The Real Deal New York

Naming of $3.6B LaGuardia project developer delayed

Three teams in the running to build and operate terminal site
September 11, 2014 04:10PM

The Port Authority of New York and New Jersey has pushed back its selection of a team to redevelop the Central Terminal at LaGuardia Airport.

The teams in the running are Lend Lease, Macquarie Capital Group, Turner Construction and Hochtief AirPort GmbH; O&G Industries, Zachry Construction, Kohn Pedersen Fox and Ove Arup & Partners; and Skanska, Vantage Airport Group and Parsons Brinckerhoff. The board meeting, slated for later this month, will instead occur Oct. 22.

“A few months isn’t the issue,” Thor Equities chief Joe Sitt, founder of the Global Gateway Alliance, told Crain’s. “What matters to us is New York getting a 21st-century terminal that starts the process of changing LaGuardia’s perception from ‘Third World’ to ‘world class.'”

The reconstruction of the terminal is estimated to cost about $3.6 billion. The agency released a request for proposals in March, as previously reported. The decision to name a developer had already been delayed from July. [Crain’s]Mark Maurer