$9.5 Billion New Terminal One is a Major Step Forward for Port Authority's JFK Transformation
| Company | John F. Kennedy International Airport - New York |
|---|---|
| Date | 20.09.2022 |
Designed by Gensler and AECOM, the largest privately funded terminal in the country will serve as an international gateway to the U.S. and will encompass over 300,000 square feet of dining, retail, lounges, and recreational space.
A couple of weeks ago Governor Kathy Hochul celebrated a key milestone in the Port Authority’s transformation of John F. Kennedy International Airport with the groundbreaking for a $9.5 billion, privately financed New Terminal One. The start of construction follows a revised agreement late last year between the Port Authority and the New Terminal One – a consortium of financial sponsors – to build the 2.4 million square foot, state of the art new international terminal that will anchor the south side of John F. Kennedy International Airport and create 10,000 jobs, including 6,000 jobs in construction.
“Our state-of-the-art renovations of New York State’s airports are critical and long overdue – especially at JFK, the nation’s front door to the world,” Governor Hochul said. “The investments we are making today will ensure all New Yorkers, and the tens of millions of people who come here every year, have a first-class travel experience tomorrow – all while creating more than 10,000 jobs. Congratulations and thank you to everyone who has put in the years of hard work to make this transformative project possible.”
Designed to accommodate the growing demand for international air travel, the New Terminal One will be more than twice the size of Terminal 1 and Terminal 2. Bright and airy check-in halls and arrival spaces advanced security technology and a state-of-the-art baggage handling system will enhance the passenger experience. The new Terminal One will double the number of gates that currently accommodate wide-body aircraft, with 22 of the 23 new gates designed for larger aircraft that are key to international travel.
With more than 300,000 square feet of world-class, locally inspired dining and retail concessions, as well as lounges, indoor green-space, inspiring public art, family friendly amenities and revamped roadways, the New Terminal One will provide customers the world class experience expected at a global gateway, and it will compete with some of the highest-rated airport terminals in the world.
In keeping with the Port Authority’s commitment to reach net-zero greenhouse gas emissions by 2050, the Terminal will be sustainably designed and future focused, including on-site renewable energy generation, electric ground support equipment and optimized lighting and building controls.
Initially expected to break ground in 2020, the severe impact of the COVID-19 pandemic on air travel required that the Port Authority and the New Terminal One (NTO) consortium restructure the previous agreement to build and operate the new Terminal. A revised agreement was approved by the Port Authority Board of Commissioners and announced by Governor Hochul in December 2021, enabling the project to move forward.
In June, the Port Authority’s Board also voted to approve a new lead investor in the project. Ferrovial, a global airport operator with experience building world-class terminals, acquired 96 percent of The Carlyle Global Infrastructure Fund’s 51-percent stake in the New Terminal One. The consortium, which also includes the financial partners ULLICO and JLC Infrastructure, will design, build and operate the state-of-the-art terminal.
The entire cost of the Terminal will be privately financed by the NTO consortium. The Port Authority will undertake infrastructure upgrades and improvements including roads, parking and utilities, including a new electrical substation as part of the project. The project will be built in phases, with the arrivals and departures hall and 14 new gates opening in 2026 and completion of the Terminal’s final nine gates in 2030
The New Terminal One will be built on the sites of the current undersized and outdated Terminal 1, the aging and obsolete 60-year-old Terminal 2 and the site of the former Terminal 3, which was demolished in 2014. In order to maintain full flight operations during construction, demolition of old structures will be coordinated with the opening of new facilities. Work will begin at the vacant Terminal 3 site. Terminal 2 will be demolished after Delta Air Lines consolidates its operations at a newly expanded and modernized Terminal 4 in 2023. The current Terminal 1 will be torn down after the first phase of the New Terminal One is completed in 2026, allowing the second phase of the project to move forward.
Transforming JFK Into a World-Class Global Gateway
The New Terminal One builds on the momentum of the other three major components of the airport’s transformation. The $3.9 billion development of a state-of-the-art new Terminal 6, to be built by JFK Millennium Partners, on the airport’s north side that will seamlessly connect with JetBlue’s existing Terminal 5 and was approved by the Port Authority Board of Commissioners in August, 2021. The $1.5 billion expansion of Terminal 4, led by Delta Air Lines and JFK International Air Terminal, was approved in the spring and is now under construction. Additionally, work began in December 2019 on the $425 million expansion of JFK’s Terminal 8, led by American Airlines, which operates the Terminal, and British Airways, which will be relocating to Terminal 8 from Terminal 7, once the project is completed by the end of this year.
Combined, the privately financed terminal projects combined with the Port Authority’s roadway, parking and infrastructure projects represent an $18 billion transformation of JFK International and an extraordinary series of public-private partnerships. The Port Authority capital investment of $2.9 billion is leveraging private investment at a rate of more than five to one when taking into account the full private investment of more than $15 billion that has been committed to the four projects comprising the full JFK redevelopment program.
Read the full article here: New York State News
