The Port Authority of New York and the New Jersey Board of Commissioners have approved a lease for a multi-billion terminal project at the John F. Kennedy International Airport, with work to start taking place in 2020.
The 2.9 million-square-foot New Terminal One project will be built across the existing terminals 1 and 2 on the south side of JFK, and will include a parking area. The project will cost approximately $7.4 billion and open in stages throughout 2025. It is part of a larger $13 billion refurbishment of JFK.
“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,” said Kevin O’Toole, chairman of the Port Authority.
The developers consist of Terminal One Group, a consortium of four international airlines: Lufthan
