Port Authority will invest along with Delta to create a unified terminal complex
While the estimated cost of Laguardia Airport’s renovation continues to leap, the good news is that funding for the project is seemingly being appropriated just as quickly as the price is changing. According to the Real Deal, the Port Authority will put forth $600 million towards the second phase of the renovation. That's expected to cost about $4 billion overall, though it’s likely that figure will change over time. Delta will pony up the funds for the rest of the project, and maintain responsibility for any cost overruns.
When New York State Governor Andrew Cuomo initially announced the renovation project, it was slated to cost $4 billion. Since then, that price tag has risen to $8 billion, even though construction only began this summer. Let’s just hope the new runways, roadways, and parking garages are well worth it.
- Port Authority to contribute $600M to next phase of LaGuardia project [The Real Deal]
- LaGuardia Airport Revamp Price Tag Could Rise to $8B [Curbed]
- All LaGuardia Airport coverage [Curbed]
from
http://ny.curbed.com/2016/7/22/12254290/laguardia-airport-revamp-port-authority
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