MoU agreed for US$1 billion Kansas City airport
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The Kansas City Council has approved a revised Memorandum of Understanding (MoU) with Edgemoor for the development of a new single terminal airport in Kansas City, Missouri, USA.
Edgemoor will design, build and finance the airport, which will comprise a 750,000-square-foot terminal with 35 gates, expandable to 42, and a parking garage with at least 6,500 spaces. The airport will serve international destinations. The estimated capital costs are US$1 billion.
The project was unanimously approved in November 2017, through a referendum of Kansas City voters. Nevertheless, the city council rejected the initial MoU with Edgemoor in December. 45 concerns were formally expressed by council members. The revised version has apparently resolved 43.
Edgemoor is currently finishing environmental, architectural and design work and negotiations with airlines and labor. Once these are completed, the firm will prepare a development agreement, which has to be approved by the council. If it is approved, groundbreaking will be scheduled for the fall.
As reported on this platform, the development of the project was kickstarted by an unsolicited proposal from Kansas City-based engineering firm Burns & McDonnell, submitted in May 2017. The Kansas City Council issued a Request for Qualifications in June. Four bids were submitted in response, with the Edgemoor-led team being recommended as the preferred developer in September.
Edgemoor's team also includes 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) is the lead architect of the project, and Project Finance Advisory Limited (PFAL) is the team's financial advisor.
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