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LaGuardia Airport to Be Renovated in Multi-Billion Dollar Project

A new lease agreement has recently been signed between LaGuardia Gateway Partners, a consortium of Vantage Airport Group, Skanska and Meridiam, and the Port Authority of New York and New Jersey. The document was signed yesterday and cont until 2050. PR Newswire reports that the partnership has achieved financing for the redevelopment of LaGuardia Airport’s Central Terminal B.

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Before

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After (Rendering)

“Today’s contractual closing of the public-private partnership and the imminent commencement of construction represent a huge step forward in Governor Cuomo and the Port Authority’s vision to modernize LaGuardia Airport,” said Port Authority Executive Director Pat Foye. “The new Terminal B will be a 21st Century facility offering a high level of customer service and amenities. The LaGuardia Public-Private Partnership represents the second major PPP entered into by the PA in less than three years.”

The project, which is set to be complete in 2022, features a new 35-gate Terminal B, Central Hall, West Garage, related roadways and supporting infrastructure. The terminal will remain fully operational during construction and flights will not be affected by it. The first part of renovations are expected to be delivered as early as 2018. The $4 billion investment is one of the largest for new transportation infrastructure in the U.S. and is being financed using equity, debt and revenues.

“We are committed to delivering this project on time and within budget, while keeping communities engaged and informed. Our focus on delivering a great customer experience is rooted in knowing that an airport terminal is the first and last experience a passenger may have when visiting a city and region. We will build and operate a facility that New Yorkers can be proud of.” said Stewart Steeves, Chief Executive Officer of LaGuardia Gateway Partners.

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Dual Pedestrian Bridges: The first of its kind in the world, LaGuardia Central will feature dual pedestrian bridges spanning active aircraft taxi lanes, allowing for improved aircraft circulation and gate flexibility.

[Photos/Renderings: LaGuardia Gateway Partners]

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