Missouri airport P3 sealed

The City of Kansas City and private sector partner Edgemoor have signed the contract for the Kansas City International Airport P3.

The city council voted 11-1 to approve the contract on February 28 and it was signed the same day, an Edgemoor spokesperson confirmed to P3 Bulletin.

The approval provides the go-ahead for the design and build of the new terminal which will be built at the site of the closed Terminal A and is expected to open in early 2023.

The approved ordinance includes a development agreement with Edgemoor Infrastructure & Real Estate, as well as the developer’s guaranty (pledge), terminal workforce enhancement program and the airlines’ Use and Lease Term Sheet.  It allows the Aviation Department and Edgemoor to begin demolition of Terminal A, and to start building the new terminal.

Kansas City selected Edgemoor as the developer in September 2017, and the approval of 75% of Kansas City voters for the project came through in November 2017.

Other significant approvals that have come through in recent days include:

Airlines have signed the term sheet for the project financing. This approval is signed by seven airlines representing 95.5% of airline volume at KCI

The Federal Aviation Administration recently approved the project’s environmental assessment

The city council will now consider gap financing, the airline Use and Lease Agreement and bond issuance for the $1.5bn project.

The new terminal will feature 39 gates, with infrastructure to support future expansion. Over 1 million sq ft will provide room for improved and efficient security, ample amenities, and more bathrooms. The new terminal will include a two-level curbside drop-off and pickup area which will be more convenient and less crowded for travelers. Also, waiting areas at each gate will be larger to accommodate the increasing number of passengers on modern aircraft. 

Construction activity is expected to begin in late March 2019. Terminals B & C will continue normal operations during construction.