June 2, 2016
LaGuardia Gateway Partners, a consortium of Vantage Airport Group, Skanska, Meridiam and the Port Authority of New York and New Jersey, have signed a lease agreement with the term through 2050. The agreement also calls for major redevelopment of LaGuardia Airport’s Central Terminal B.
The $4 billion public-private partnership is one of the largest for new transportation infrastructure in the U.S. Financing was achieved through equity, debt and revenue. The design-build phase of the project will begin at once.
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.