LaGuardia Airport Central Terminal Building Replacement Project Earns Envision Platinum
The LaGuardia Airport CTB Replacement Project is the first project to earn Envision recognition under Envision v3 – the latest iteration of the Envision sustainable infrastructure framework developed and managed by the Institute for Sustainable Infrastructure. Owned by the Port Authority of New York and New Jersey (PANYNJ), the LaGuardia Airport CTB Replacement Project earned Envision Platinum, indicating the project delivered a heightened range of social, environmental, and economic benefits to the host and affected communities.
The LaGuardia Airport is vital to the regional economy. It employs approximately 10,000 people on-airport and contributes more than $13 billion in economic activity to the region, generating an additional 100,000 jobs and nearly $5 billion in annual wages and salaries. The airport is located on 680 acres in the New York City Borough of Queens. It is a large commercial airport hub that primarily serves domestic markets. Located only a few minutes from Manhattan, LaGuardia Airport serves more than 19 million people.
PANYNJ embarked on an innovative Public-Private Partnership (P3) to replace the aging and outdated Central Terminal Building (CTB) at the LaGuardia Airport which has been operational since its dedication in 1964. It was most recently modernized and expanded in the 1990s. This is the most ambitious P3 ever undertaken in the region and is the largest P3 ever in the United States. Under the P3, LaGuardia Gateway Partners will design, build, operate, and maintain a new Central Terminal Building (New CTB) facility. The P3 contract includes taking over the operations of the existing CTB and designing, building, financing, operating and maintaining the New CTB through 2050. The project will be financed using equity, debt, passenger facility charges, retail, and airline revenues.