New York: $3.9 billion for new Terminal 6 at JFK International Airport
The project was initially supposed to break ground in 2020. The extraordinary level of private investment had been threatened by the impact of the COVID-19 on air travel and future projections for the industry.
The restructured deal marks a major step forward in the ambitious plan to transform JFK into a unified 21st century global gateway and is a testament to the partners' commitment to the future of the airport and New York.
Subject to Board approval this week, the Port Authority will finalize and enter into a lease agreement with JMP for the construction of the $3.9 billion, 1.2 million square foot new terminal.
The full $3.9 billion expense of building the terminal will be privately financed by the JFK Millennium Partners consortium.
It will be built on the sites of the former Terminal 6, which was demolished in 2011, and the aging Terminal 7, which will be torn down after British Airways relocates to Terminal 8.
The new terminal will connect to Terminal 5 and be equipped with capacity for ten new gates, as well as bright and airy check-in halls and arrival spaces designed to enhance the customer experience.
Customers will enjoy more than 100,000 square feet of commercial dining and retail amenities, lounges, and recreational spaces. The new terminal will also incorporate the latest advances in both sustainability and security, infused with the partners' renowned customer experience, operational excellence, and a uniquely New York sense of place. Construction of the new terminal is scheduled to begin in mid-2022 and the first new gates are scheduled to open in 2025. ■