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Lendlease and Turner Construction are teaming up as co-developers of the $1.5B expansion of the Jacob K. Javits Center on the far west side of Manhattan.
The directors of the New York Convention Center Development Corp., a state entity that runs the 1.2M SF convention hall, gave the firms the nod Tuesday, the Commercial Observer reports.
The partnership tapped the Atlanta-based firm tvsdesign as the project’s architect, beating out rival firms Skanska USA, HOK and STV. Lendlease and Turner stand to gain a $12M bonus if the 90k SF expansion is finished ahead of the 46-month timetable set forth by the NYCCDC.
The money for the expansion will mostly come from New York State, which has been on an infrastructure-building tear under Gov. Andrew Cuomo, with major state-sponsored projects in the pipeline at LaGuardia Airport, Penn Station and elsewhere.
The state will pick up $1B of the cost. The rest will come from government bonds issued in 2015 and 2016. [CO]
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