On Thursday, December 7, the Port Authority f New York and New Jersey approved its $8 billion budget for 2018. The budget included over $1 billion to go towards big redevelopment projects JFK, LaGuardia and Newark Liberty International Airports next year.
A budget that allocates $3.4 billion for capital expenses and $3.2 billion for operating expenses has been approved by Port Authority’s board of commissioners. Also, the agency will contribute $578 million to LaGuardia’s $8 billion redevelopment and $167 million to the $2.3 billion redevelopment plan of Terminal A at Newark.
6sqft reports, “The bistate agency oversees the area’s airports as well as six bridges and tunnels, the site of the World Trade Center and the Port of NY and NJ, facilities whose profits help finance the capital program and offset losses from others. A third of the Port Authority’s budget will be allocated for construction work at the airports, which have desperately needed upgrades. Plus, the agency’s executive director, Rick Cotton, told the WSJ that it expects a record number of passengers at airports, which will experience an increase of 1.7 percent from last year.”
The creation of a new terminal that spans one-million-square-feet and could accommodate 33 aircraft gates is one of the improvements planned for Newark. On Thursday, the board authorized paving work to begin, along with the demolition of concourses and buildings and the installation of a new drainage system. In 2021, a partial opening is scheduled for Newark’s new Terminal One, and it plans to be fully operational by 2022.
$55 million in additional funding for an AirTrain to LaGuardia’s second phase of planning, was approved by Port Authority last month. $20 million has already been allocated by the authority for the AirTrain, which plans to run from Willets Point/Citi Field to the airport. The AirTrain is just one part of the $8 billion plan by Governor Andrew Cuomo to renovate LaGuardia.
Last year, LaGuardia just beat Newark by a hair for the title of worst airport. LaGuardia’s transformation, which is scheduled to be complete by 2021, will include a modern makeover, with state-of-the-art amenities and additional public transportation.
According to 6sqft, “Cuomo’s $10 billion overhaul of JFK Airport, announced this past January, aims to unify all the terminals with an interconnected layout so the airport is more easily navigable, improve road access to the airport, and expand rail mass transit to meet projected passenger growth. Plus, the conversion of Eero Saarinen’s historic TWA flight center into a hotel, event space and dining hot spot is well underway. The project is expected to open in less than a year and a half.”
By Hannah Hayes
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