A New Terminal B
As the lead equity investor, developer and manager of LaGuardia Gateway Partners, Vantage Airport Group has been overseeing the redevelopment and operations of LaGuardia Terminal B since 2015. Vantage partnered with the Port Authority of New York and New Jersey to deliver on Governor Andrew Cuomo’s vision of a unified LaGuardia Airport, with a spectacular $5.1 billion new Terminal B – a world class terminal deserving of the world class city and region it serves.
The redevelopment includes a 35-gate terminal, a Central Hall, a parking garage, related roadways and supporting infrastructure – all with innovative construction phasing to deliver the project on time and without interrupting ongoing airport operations at one of the most critical airports in the U.S. airport system. The terminal’s iconic design features two elevated pedestrian bridges that span active aircraft taxi lanes – a first in the world – connecting the main terminal to two island concourses.
Project milestones to date include the completion of the parking garage in February 2018, followed by the opening of the first 11 gates and commercial offering in the Eastern Concourse in December 2018.
Opening on June 13, the Arrivals & Departures Hall will welcome all Terminal B passengers to check in, pass through centralized, state-of-the-art security screening, experience new shops, restaurants and amenities, and pick up their checked baggage. The first pedestrian bridge will also open, connecting the Hall to the Eastern concourse over top of the original terminal.
Terminal B will feature several notable hallmarks of a Vantage airport. The company’s 25-plus years of experience at more than 30 airports helped inform a distinctly New York sense of place in the terminal, through architectural and design elements, a tailored commercial program and the inclusion of permanent commissioned works of art that celebrate New York’s creative spirit. Sustainable design elements and the latest in travel technology and security screening will further enhance the passenger experience. Finally, in a new age of travel precipitated by the COVID-19 pandemic, Vantage has implemented enhanced safety and sanitization measures to ensure the health and wellbeing of passengers and employees at Terminal B.
To meet and exceed the Port Authority’s objectives for a new Terminal B, Vantage assembled a winning team, which took a holistic approach to planning, design, management and operations, airline engagement and financing. Vantage proposed an alternative design concept that accelerated construction, lowered capital and operating costs and enhanced operational efficiency, led transparent negotiations with the airlines to get project buy-in, and created a strong financing solution that generated significant market interest. Critically, Vantage leveraged its deep airport operations and management expertise to ensure an exceptional passenger experience, rooted in safety and security.
Vantage’s delivery of LaGuardia Terminal B is a template for future public-private airport projects.
Vantage is wholly owned by a perpetual fund of Corsair Infrastructure Partners (CIP), the infrastructure equity sponsorship and investment management business of Corsair Capital. Backed by CIP, Vantage is actively pursuing opportunities in the U.S. airport sector that play to its strengths: partnering to invest in, plan, develop and manage complex airport management and infrastructure projects, like Terminal B and the comprehensive commercial redevelopment project at Chicago Midway.
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