The LaGuardia Gateway team is comprised of Skanska USA, airport operator Vantage Airport Group, investment company Meridiam, among others. The architects are HOK.
The new Central Terminal Building will accommodate larger aircraft to meet the demand of additional passengers, whose numbers are estimated to increase over the next two decades, according to the Port Authority, which operates the airport.
In 2012, LaGuardia handled 25.7 million passengers. Port Authority officials forecast that 34 million travelers will use the airport by 2030. More than half of those passengers are expected to use the new Central Terminal Building, the Port Authority said.
The project is expected to generate $175 million in wages, the Port Authority said. The federal government will reimburse 95 percent of the project's expenditures.
The project will be done in phases, the first of which commenced last year when the Port Authority began construction on a new $82.9 million parking garage that will rise on the east side of the terminal next to the Delta Air Lines terminal.
That 1,100-car garage, and another that is slated to be built on the west side of the terminal, will allow the airport's main garage to be demolished to make way for the new terminal building, which will rise on that site. In all, the Port Authority has pledged to make $1.5 billion in upgrades to the airport that will lay the infrastructure for the new terminal building.
The amount of traffic that passes through the terminal has vastly exceeded its 8 million passengers a year it was designed to handle. In 2012, that figure swelled to 25.7 million travelers and by 2030, the Port Authority projects at least 34 million will pass through the terminal each year.
The 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.
The new building would mark a vast improvement on the existing facilities, which opened in 1964 and are universally considered to be antiquated with undersized security and baggage processing areas, as well as undersized food concession and retail areas, that in most airports are both big amenities and revenue generators.
The Port Authority has selected the LaGuardia Gateway Partners to design, build, finance, and operate the 1.3 million-square-foot Central Terminal Building.
The project also includes replacing frontage roads and a central heating and refrigeration plant, as well as operating and maintaining the existing Central Terminal during the construction period and the new building for a specified term.
LaGuardia Gateway Partners will pay for the building, but pocket a cut of the revenue from airline leases and rents from stores and restaurants. The building has a projected price tag of $2.7 billion and is expected to be completed in 2020.
The project includes demolishing the existing terminal and its four concourses, garage, Hangar 1, and frontage roads; building temporary facilities; and designing and building the Central Terminal Building.
It also includes constructing a central heating and refrigeration plant, utilities for the new building, hydrant fueling within the project site limits; as well as operating, maintaining and managing the existing terminal and temporary facilities during construction.
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.
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.
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