LaGuardia Gateway Partners (LGP), a consortium of Vantage Airport Group, Skanska and Meridiam, together with the Port Authority of New York and New Jersey have signed a lease agreement and achieved financing for the public-private partnership redevelopment of LaGuardia Airport’s Central Terminal B. The lease began today and continues through 2050.

“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.”

“Today is a milestone step forward for the project, the broader New York community and the nation,” said Stewart Steeves, Chief Executive Officer of LaGuardia Gateway Partners. “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.”

The project includes a new 35-gate Terminal B, Central Hall, West Garage, related roadways and supporting infrastructure. During construction, the existing terminal will remain fully operational and flights will not be affected. New facilities will begin opening in 2018, with scheduled substantial completion in 2022. The $4 billion public-private partnership is one of the largest for new transportation infrastructure in the U.S. and is financed using equity, debt and revenues.

“LaGuardia Gateway Partners is working with the Port Authority to realize Governor Cuomo’s vision for a new LaGuardia,” Steeves said. “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.”

The new LaGuardia Central Terminal B will feature dual pedestrian bridges spanning active aircraft taxi lanes—a first in the world—that connect the terminal to two island concourses. This islands and bridges design allows for improved airline circulation and gate flexibility, which will help reduce airport delays. From the western concourse bridge, a view of the Manhattan skyline epitomizes how the new terminal design uniquely reflects New York.

Inside the new facility, there will be food, retail and beverage options that reflect regional and national offerings. The terminal will be flooded with natural light at all levels, have short curb-to-gate walking distances, and have spacious and comfortable waiting areas with more seating capacity.

The more than 1.3 million square feet of the new Central Terminal B is expected to achieve LEED Silver certification for sustainable design, a designation of Leadership in Energy and Environmental Design (LEED) by the U.S. Green Building Council.

About LaGuardia Gateway Partners

LaGuardia Gateway Partners was selected by the Port Authority of New York and New Jersey to deliver an extensive capital redevelopment project at LaGuardia Airport that will provide world-class terminal facilities and operations for passengers and airlines.

LaGuardia Gateway Partners is composed of Vantage Airport Group, Skanska and Meridiam for development and equity investment; SkanskaWalsh as the design build joint venture; HOK and WSP | Parsons Brinckerhoff for design; and Vantage Airport Group for management of the terminal operations. LaGuardia Gateway Partners’ members have worked on more than 350 aviation and transportation projects globally and domestically, including international airports in New York (John F. Kennedy), Chicago, Doha, Delhi, Los Angeles, Santiago, and Nassau.

LaGuardia Central – Fact Sheet

LaGuardia Gateway Partners is the private partner of the Port Authority of New York and New Jersey to deliver LaGuardia Central Terminal B, an extensive capital redevelopment project that will provide world-class facilities for passengers and airlines. LaGuardia Central is a public-private partnership that includes finance, design, construction, operation and maintenance of the LaGuardia Airport Central Terminal B, with a lease term through 2050. LaGuardia Central includes a new 35-gate Terminal B, Great Hall, West Garage, related roadways and supporting infrastructure.

About the Partners

LaGuardia Gateway Partners is composed of Vantage Airport Group, Skanska and Meridiam for development and equity investment; Skanska-Walsh as the design build joint venture; HOK and WSP | Parsons Brinckerhoff for design; and Vantage Airport Group for management of the operations. LaGuardia Gateway Partners’ members have worked on more than 350 aviation and transportation projects globally and domestically, including international airports in New York (John F. Kennedy), Chicago, Doha, Delhi, Los Angeles, Santiago, and Nassau.

By the Numbers¹

• $4 billion project value, of which two-thirds will be financed by private funds
• 1.3 million square feet of new terminal
• 14+ million passengers in 2015 (half of LaGuardia Airport’s current total passenger traffic)
• 35 gates (same as existing terminal)
• 8 airlines operate out of the terminal: Air Canada, American Airlines, Frontier Airlines, JetBlue, Southwest Airlines, United Airlines, Spirit and Virgin America
• $1.3 billion in wages and $5.2 billion in regional economic activity²
• 39 months to opening of significant portions of the terminal, when 100 per cent of passengers will check in at the new head house
• Dual pedestrian bridges that span active taxi lanes – a first in the world
• June 1, 2016: first day of LGP-led terminal operations

Timeline

• January 2013: Qualifications submitted
• July 2013: Shortlisting announced
• April & May 2014: Proposals submitted
• May 2015: LaGuardia Gateway Partners selected as Preferred Bidder
• July 2015: New York Governor Andrew Cuomo unveils vision for LaGuardia Airport
• March 2016: Lease authorization approved by Port Authority of New York and New Jersey
• June 1, 2016: Lease commencement and LaGuardia Gateway Partners takes over operations of existing Central Terminal B from Port Authority
• June 1, 2016 to 2022: Central Terminal Redevelopment Project construction
• June 1, 2016 to December 30, 2050: LaGuardia Gateway Partners operates and maintains existing Terminal B and, upon completion, the new Central Terminal

_{1 All statistics courtesy of the office of New York Governor Andrew Cuomo, the Port Authority of New York and New Jersey and LaGuardia Gateway Partners
2 Port Authority Advances Major Modernization Projects, March 24, 2016 Press Release}

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