The LaGuardia Gateway Partners (LGP) consortium reached financial close on the LaGuardia Central Terminal B Redevelopment Project in June 2016, with LGP executing a lease agreement with the Port Authority of New York and New Jersey (PANYNJ).
The Public Private Partnership includes the finance, design, construction, operation and maintenance of the LaGuardia Airport Central Terminal B in New York City, USA, with a lease term through 2050. Central Terminal B was commissioned in 1964 with a design capacity of eight million passengers per year. The aging terminal currently serves more than 14 million passengers annually. The new 35-gate, 1.3 million square foot facility will be managed by LGP to provide a 21st century passenger experience in customer service, amenities, and retail offerings.
The Asset was financed using equity, debt, PANYNJ milestone payments, as well as retail and airline revenues.
The Project had a goal of procuring 30% of sub-contracts during construction with Minority and Women Owned Business (MWBE) contracting firms. Over $928m in contract value has been awarded with MWBE firms (112% of target). Regular outreach activities are held with the local Queens community related to MWBE opportunities and general Project updates with local leaders and community groups. The Asset has set high goals for airport disadvantage business enterprises (ACDBE) participation in the retail and food & beverage concessions. The project is meeting its goals for 30% MWBE for its O&M phase sub-contracts and 20% ACDBE operators for concessions. During the construction phase 40% of the subcontracts were MWDBE (initial goal 30%). The project has recently ordered 4 electric buses to transport employees’ airside between concourses and headhouse. The Asset has installed EV charging infrastructure for airline Ground Service Equipment and has leased electric buses to transport workers airside. The Project has developed a partnership with an operator of an off-site secured warehouse to consolidate and efficiently transport goods to the terminal.
In 2019 the Project was recognized by the Institute of Sustainable Infrastructure with the Envision Platinum award for its resilience and sustainability1. In July 2021, Terminal B has been awarded LEED v4 Gold certification2 for the completed phases of the new terminal, which encompasses the Arrivals & Departures Hall, Eastern Concourse, Eastern Pedestrian Bridge and the Central Heating and Refrigeration Plant. In 2021, the World Jury of the Prix Versailles3 also honored LaGuardia Airport’s Terminal B with the World Title in the Airports category.
Passengers a year
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