USD/BTC =$87,807
Block 889,448
TL:DRNew York's JFK airport is an overlapping patchwork of open terminals, giant building sites and burgeoning infrastructure, wedged in by thousands of homes on one side and the ocean on the other.
Passengers and project executives alike describe the $19 billion mega-project to completely overhaul the United States' largest global aviation gateway as "organized chaos" -- even as the airport remains open and passenger numbers grow."For me, it's the most complex project I've ever worked on," said Gina Bigler, a senior engineer of construction at the JFK Redevelopment Program to entirely remodel the airport that handles more international passengers than any other in North America.
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- Political headwinds -
Despite the Coronavirus disruption and the project's scale and complexity, currently the largest of its type in the US, the redevelopment remains on budget and on schedule.
Collaboration between the airport owner and private businesses guaranteed "oversight from a public oversight perspective," said JFK Millennium Partners CEO Steve Thody, responsible for the airport's new Terminal Six."But it allows you to bring private money into the deal, which allows you to advance infrastructure probably at a faster pace than you could do otherwise."PANYNJ executive director Rick Cotton said that approach --
with no taxpayer money involved -- meant the airport redevelopment was insulated from political headwinds as it did not depend on federal funding.[….]
The largest piece of the puzzle is the entirely new
Terminal One. Measuring 2.5 million square feet (232,000 square meters), the cavernous $9.5 billion megastructure is shaped like a butterfly taking flight and used as much steel as five Eiffel Towers.Financing came from an unprecedented public-private tie-up that reportedly included a $6.5 billion bank loan.
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My Thoughts 💭
For those who are bearish on America should review this project. Using private money, pushing the envelope with a great logistical strategy to do construction and keep operations open. For those who ever flew out of JFK it’s a shame how outdated the terminal was. I am glad to see it finally get modernized to serve the great international city of New York.