Grounded: Balazs calls off plan to redevelop JFK terminal

TRD New York /
Jan.January 31, 2014 09:56 AM

Hotelier André Balazs’ deal with the Port Authority of New York and New Jersey to redevelop John F. Kennedy International Airport’s TWA terminal has been called off. Balazs was looking to create a hotel and conference center with a large retail component at the landmarked terminal site.

“Standard International was invited to enter into exclusive negotiations based on its unique plans and designs for the adaptive re-use of the legendary building,” Balazs’ company said in a statement to Crain’s. “After more than two years of negotiations, Standard International has been unable to reach a final agreement with the Port Authority and announced today that it will no longer pursue the project.”

The Port Authority said in a statement to the magazine that it was already in talks with a second suitor to redevelop the site. Other hotel groups, such as Starwood Hotels & Resorts Worldwide and Trump International have expressed interest in the project. [Crain’s]  – Hiten Samtani


Related Articles

arrow_forward_ios
MCR Development CEO Tyler Morse and a rendering of TWA Flight Center

Revamped TWA Flight Center at JFK lands $270M loan

Taking off: Hudson Yards now has flying cars for CRE tenants

Hurry up and wait: Airlines strike deal for $344M expansion at JFK

Cost of JFK renovation jumps to $13B

Hotelier André Balazs is back in NYC, threw himself a homecoming party

Cuomo’s $10B JFK renovation won’t include much-needed new runway

TWA Terminal JFK MCR Development thumb

RXR, Vantage tapped to overhaul JetBlue terminal at JFK

Luxury animal hotel at JFK hits a ruff patch

arrow_forward_ios