The Port Authority of New York and New Jersey (PANYNJ) in partnership with American Airlines and Unibail-Rodamco-Westfield (URW) Airports, today announced a $125 million commercial redevelopment program for Terminal 8 at John F. Kennedy International Airport (JFK).
The project will feature a new Great Hall and more than 60 new shopping and restaurant offerings, with an emphasis on locally owned and diverse businesses that will create economic opportunities for the community.
The redevelopment project follows the recent completion of a $400 million expansion of Terminal 8 and will further enhance the customer experience at the terminal with duty-free shopping, performance space and new digitally enabled experiences for customers.
“This is another tremendous milestone in our extensive JFK Redevelopment Program,” said Rick Cotton, PANYNJ executive director. “We are excited for the continued transformation to bring customers a world-class travel experience, boost employment opportunities for our local communities, and provide a pathway for local and minority enterprises to propel their business as a design, construction or concession partner.”
American Airlines selected JFK T8 Innovation Partners, a joint venture led by URW and Phoenix Infrastructure Group, a minority-owned, Minority Business Enterprise (MBE) investment firm, and Holt Construction.
“It is an honor to partner with American Airlines and the Port Authority to help transform JFK and bring major benefits to New Yorkers and travelers from around the world,” said URW Airports CEO Dany Nasr. “We’re committed to ensuring Terminal 8’s concession program celebrates New York’s incredible diversity and represents the best of New York with a lineup that spotlights local, small and minority-owned businesses alongside global icons.”
To lower the barriers of entry into the airport industry for locally owned small businesses, T8 Partners will launch a small business accelerator program for Queens and other locally based enterprises that will provide technical assistance and innovative leasing approaches.
T8 Partners is also committed to achieving the Port Authority goal of 30 percent M/WBE participation in the design and construction of concession spaces and 30 percent Airport Concessions Disadvantaged Business Enterprise (ACDBE) for concession operations.
