The St Louis Airport Commission has approved plans for a major cargo development at Lambert-St. Louis International Airport. They include a 20-year lease with two (extendible to 30 or 40 years) with Bi-National Gateway Terminal for 48.75 acres land acquired in 2005 from aircraft manufacturer Boeing for a new cargo terminal and freighter ramp area. The project will be developed in three phases, with the first stage, a 1m sq ft cargo terminal, expected to take 18-24 months.
According to airport officials, the scheme is expected to generate more than $13.5 million in lease revenue alone, over the initial term of the agreement.
However, it must still be approved by the City of St Louis Board of Aldermen.
