John F. Kennedy International Airport, one of the busiest airports in the United States, will begin its multi-billion terminal project next year following the recent approval of a proposed lease by Port Authority of New York and New Jersey Board of Commissioners.
The New Terminal One will be located on the south side of JFK, will be built across the existing Terminals 1 and 2, with a parking area set atop the memory of Terminal 3. In all, the project will cost approximately $7.4 billion and open in stages throughout 2025.
Until the new terminal’s opening, existing facilities will remain in operation.
“The Port Authority’s board authorization today shows important progress toward the agency’s mission to ensure a 21st-century customer experience by transforming our legacy assets into modern gateways,” Port Authority Chairman Kevin O’Toole said. “The New Terminal One is one of the major pillars of the redevelopment of the new JFK and builds on the success of the newly restored TWA hotel which opened earlier this year.”
The Port Authority will enter the lease with a consortium of airlines – Lufthansa, Air France, Japan Airlines, and Korean Air Lines – and development and financial partners – The Carlyle Group, JLC Infrastructure, and the Union Labor Life Insurance Company – that will confer on the design, construction, financing, operation, and maintenance of the new terminal.
If all goes as planned, however, the addition could represent a significant piece of the $13 billion plan for JFK that New York Gov. Andrew Cuomo announced in 2017. Cuomo’s vision includes new terminals on both the airport’s north and south sides, improved roadways, and centralized transportation options, which could increase capacity by at least 15 million passengers per year.