Skanska-led group to helm $4B LaGuardia overhaul

Port Authority taps team of developers and financial firms for the project

New York /
May.May 28, 2015 03:55 PM

The Port Authority of New York and New Jersey selected a consortium led by Swedish construction firm Skanska to undertake a $4 billion overhaul of LaGuardia Airport’s Central Terminal.

The agency announced Tuesday that it had chosen LaGuardia Gateway Partners – a group consisting of Skanska, airport operator Vantage Airport Group and a number of financial firms including Meridiam and Morgan Stanley – to refurbish the 1.3 million-square-foot terminal building.

The group beat out rival LGC Central Terminal Consortium, a joint venture comprised of Tutor Perini, Aeroports de Paris, TAV Construction, Goldman Sachs, Suffolk Construction, STV, Arup and Kohn Pedersen Fox, according to Crain’s.

The deal to renovate the terminal is not yet complete, with the Port Authority to negotiate and finalize an agreement over the development with LaGuardia Gateway Partners in the coming months.

That process could be complicated by a design completion initiated by Governor Andrew Cuomo – the results of which were presented late last month and called for the creation of a “great hall” main entrance at the terminal. [Crain’s]Rey Mashayekhi


Related Articles

arrow_forward_ios
Governor Andrew Cuomo and Senator James Skoufis (Credit: Getty Images, NY Senate)
Owners of some residential properties can’t hide behind LLCs anymore
Owners of some residential properties can’t hide behind LLCs anymore
Governor Andrew Cuomo and 538 Johnson Avenue in Brooklyn (Credit: Google Maps and Getty Images)
Landlords take another hit: Cuomo signs expanded Loft Law
Landlords take another hit: Cuomo signs expanded Loft Law
Governor Andrew Cuomo (Credit: Getty Images)
Cuomo wants to exempt NYC from prevailing wage bill
Cuomo wants to exempt NYC from prevailing wage bill
Gary LaBarbera now leads the New York City and New York State councils. (Getty)
Gary LaBarbera quietly takes helm of building trades statewide
Gary LaBarbera quietly takes helm of building trades statewide
House of Yes in Brooklyn (Getty)
New York’s venues operators say reopening isn’t “financially viable”
New York’s venues operators say reopening isn’t “financially viable”
All in all, the $212 billion budget is a mixed bag for the industry. (Getty/Illustration by Kevin Rebong for The Real Deal)
Real estate’s wins and losses in new state budget
Real estate’s wins and losses in new state budget
Gov. Andrew Cuomo (Getty, iStock)
Cuomo’s $1.3B for Penn Station work can’t go to towers
Cuomo’s $1.3B for Penn Station work can’t go to towers
Gov. Andrew Cuomo, Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie (Getty; iStock/Illustration by Kevin Rebong for The Real Deal)
NY lawmakers near deal to hike income tax for top earners
NY lawmakers near deal to hike income tax for top earners
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...