Kansas City to get US$1 billion International Airport P3
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Kansas City voters have finally approved the plan to replace the current layout of Kansas City International Airport with a single terminal. Kansas City overwhelmingly supported the new terminal with 75% of votes.
Voter have overwhelmingly approved the US$1 billion project after years of back and forth and deal-making, a complicated procurement process, complete with ethics complaints and calls for a do-over.
As we reported in early September, the Edgemoor Infrastructure & Real Estate Team was recommended by the KCI Selection Committee as its preferred partner to privately finance, design, and build a new single terminal at Kansas City International Airport.
The team also included equity investor Meridiam Infrastructure, and a design-build joint venture comprised of Clark Construction Group, Kansas City-based contractor Clarkson Construction, and The Weitz Company. Skidmore, Owings & Merrill (SOM) will serve as the lead architect, and Project Finance Advisory Limited (PFAL) will be the financial advisor.
The City now intends to move forward with the signing of the Memorandum of Understanding (MoU) with the consortium.
The selection of Edgemoor came after a multi-step procurement process that included separate qualifications-based and financing-based submissions, an interview, and follow-up questions posed by the City to all the proposers. The committee recommended Edgemoor Infrastructure and Real Estate over other teams led by AECOM, Jones Lang LaSalle and Burns & McDonnell.
According to sources, Kansas City Mayor Sly James:
“We’ve come a long, long way. But here we are tonight and the voters of Kansas City have sent us a clear message again that they’re excited about the direction the city is headed in, and they want us to keep that momentum going.”
The airport scheme comprises of a 750,000-square-foot terminal with 35 gates but expandable to 42, and a parking garage with at least 6,500 spaces.
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