The team leading the Terminals 6 and 7 Redevelopment Project at New York’s JFK International Airport marked another milestone on December 2, when JetBlue and JFK Millennium Partners (JMP) – composed of Vantage Airport Group and RXR Realty – announced a new investment partner, American Triple I Partners, a 100% minority-owned and managed business enterprise.
Following a request for proposals to the investment community and competitive selection process, JetBlue and JMP selected American Triple I Partners (ATI) as a 30 percent equity investor in the project. Based in New York, ATI is a developer and manager of infrastructure assets with decades of experience in project development and finance.
This new partnership is an important early step toward achieving New York Governor Andrew Cuomo’s 30 percent Minority and/or Women-owned Business Enterprises (MWBE) participation goal at all phases of the multi-billion dollar transformation of JFK Airport.
New York’s Hometown Airline® , JetBlue has a significant presence at JFK and was designated by the Port Authority of New York and New Jersey to build a 1.2 million square foot terminal featuring up to 12 international gates, approximately 74,000 square feet of commercial dining and retail amenities, including lounges and recreational space. As JMP, Vantage Airport Group and RXR Realty were selected as the preferred development partner for the redevelopment in March of 2018.
American Triple I will focus its efforts on investing and managing funds for the project from traditional institutional investors and minority and female investors, as well as helping lead the project’s community engagement initiatives.
The multi-billion dollar plan to transform JFK into a unified, world-class gateway will continue to offer compelling opportunities for MWBE involvement in all elements and stages of the project, from investment to construction, concession and operations contracts, offering local employment and community involvement opportunities.
At each of our airports, Vantage is committed to fostering growth and independence in our communities. We are proud of the strong relationships we build with Minority and/or Women-owned Business Enterprises and Airport Concessions Disadvantaged Business Enterprises (ACDBEs).