With the recent groundbreaking, the New Terminal One begins construction of the $9.5-billion, 2.4-million-square-foot terminal, which is expected to generate over 10,000 total jobs, including more than 6,000 family-sustaining construction positions.
The start of construction follows a revised agreement late last year between the Port Authority and NTO. With Ferrovial becoming a lead sponsor of the project in June, alongside Carlyle, JLC Infrastructure, and Ullico, NTO’s financial close became the largest private investment ever committed to a U.S. airport terminal.
Once fully built, the New Terminal One will serve as a global gateway to the New York metropolitan area. The reimagining of the international passenger experience at JFK generates opportunities for local, minority, and women-owned business enterprises, as well as for service-disabled veteran-owned businesses (SDVOB). The NTO will be the largest international terminal at JFK and aims to engage the local southeast Queens community and reach its 30 percent minority- or women-owned business enterprises (MWBE) participation goal.
“We are proud to be part of the New Terminal One consortium and motivated to work with our partners and the Port Authority of New York and New Jersey to make this iconic project a success,” said Rafael del Pino, Chairman of Ferrovial.
Before commencement of construction, NTO had already contracted with 101 MWBE firms and paid more than $64.7 million for delivering professional services through key engineering, planning, construction, and design work. NTO paid over $46 million to 71 MBE firms and over $18.5 million to 30 WBE firms. The terminal will be built by union labor under a project labor agreement that will generate family-sustaining careers, assist in small business development, and drive workforce participation across Queens and western Nassau Counties.
NTO will be built on the sites of the current Terminal 1, Terminal 2, and the former Terminal 3. NTO will be built in phases, with full completion anticipated by 2030. The terminal will feature expansive, naturally lit public spaces, cutting-edge technology, and an array of amenities, all designed to enhance the customer experience. The New Terminal One will also have more than 300,000 square feet of dining, retail, lounges, and recreational space.
“Today marks a historic new chapter for our city, for our state, and for the community of Queens and Southeast Queens in particular,” said Dr. Gerrard P. Bushell, Chief Executive Officer of the New Terminal One. “When it is complete, this project will bring a world-class terminal that is sustainably designed and future focused, and a new gateway to the world’s greatest city. Through our extensive partnerships with the community and labor, we will seek to drive historically high MWBE participation goals and deliver jobs and real economic opportunity for this community for generations to come."
Overseen by global infrastructure operator Ferrovial, construction and design of the project will be led by AECOM Tishman and Gensler. Ferrovial brings 70 years of experience in infrastructure construction, including nearly 25 years of experience investing in, constructing, and managing sustainable airports and projects.
JLC Infrastructure, an investment firm, has a 30 percent stake in the project. Ullico, a privately held, labor-owned, insurance and investment company, is driving NTO’s labor commitment and is a project sponsor.