JetBlue partners for new terminal
10 AIRPORT VOICE, MARCH 2020
Firms include ATI, Vantage, RXR
JFK Millennium Partners
(JMP) is the preferred development
partner selected by JetBlue
in March 2018 to advance the airline’s
Terminals 6 and 7 redevelopment
project at JFK International
Airport. JMP is composed of Vantage
Airport Group, an industry
leading investor, developer and
manager of award-winning global
airport projects, and RXR Realty,
a leading New York-based real estate
operating and development
company. For more information,
JetBlue and JFK Millennium
Partners selected private equity
investor American Triple a
woman minority owned business
nterprise (WMBE)as financing
partner for terminals 6 and 7 redevelopment
project.
Following a request for proposals
to the investment community
and competitive selection process,
JetBlue and JMP selected American
Triple I Partners (ATI) as a
30 percent equity investor in the
project. Based in New York, ATI is
a developer and manager of infrastructure
assets with decades of
experience in project development
and finance.
This new partnership is an important
early step toward achieving
New York Governor Andrew
Cuomo’s 30 percent MWBE participation
goal at all phases of the
multi-billion dollar transformation
of JFK Airport.
JetBlue, New York’s Hometown
Airline® with a significant presence
at JFK, was designated by
the Port Authority of New York
and New Jersey to build a 1.2 million
square foot terminal featuring
up to 12 international gates,
approximately 74,000 square feet
of commercial dining and retail
amenities, including lounges and
recreational space.
JetBlue is working with JMP,
a private consortium comprised
of Vantage Airport Group - an industry
leading airport investor,
developer and manager known
for leadership roles at more than
30 airports in its 25-year history
(including the new Terminal B at
LaGuardia Airport), and RXR Realty
- an industry leader in developing
multi-billion dollar projects
across the New York region. The
consortium offers significant experience
in fostering growth and
talent through MWBE outreach
and compliance.
“With their vast investment
and leadership experience and
commitment to community partnership,
we are proud to welcome
American Triple I Partners to the
team,” said Lisa Reifer, Vice President
Infrastructure, Properties
and Development, JetBlue. “ATI’s
participation strengthens and diversifies
the JetBlue/JMP Partnership
to the benefit of this worldclass
terminal project.”
With the new partnership in
place, American Triple I will focus
its efforts on investing and managing
funds for the project from
traditional institutional investors
and minority and female investors,
as well as helping lead the
project’s community engagement
initiatives.
“The modernization of JFK Airport
is transformational for New
York City, providing an opportunity
to reimagine one of the most
important gateways in the world,”
said American Triple I CEO David
J. Cibrian. “As partners in the redevelopment
of JFK Terminals 6
and 7, American Triple I looks forward
to bringing real value to the
project through our experienced
team of infrastructure development
and fund management professionals.”
The multi-billion dollar plan
to transform JFK into a unified,
world-class gateway will continue
to offer compelling opportunities
for MWBE involvement in all elements
and stages of the project,
from investment to construction,
concession and operations contracts,
offering local employment
and community involvement opportunities.