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PANYNJ approves US$5bn for expansion of LaGuardia and Newark airports

Left: A design rendering of the expansion plans for LaGuardia Airport


The board of commissioners for the Port Authority of New York and New Jersey (PANYNJ) has approved more than US$5bn in financing for a series of modernization projects at LaGuardia and Newark Liberty International airports.

The payments include US$2.9bn for the construction of a new Terminal B facility at LaGuardia Airport and US$2.3bn for the replacement of Terminal A at Newark Liberty International Airport.

Terminal B at LaGuardia Airport will be developed under a design, build, finance, operate and maintain arrangement with LaGuardia Gateway Partners (LGP), a public-private partnership comprising Vantage Airport Group, Skanska, Meridiam, Walsh, HOK and Parsons Brinckerhoff. The lease also includes the construction of a new Central Hall and supporting infrastructure.

The Terminal A project at Newark includes the construction of a new terminal building and a parking garage complex, resulting in 2,890 direct jobs. The project is scheduled for completion by 2022.

John Degnan, chairman, PANYNJ, said, “The authorizations are a momentous step forward for our airports, for air travelers and for the economic health of the New York-New Jersey region. We’re returning to our core transportation mission with an unprecedented investment in our vital aviation facilities.”

Scott Rechler, vice chairman, PANYNJ, said, “Modernizing our aging airport terminals demonstrates the Port Authority’s commitment to focusing on the region’s transportation infrastructure. To achieve operating efficiencies, offer our customers the best in world-class service and meet the anticipated rise in passenger demand, it is imperative that the agency continues to make these investments in our airports.”

Image courtesy of the Port Authority of New York and New Jersey

March 30, 2016

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