(May 6, 2015- St. Louis) The St. Louis Airport Commission approved a major development project at Lambert-St. Louis International Airport that is geared to be a catalyst for international cargo activity and jobs by expanding Lambert’s aviation facilities and capabilities on the north side of the airfield. The project will generate more than $13.5 million in lease revenue alone, over the initial term of the agreement. The agreement must still be approved by the City of St. Louis Board of Aldermen.
The commission approved a 20-year lease with two, 10-year extension options with Bi-National Gateway Terminal LLC for 48.75 acres of St. Louis City-owned property and facilities that were acquired in 2005 from The Boeing Company. The site holds the original McDonnell Douglas manufacturing complex, which has been vacant for more than a decade. A portion of facilities on the site will be demolished by Bi-National Gateway Terminal to build a state-of-the-art air cargo terminal and ramp space for freighter aircraft. The agreement calls for the project to be developed in three phases following the demolition period with the initial development covering more than 32 acres for a cargo handling facility in excess of one million sq. ft. New aircraft ramp space, totaling one million sq. ft., will give the facility runway access to Lambert's airfield.
"This project is a major component of the Airport's strategic plan to grow international cargo activity while also maximizing our land and aviation related assets to create jobs and new business activity for the region," said Lambert Director Rhonda Hamm-Niebruegge.
"This new air cargo project allows us to take advantage of excess capacity at Lambert while also raising our international profile," St. Louis Mayor Francis Slay said. "It gives companies more options and reasons to use Lambert and will help St. Louis become even more engaged in the global economy."
The project builds on the logistics sector of the St. Louis region and complements another airport iniative underway to develop a dual customs air cargo facility for imports and exports between Mexico and the U.S. through St. Louis. Final approval for an international customs clearance facility is pending approval by the Government of Mexico.
The company is expected to take 18-24 months to build out the initial phase of the project.
