San Antonio launches $2.3B push to finance airport expansion
City leaders believe San Antonio has a sound plan to fund a landmark project backed in part by key airline deals.
W. Scott Bailey, San Antonio Business Journal
SAN ANTONIO – San Antonio will lean heavily on the bond market to secure the bulk of the funding needed to carry out an ambitious expansion and improvement project at San Antonio International Airport, expected to cost more than $2 billion.
That process is underway, as the city is set to issue approximately $946 million in initial general airport revenue bonds (GARBs) in the coming days.
Officials expect to secure well over $2 billion through multiple GARB issuances and airport facility fees.
The centerpiece of that airport makeover is a new third terminal that will house up to 18 additional gates and cost roughly $1 billion dollars to construct.
Work on that portion of the project is underway and is expected to be completed by 2028.