Search
 

$850 Mil in Bonds Approved For Airport

ROMULUS, MI-Wayne County would use funds to expand gates at a new terminal or renovations of

By Robert Carr | Updated on September 27, 2001

ROMULUS, MI-Wayne County commissioners have approved an $850-million bond issue to finance about 25 new gates at the new Northwest Midfield Terminal. The administrators at Detroit Metropolitan Airport are considering plans to rebuild the existing terminals.

The terminals are the Smith and Davey terminals, currently occupied by the dominant Northwest Airlines, and Berry International Terminal. When Northwest vacates Davey at the end of 2001, airport administrators are considering plans to either take out half of the straight, finger-type concourses tomake it easier on taxiing planes, or follow a new idea and demolish Smith and Davey and build hub-style concourses.

Wayne County administrators, who run the airport, believe it might cost at least $250 million to complete the renovation plan. The new bond issue, or a few dollars of added costs for every passenger, will fund the improvements.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.