$4B plan to modernize, redesign LaGuardia Airport advances in NY
NEW YORK CITY — A long-overdue redesign and renovation of LaGuardia Airport has the support of public and private parties to invest $4 billion in the airport.
Under a public-private partnership, two-thirds of the $4 billion design and construction cost will be paid for by private financing and existing passenger fees. A private consortium, LaGuardia Gateway Partners, will design, build, operate and maintain the facility.
A lease was approved with LaGuardia Gateway Partners to build and operate a new state-of-the-art Terminal B, with a central hall and concourse that will, for the first time, create a unified airport as well as the site for an air train station. The lease clears the way for the first phase of Gov. Andrew Cuomo’s redesign plan, which will ultimately transform the aging facility into a world-class transportation hub, equipped for the challenges and demands of 21st century travel and deserving of the state of New York.
“Our plan will fundamentally transform LaGuardia – replacing what is now an outdated and poorly designed complex with the world-class airport New York has always deserved,” Cuomo said. “This represents a major milestone for the project – the first of many – and I look forward to seeing construction begin later this year.”
Source: Gov. Cuomo’s office