The board of Port Authority of New York and New Jersey has authorized to enter into a lease agreement with the New Terminal One Team to design, construct, finance, operate and maintain The New Terminal One at  John F. Kennedy International Airport (JFK) in Queens borough of New York. The project is expected to cost around US$ 7.4 billion.

The New Terminal One is led by an innovative coalition of airlines, labor, minority- and women-owned businesses (MWBE), and strong operating and financial partners including The Carlyle Group, CAG Holdings (Carlyle Group's dedicated US-based investment platform for airport infrastructure investment opportunities globally), JLC Infrastructure, Ullico and Reach Airports (a joint venture between Munich Airport International and CAG Holdings).

The state-of-the-art 23-gate facility will reimagine the international passenger experience at JFK and span the sites of the current Terminal One, Terminal 2 and the former Terminal 3. Construction is slated to begin in early 2020 and conclude at the end of 2025, with phased openings to ensure uninterrupted gate capacity and a seamless transition. The Terminal One Group Association (TOGA), comprised of Air France, Japan Airlines, Korean Air and Lufthansa, will continue to operate and maintain the existing Terminal One until completion of the first phase of The New Terminal One.

The New Terminal One Team is committed to local inclusion and labor participation with an industry-leading focus on diversity and capacity-building opportunities, including a 30% MWBE participation goal. Early progress towards this commitment has been demonstrated by key contracts with local MWBE firms including A.B. Engineering PC and ZI Engineering PC for structural engineering services, JT Hicks Associates for surveying services, and Jamaica, NY-based architectural firm, RCGA Architects, for design services. In addition, McKissack & McKissack, the nation's oldest African-American design and construction firm, is providing project management oversight services.

In addition to its MWBE commitments, The New Terminal One Team continues to engage with the local community. The New Terminal One Team, alongside the Port Authority and other JFK terminals, recently launched four community development initiatives including a job recruiting program, second chance employment, an aviation-focused education program for 300 students in Queens and a commitment by The New Terminal One to reserve 50% of its food & beverage venues for New York and Queens local businesses.

Managing Partner of JLC Infrastructure Jim Reynolds said: "We are pleased with the progress that we have made over the past year. The New Terminal One Team is shifting the paradigm for public-private partnerships by engaging the local community to deliver a world-class facility. It will serve as a model for large infrastructure projects across the country."