LaGuardia’s Terminal B has officially been approved with a proposed cost of $4.2 billion and a completion date sometime between 2020-2021. The Port Authority of New York & New Jersey’s board of governors voted yesterday to approve the project that will allow a group of seven developers to design and build the new central terminal. The group will also have management rights through 2050. The plan calls for the demolition of the current terminal and replacement with a larger version which will link to Terminal C and D. The current terminal was built over 50 years ago to handle 8 million travelers per yer, 13.7MM used the terminal in 2015.
“What you witnessed today is the most important board meeting in Port Authority history,” said Patrick J. Foye, the authority’s executive director. Mr. Foye said he thought it represented “the single largest allocation of capital” by the authority in one day.
Gov Como said “This vote marks a critical step forward in our effort to overhaul La Guardia Airport, our plan will fundamentally transform La Guardia — replacing what is now an outdated and poorly designed complex with the world-class airport New York has always deserved.”
The approval came with news that a new Port Authority Bus Terminal would be built in New York City close to the current structure. The current bus terminal opened in 1950 and is the second busiest in the world behind Tel Aviv.
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