$230M secured for construction projects at JFK Airport

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MCR and MORSE Development secured $230 million construction loan from M&T Bank to redevelop the TWA Flight Center and construct the TWA Hotel at John F. Kennedy International Airport.

The redevelopment will include a complete restoration of the Eero Saarinen-designed midcentury modern landmark to its 1962 glory.

The TWA Hotel will feature 512 rooms; a 50,000-sq.-ft.event center; six restaurants and eight bars; a variety of high-end retailers and services; a museum; a rooftop pool and a 10,000-sq.-ft. observation deck; and a 10,000-sq.-ft.fitness center.

The hotel will offer connections to JFK Terminal 5 via Saarinen’s arrival tubes made famous by the 2002 film Catch Me If You Can. It will also offer access to all terminals via the AirTrain.

“The execution of this construction loan, facilitated by M&T Bank, brings us one step closer to reviving this treasured landmark and reopening it to the public for generations to come,” CEO Tyler Morse said in a statement.

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