Jacmel Partners’ P3 Gamble Pays Off: LaGuardia Terminal B’s Model for Infrastructure Success

The $5.1 billion transformation of LaGuardia Airport’s Terminal B, completed in 2022, has emerged as a landmark achievement in public-private partnership (P3) models. Jacmel Partners’ minority equity stake in the project, facilitated through its engineering subsidiary Arora Engineers, has positioned the firm as a key player in North American infrastructure. But as the terminal’s accolades pile up—including Skytrax’s “Best Regional Airport in North America” designation in 2025—investors must ask: What made this P3 work, and what lessons does it hold for future projects?

The Project’s Strategic Design
Terminal B’s success hinges on its dual focus: operational efficiency and environmental sustainability. The facility’s 1,800 parking spaces, including EV charging stations, address a critical traveler pain point, while solar panels and energy-efficient systems cut carbon footprints. The terminal also achieved LEED Gold certification and Rick Hansen Foundation’s Gold accessibility rating, ensuring it meets global benchmarks for inclusivity and green design. These features, paired with dual skybridges and a 3,000-car garage, have driven passenger satisfaction scores to record highs.

The Financial Framework
Though Jacmel’s exact equity stake remains undisclosed, the project’s financing structure offers a masterclass in P3 innovation. Two-thirds of the $8 billion LaGuardia redevelopment (including Terminal B) was privately funded, with Jacmel collaborating alongside GCM Grosvenor (NASDAQ: GCMG) and Vantage Group LLC. This model—where private capital shoulders risk in exchange for long-term revenue streams—has become a blueprint for U.S. infrastructure.

The Port Authority’s 2025 budget of $9.4 billion, including $3.6 billion for capital projects, underscores ongoing commitment to maintaining LaGuardia’s excellence. Funds allocated to enhance transit links like the Q70 bus line further amplify Terminal B’s accessibility, boosting its appeal to airlines and travelers alike.

Awards and Market Validation
Terminal B’s accolades since 2022 speak to its success. Skytrax’s 2025 “Best Regional Airport” award and its second consecutive 5-star terminal rating reflect passenger satisfaction, while Forbes Travel Guide’s “Best Airport” title (2024) highlights its operational sophistication. These wins are no accident: the terminal’s design integrates public art, seamless curb-to-gate connectivity, and amenities that rival global hubs like Heathrow.

Why This Matters for Investors
The LaGuardia P3 model addresses a core challenge in U.S. infrastructure: funding. With federal infrastructure spending stagnating, private capital is increasingly vital. Terminal B’s ability to attract private investment while delivering sustainability and efficiency sets a precedent. For firms like Jacmel, the project’s long-term revenue potential—from parking fees, concessions, and operational efficiencies—justifies the equity stake.

Critically, the project’s ROI is already visible. Post-pandemic passenger numbers have surged, with LaGuardia’s 2024 traffic reaching pre-2020 levels. Meanwhile, the Port Authority’s $30 billion regional transformation plan—including overhauls at JFK and Newark Liberty—suggests Terminal B’s success will inspire similar P3 deals.

Conclusion: A Template for the Future
Jacmel Partners’ bet on Terminal B is paying dividends. By aligning private capital with public goals—sustainability, accessibility, and traveler satisfaction—the project has redefined what P3s can achieve. With Terminal B’s awards and the Port Authority’s continued investment, this model is primed to attract capital in sectors beyond aviation.

The numbers tell the story:
- $5.1B total project cost, with 67% privately funded.
- 1.3 million sq. ft. of space optimized for efficiency.
- Skytrax’s 5-star rating retained for two consecutive years.
- LEED Gold and accessibility certifications meeting global standards.

As cities worldwide seek to modernize infrastructure without overburdening public budgets, LaGuardia Terminal B stands as proof that P3s can deliver both financial returns and societal value. For investors, this isn’t just about parking garages—it’s about building the transit networks of tomorrow.