The Real Deal New York

Mexico-based bidder axed from LaGuardia redevelopment

Three bidders remain for $2.5 billion project
March 13, 2014 04:10PM

Aerostar New York Holdings, a team led by Mexico City-based airport operator Grupo Aeroportuario del Sureste and investment firm Highstar Capital, has been disqualified from bidding to handle the $2.5 billion redevelopment of La Guardia Airport’s main terminal.

Grupo Aeroportuario del Sureste announced the partnership’s suspension from the running Wednesday but gave no reason for the decision. The team will now be unable to submit a final proposal for the airport’s overhaul, which are due in May.

The three remaining bidders are LaGuardia Gateway Partnership, LGAlliance and LGC Central Terminal Consortium. The winner will replace La Guardia’s aging facility with a larger, 1.3 million-square-foot version of the current area with additional amenities and revenue-generating additions such as retail and food. [Crain’s] Julie Strickland