The project will completely rebuild the terminal and construct a central hall that will create a single, unified LaGuardia Airport.
Vantage Airport Group, with over 21 years of airport experience, will oversee construction for the project, operations and commercial development of the terminal building and central hall, transitioning management to the new building and continuing operations through to 2050.
As part of the LaGuardia Gateway Partners consortium, Vantage assumes oversight responsibility following the successful closing at the end of May of a $2.5 billion marquee municipal bond offering for the $4 billion project that will be completed in phases over the next six years.
A significant milestone is set to be achieved in early 2020 when 100% of passengers will check in at the new 35-gate Central Terminal.
The new terminal will include 1.3 million square feet of new space and dual pedestrian bridges spanning active taxi lanes--a first in the world.
"The redevelopment of LaGuardia's Central Terminal, which welcomes 14 million passengers annually, involves the largest public-private partnership for new transportation infrastructure in the United States," says Vantage Airport Group's president and CEO, George Casey.
"We look forward to helping transform LaGuardia into a world-class airport for the flying public and our airline partners. Vantage takes pride in its knowledge of, and expertise in, airport management, having worked with 28 airports worldwide, including taking 20 facilities from public to private management."
Within LaGuardia Gateway Partners, the consortium selected by the Port Authority of New York and New Jersey (PANYNJ) to redevelop the Central Terminal Building, Vantage is responsible for equity investment, facility planning and development, operations, commercial development and maintenance.
The team also includes Skanska and Meridiam as development and equity investment partners; Skanska-Walsh as the design build joint venture; and HOK and WSP/Parsons Brinckerhoff for design.
"The contractual closing of the public-private partnership and the imminent commencement of construction represent a huge step forward in Governor Cuomo and the port authority's vision to modernise LaGuardia Airport," enthuses PANYNJ director, Pat Foye.
"The new Terminal B will be a 21st Century facility offering a high level of customer service and amenities. The LaGuardia Public-Private Partnership represents the second major PPP entered into by the PA in less than three years."
CEO of LaGuardia Gateway Partbers, Stewart Steeves, called the news "a milestone step forward for the project, the broader New York community and the nation."
He addds: "With the beginning of this lease, our team brings its award-winning experience to the project and will deliver a sustainably-designed, state-of-the art facility at LaGuardia Airport."
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.
The $4 billion public-private partnership is one of the largest for new transportation infrastructure in the US and is financed using equity, debt and revenues.
"LaGuardia Gateway Partners is working with the Port Authority to realise Governor Cuomo's vision for a new LaGuardia," remarks Steeves.
"We are committed to delivering this project on time and within budget, while keeping communities engaged and informed.
"Our focus on delivering a great customer experience is rooted in knowing that an airport terminal is the first and last experience a passenger may have when visiting a city and region. We will build and operate a facility that New Yorkers can be proud of."
The new LaGuardia Central Terminal B will feature dual pedestrian bridges spanning active aircraft taxi lanes – a first in the world – that connect the terminal to two island concourses.
This islands and bridges design allows for improved airline circulation and gate flexibility, which will help reduce airport delays. From the western concourse bridge, a view of the Manhattan skyline epitomizes how the new terminal design uniquely reflects New York.
LaGuardia Gateway Partners' members have worked on more than 350 aviation and transportation projects globally, including international airports in New York (John F. Kennedy), Boston, Chicago, Los Angeles, Chile, and The Bahamas.