6.10.22 - Governor Hochul Announces Construction of a $9.5 Billion New Terminal One at JFK Airport Will Begin This Summer as the Final Pieces of the Project Are in Place
' Governor Kathy Hochul today announced that construction of a $9.5 billion, world-class New Terminal One at JFK International Airport will move forward this summer now that financial and environmental approvals have been secured, including today's financial close for the first phase of the project.
"The construction of this new state-of-the-art terminal at JFK is key to our vision for a new era in New York," Governor Hochul said. "This transformative project is moving forward full steam ahead and when complete will provide for a passenger experience that serves as a model for the unparalleled potential of New York. Congratulations and thank you to everyone who has put in the years of hard work to make this project possible."
In December, Governor Hochul announced that the Port Authority's Board of Commissioners approved an agreement with the New Terminal One consortium to build a world-class terminal that will anchor the south side of JFK Airport. Last week, the Port Authority's Board voted to approve a new lead investor in the project. Ferrovial, a global airport operator with experience building world-class terminals, will acquire 96 percent of The Carlyle Global Infrastructure Fund's 51-percent stake in the New Terminal One, the consortium that was selected to design, build and operate the state-of-the-art terminal.
The announcement that the New Terminal One will begin construction this summer comes just 10 days after Governor Hochul, The Port Authority and Delta Air Lines celebrated the opening of a new Terminal C at LaGuardia Airport, marking the substantial completion of a Whole New LaGuardia.
Port Authority Executive Director Rick Cotton said, "Today's financial close on the first phase of the New Terminal One project at JFK Airport is an historic moment that has been five years in the making. We look forward to partnering with Ferrovial, JLC Infrastructure Group, Ullico and Carlyle to build a world-class, top-rank terminal that will be the largest international terminal at JFK and whose $9 billion dollar-plus investment will help drive the region's recovery. We want to thank New York Governor Kathy Hochul, U.S. Senate Majority Leader Chuck Schumer, Deputy Secretary Polly Trottenberg of the U.S. Department of Transportation, U.S. Congressman Gregory Meeks, Queens Borough President Donovan Richards, and the leadership and staff of the Federal Aviation Administration in Washington, in Region 2, and at JFK Airport. Without their support, getting this important project to financial close today would not have been possible."
Port Authority Chairman Kevin O'Toole said, "With a new LaGuardia Airport substantially complete and a new Terminal A at Newark Liberty Airport nearing completion, today's announcement about moving forward with a New Terminal One at JFK is another demonstration of the Port Authority's commitment to creating world-class airports for our region. The unprecedented level of investment by our private partners is a vote of confidence in the future of our region and our ability to take on and complete extraordinary projects that will serve as an inspiration for generations to come."
JFK's New Terminal One will be built on sites now occupied by Terminal 1, Terminal 2 and the former Terminal 3, where it will anchor JFK's south side. At 2.4 million square feet, the new terminal will be the largest terminal at JFK when complete - nearly the same size as the new LaGuardia Airport's two new terminals combined. Construction of the new terminal will take place in phases. The first phase, including the new arrivals and departures hall and first set of new gates, is expected to open in 2026.
After completion of all three phases in 2030, the New Terminal One will have 23 gates as well as bright and airy check-in halls and arrival spaces designed to enhance the customer experience and compete with some of the highest-rated airport terminals in the world. Customers will enjoy world-class, New York-inspired dining and retail amenities, as well as space for lounges, an indoor green space and family-friendly amenities. The New Terminal One will incorporate the latest advances in both sustainability and security and be infused a with uniquely New York sense of place. '