NEW YORK, Nov. 21, 2019 /PRNewswire/ -- The New Terminal
One Team welcomes The Port Authority of New York and New
Jersey's board authorization to enter into a lease agreement
to design, construct, finance, operate and maintain The New
Terminal One at JFK International Airport (JFK).
"The Port Authority's board authorization enables the delivery
of a world-class terminal to progress Governor Cuomo's Vision for
JFK and drive New York State's
nation-leading MWBE participation for the Project beyond
$1 billion," said Dr. Gerrard P. Bushell, Executive Chair of The New
Terminal One. "The authorization also supports progression of a
multi-year commitment to community development in Southeast Queens, and an increase in the
number of local jobs, educational programs and small business
capacity building."
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
and CAG Holdings, 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.
"Today's decision is a major step by the Port Authority towards
realizing the promise of good jobs for hard working Queens and regional residents," said
Edward M. Smith, CEO of Ullico.
"Through its partnerships with labor, commitment to apprenticeships
and support for local community initiatives, The New Terminal One
Team is creating opportunities for the men and women who build and
operate JFK."
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.
Earlier this year, The New Terminal One Team announced flight
training scholarships for local students at August Martin High
School in Southeast Queens. The
New Terminal One Team is also spearheading the development of the
"JFK Airport Academy" in collaboration with other JFK stakeholders
and existing Queens institutions,
to provide hands-on training for local residents looking to pursue
careers in aviation.
"We are pleased with the progress that we have made over the
past year," said Jim Reynolds,
Managing Partner of JLC Infrastructure. "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."
About The Carlyle Group and CAG Holdings
The Carlyle
Group (NASDAQ: CG) is a global investment firm with deep industry
expertise that deploys private capital across four business
segments: Corporate Private Equity, Real Assets, Global Credit and
Investment Solutions. With $222
billion of assets under management as of September 30, 2019, Carlyle's purpose is to
invest wisely and create value on behalf of its investors,
portfolio companies and the communities in which we live and
invest. The Carlyle Group employs more than 1,775 people in 33
offices across six continents.
CAG Holdings is The Carlyle Group's dedicated US-based
investment platform for airport infrastructure investment
opportunities globally. CAG Holdings is led by an experienced
management team with a track record of over 70+ airport projects
globally combined with a deep, localized understanding of the US
airport market.
For media inquiries, contact Christa
Zipf at christa.zipf@carlyle.com or at
+1-212-813-4578.
About JLC Infrastructure
JLC Infrastructure is an
investor and asset management firm focused on the transportation,
communications, energy, utilities and social infrastructure sectors
in the United States. The firm was
formed in 2015 by Loop Capital and Magic Johnson Enterprises and
currently manages investments across the country including the
redevelopment of Terminal B at LaGuardia Airport.
For media inquiries, contact info@jlcinfra.com.
About Ullico
For more than 90 years, Ullico, the only
labor-owned insurance and investment company, has been a proud
partner of the labor movement, keeping union families safe and
secure. From insurance products that protect union members, leaders
and employers, to investments in building projects that have
created thousands of union jobs, our customers continue to trust us
with protecting their families, employees and investments. The
Ullico Inc. Family of Companies includes The Union Labor Life
Insurance Company; Ullico Casualty Group, LLC.; Ullico Investment
Company, LLC (Member FINRA/SIPC).; and Ullico Investment Advisors,
Inc.
For media inquiries, contact Cori
Houlihan at choulihan@ullico.com or at +1 202 354
8044.
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SOURCE The Carlyle Group and CAG Holdings