Board members of the Port Authority of New York and New Jersey have approved a nearly $500 million in additional spending on the $2.3 billion Terminal A Redevelopment Program at Newark Liberty International Airport.
The board also approved the spending of $250 million on two new projects: a $175 million to pave 40 airside acres to create needed aircraft parking positions, and a $75 million project for foundation work on new terminal frontage to accommodate a future AirTrain alignment. The projects will be implemented by program contractors concurrent with the Terminal A air side and land side work.
An $8 million study was also given the green light to analyze the feasibility of consolidating rental car facilities (CONRAC) to centralize operations of all rental agencies serving the airport, as well as the design and construction of a new 3,000-space public parking garage that would help serve Terminal One and could be integrated into the CONRAC facility. Pending the outcome of the feasibility study, a development agreement could come later next year.
The $500 million will go towards major landside and airside projects as part of the program that the PA broke ground on in June. The project is to construct a new, state of the art, 1,000,000-square-foot terminal by 2021 that will accommodate 33 aircraft gates, provide a more efficient roadway network and create parking for about 3,000 vehicles. The project is also expected to create roughly 10,400 jobs and pump close to $4 billion into the regional economy.
“Newark Liberty is experiencing unprecedented growth in passenger traffic, up about 7 percent this year and on pace to greatly exceed the record 40 million customers we served in 2016,” said Port Authority Chairman Kevin O’Toole in an announcement. “As another record year for Newark Liberty and our entire airport system draws to a close, this vote reaffirms our agency’s commitment to modernizing our airports and delivering world-class customer service.”