Phase I of the $4.2 billion (John F. Kennedy) JFK Airport Terminal 6 project will soon commence in New York. The Port Authority of New York and New Jersey(PANYNJ) is the agency overseeing the construction of this two-phase project.
Last year, PANYNJ’s Board of Commissioners approved the lease for the project. However, they were unable to secure the necessary funding until recently. PANYN entered into a public-private partnership to secure the necessary funding for the JFK Airport Terminal 6 project.
Under the agreement terms, PANYN will provide $130 million in capital funds to build the enabling infrastructure. While JFK Millennium Partners will cover the remaining construction costs. This is a private consortium of investors comprising Vantage Airport Group, American Triple I, real estate developer RXR, and JetBlue.
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Development plans for the JFK Airport Terminal 6 project
Overall, the JFK Airport Terminal 6 project will be an $18 billion investment in total. Phase I will add a new 1.2-million-square-foot facility with 10 gates, out of which 9 gates will handle wide-body aircraft. Construction on this phase will commence by early next year and it will not affect the operations of the airport. Especially since the project will take place in an area that is currently serving as an aircraft parking space.
The airport expects the new terminal to be operational for its first passengers in 2026. Its location will be on the northern side of the airport between the existing Terminals 5 and 7. Additionally, the new Terminal 6 will connect seamlessly to Terminal 5, which is JetBlue’s current home.
According to PANYNJ’s Executive Director, Rick Cotton, Phase II of the JFK Airport Terminal 6 will replace the existing Terminal 7. Therefore, the airport will have to demolish Terminal 7 to move forward with the second phase of the project. This construction phase has a delivery date set for 2028. Meanwhile, British Airways, which is the main tenant of Terminal 7, is set to move into the newly revamped Terminal 8.
