Under Construction

JFK (Expansion)

Name: JFK (Expansion)
Address: New York City

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02.23.23

Start

2030

Completion

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Details

Broke ground February 2023, completing 2030. Financed with $1.9B from Goldman Sachs in November 2024.

The story so far

Announced Sep 8, 2022Gov. Hochul announced the $9.5B New Terminal One, the flagship of JFK's ~$19B redevelopment into a world-class global gateway.

governor.ny.gov

Phase 2 complete Jan 2023the $1.5B Terminal 4 expansion opened its 10 new Concourse A gates and enlarged check-in and arrivals halls, letting Delta close Terminal 2 and consolidate every JFK flight into one terminal

thepointsguy.com

Broke ground Feb 23, 2023New Terminal 6 broke ground at JFK, kicking off vertical work on the $4.2B terminal.

portauthoritybuilds.com

Financing secured Nov 7, 2024$1.95B bond issuance ($1.85B green bonds + $100M convertible) for JFK Terminal 6 Phase 1 construction, led by Goldman Sachs & Siebert Williams Shank, per PR Newswire

prnewswire.com

Topped out Jun 17, 2025New Terminal 6 reached substantial enclosure (curtain-wall) milestone per JFK Millennium Partners/Vantage Group

vantagegroup.com

Tenant announced Mar 30, 2026TAP Air Portugal signs on to new Terminal 6: the Star Alliance carrier will relocate into JFK Millennium Partners' $4.2B Terminal 6 later in 2026, joining JetBlue and the Lufthansa Group carriers.

prnewswire.com

TCO received May 2026Terminal 6 Phase 1 began revenue operations ~May 2026 (New Terminal One Phase A opening June 2026); overall program completes ~2030

passengerterminaltoday.com

New Terminal One slips to early 2027 Sep 2026terminal officials told The Points Guy the first phase (13 gates plus one temporary gate) will now open in Q1 2027 rather than 2026 while systems are tested with airline partners and concessions

thepointsguy.com

Expected opening 2030

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Milestones are dated to when they actually happened and linked to their source. This record fills in over time as TMW tracks the project.

TMW IntelligenceVerified Oct 19, 2026

AnnouncedBreaking GroundConstructionOpening SoonNow Open

TMW Intelligence

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About the project

JFK (Expansion) tracks the roughly $19 billion transformation of John F. Kennedy International Airport in Jamaica, Queens, the largest redevelopment in the airport's history, led by the Port Authority of New York and New Jersey with private partners. Its centerpieces are the New Terminal One, a 2.4-million-square-foot, 23-gate international hub developed by a consortium including Ferrovial, Carlyle, JLC Infrastructure and Ullico with design by Gensler, and the $4.2 billion, 10-gate Terminal 6 built by JFK Millennium Partners, a consortium of Vantage Group, RXR, American Triple I and JetBlue, with architecture by Corgan. Terminal 6 connects directly to JetBlue's Terminal 5 and has signed Lufthansa, SWISS, Austrian, Brussels Airlines, TAP Air Portugal, Air Canada, Cathay Pacific, ANA and other carriers. The program adds naturally lit check-in and departures halls, widebody-capable gates, new lounges and dining, and reworked roadways across the airport's central terminal area.