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 | Jan 30, 2024
Rafael Viñoly Architects’ design for the new Florence, Italy, airport terminal will feature a rooftop vineyard
At Florence, Italy’s Aeroporto Amerigo Vespucci, the new international airport terminal will feature a fully operating vineyard on the facility’s rooftop. Designed by Rafael Viñoly Architects, the terminal is expected to see over 5.9 million passengers annually. Renderings for the project have recently been released.
Airports | Jan 15, 2024
How to keep airports functional during construction
Gensler's aviation experts share new ideas about how to make the airport construction process better moving forward.
Airports | Dec 4, 2023
4 key innovations and construction trends across airport design
Here are some of the key trends Skanska is seeing in the aviation sector, from congestion solutions to sustainability.
Giants 400 | Nov 13, 2023
Top 60 Airport Facility Construction Firms for 2023
Hensel Phelps, Turner Construction, AECOM, and Walsh Group top BD+C's ranking of the nation's largest airport terminal and airport facilities general contractors and construction management (CM) firms for 2023, as reported in the 2023 Giants 400 Report.
Giants 400 | Nov 13, 2023
Top 65 Airport Facility Engineering Firms for 2023
AECOM, Jacobs, Arup, Burns & McDonnell, and WSP head BD+C's ranking of the nation's largest airport terminal and airport facilities engineering and engineering architecture (EA) firms for 2023, as reported in the 2023 Giants 400 Report.
Giants 400 | Nov 13, 2023
Top 65 Airport Facility Architecture Firms for 2023
Gensler, Corgan, PGAL, and HOK top BD+C's ranking of the nation's largest airport terminal and airport facilities architecture and architecture engineering (AE) firms for 2023, as reported in the 2023 Giants 400 Report.
Building Materials | Oct 2, 2023
Purdue engineers develop intelligent architected materials
Purdue University civil engineers have developed innovative materials that can dissipate energy caused by various physical stresses without sustaining permanent damage.
Products and Materials | Sep 29, 2023
Top building products for September 2023
BD+C Editors break down 15 of the top building products this month, from smart light switches to glass wall systems.
Giants 400 | Aug 22, 2023
Top 115 Architecture Engineering Firms for 2023
Stantec, HDR, Page, HOK, and Arcadis North America top the rankings of the nation's largest architecture engineering (AE) firms for nonresidential building and multifamily housing work, as reported in Building Design+Construction's 2023 Giants 400 Report.
Giants 400 | Aug 22, 2023
2023 Giants 400 Report: Ranking the nation's largest architecture, engineering, and construction firms
A record 552 AEC firms submitted data for BD+C's 2023 Giants 400 Report. The final report includes 137 rankings across 25 building sectors and specialty categories.