The Long Beach City Council on Tuesday approved a 50-year ground lease with Sky Harbour, a White Plains, N.Y.-based aviation firm, to build a $60 million, five-hangar campus for private jets.
According to the agreement, the company will lease a 17-acre lot on the west side of the Long Beach Airport that will be constructed in several phases through spring 2028.
In the first year, the company will pay $29,778 a month — $48,389 in the second year. Once construction is completed, the company will pay $78,166 per month, with a 3% annual increase.
Once finished, the campus will include five aircraft hangars — around 43,000 square feet each — meant to hold up to 25 ultra-long range business jets. Each hangar will have a lounge and storage area, as well as office…more
Source lbpost.com
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