- Los Angeles World Airports, the owner of Los Angeles International Airport (LAX), is soliciting development ideas for a vacant 93-acre parcel it owns north of the airport, according to The Real Deal.
- The site is divided into two parcels called areas 1 and 2, according to Curbed LA. Area 1 will include office space and possibly some recreational areas, which could be developed above a planned Los Angeles underground stormwater treatment facility. Area 2 could see a low-density, landscaped office campus, with the west end of the property dedicated to community playing fields and parking.
- The project is part of a 340-acre plan that will include retail, pedestrian and bike areas, green space, permeable pavement and green roofs, according to Curbed. The stated goals of the master plan, which still must win Federal Aviation Administration approval because of its proximity to the airport, are to promote pedestrian culture, create a buffer of low-scale development between the airport and recreational areas, and to incorporate sustainable landscaping throughout the site.
The LAX project is just one of many in various parts of the U.S. that airport owners are planning developments to capitalize on surplus land.
As part of a $2 billion renovation and expansion, the Hillsborough County Aviation Authority (HCAA) will build near Tampa International Airport a 17-acre commercial development that will include two hotels, a 240,000-square-foot office building, a gas station-convenience store and a 20,000-square-foot retail center. HCAA officials said a private developer will build the project and then lease and manage the space. The HCAA will also rent space in the new development.
Airports that seek to develop their property in new ways are often looking for additional revenue streams to help with the capital projects that the FAA and airlines don't cover. As part of its latest aviation report card, the American Society of Civil Engineers (ASCE) said U.S. airports are struggling to keep up with capital needs, leaving passengers and airlines to deal with ever-increasing congestion. The society predicts the country's airports will have a funding gap of $42 billion between 2016 and 2025.
Congress had a chance to help fund airport construction and other projects by lifting the cap on passenger facility charges, which are $4.50 per flight, but lawmakers neglected to include such a measure in the $1.3 trillion omnibus spending bill that President Donald Trump signed last week.