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Law360: US$4.2B JFK Terminal To Break Ground Next Year, NY Gov. SaysNovember 17, 2022
Financing for John F. Kennedy International Airport’s new Terminal 6 has closed and construction will begin early next year. The US$4.2 billion deal signals the near completion of a redevelopment program for JFK that consists of multiple projects worth a total of US$18 billion. A consortium of investors, JFK Millennium Partners—which includes Vantage Airport Group, American Triple I, RXR Realty LLC, and JetBlue Airways, partnered with the Port Authority of New York and New Jersey to execute the project. “This historic US$18 billion investment will not only transform JFK into a world-class airport, but also create 4,000 jobs in the process, and I thank everyone who put in the years of hard work to move this project forward,” New York Governor Kathy Hochul said. An O’Melveny & Myers LLP team led by partners Eric Richards, Denise Raytis, M. Elizabeth Dubeck, and John Rousakis advised the consortium on the deal.
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