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La Guardia

$4 Billion LaGuardia Airport Redevelopment Plan Set to Begin

LaGuardia Gateway partners, a consortium involving Vantage Airport Group, Skanska and Meridiam, will soon begin the $4 billion renovation of New York’s LaGuardia Airport after finalising its financing.

The consortium accessed low-cost borrowing through the New York Transportation Development Corporation, which two weeks ago issued $2.5 billion of mostly tax-exempt municipal bonds.

The project will involve demolishing LaGuardia’s central terminal building and replacing it with a  new “world-class” facility that will incorporate more restaurants and lounges, along with a central hall that will bring LaGuardia’s four separate terminals together into one unified airport.

After construction is complete, the consortium will operate and maintain the facility for the duration of the lease, which ends in 2050.