain’s. LaGuardia Gateway has been promised the revenue generated by the tenants of the new terminal, as well as from airline fees.
It is expected that the majority of work for the new terminal is scheduled for completion by 2020, at which time it can be opened. Substantial completion of the whole project should be reached by 2022.