Minority-Owned Investment Firm Plays Key Role in JFK T8 Redevelopment

URW has teamed up with minority-owned infrastructure investment firm Phoenix Infrastructure Group to deliver the $125 million commercial redevelopment of JFK Terminal 8

The next phase of the redevelopment at Terminal 8 of John F. Kennedy International Airport is underway, led by Unibail-Rodamco-Westfield (URW) Airports and minority-owned equity partner Phoenix Infrastructure Group.

Phoenix Infrastructure Group (Phoenix), a minority-owned, MBE-certified firm and 30% development partner, is led by Co-Founder Jeremy Ebie. Ebie is serving as Chief Financial Officer of the $125 million transformation of the terminal, including exciting new dining, retail, duty free, and entertainment offerings and digital-forward new customer amenities.  

Ebie has more than 15 years of experience across infrastructure, municipal finance, public-private partnerships, investment banking, and advisory. Setting the firm apart from others, Phoenix Infrastructure is one of only a few minority-owned firms participating in the infrastructure investment space since its inception in 2015. Phoenix is an industry leader and innovator in both project financing and delivery structures as well as Environmental, Social, and Governance strategies in infrastructure development, investment, and management. Phoenix uniquely focuses on projects that positively impact local communities through impact equity investments in critical infrastructure. In addition to JFK Terminal 8, Phoenix is an investor/developer of the Washington, D.C. Smart Streetlights System and the Charlotte Gateway Train Station, among other regional and industry-defining projects.  

“At Phoenix, we seek to empower local citizens to benefit directly from our investment and direct participation as an equity investor in the communities that our projects inhabit,” Ebie said. “We are excited about the opportunity to build positive effects on the Queens community through the JFK redevelopment, and we are proud to be an equity partner of a team that is truly committed to diversity and positive social impact.”

“We are thrilled to partner with Phoenix on the next phase of the JFK redevelopment,” said Bradley Tollefson, Senior Vice President, Development, URW Airports. “Together with Jeremy and his team, we know we are not only going to deliver a world-class customer experience but also partner with American Airlines, the Port Authority, and across Queens to ensure the project provides tangible benefits for the surrounding community.” 

Throughout his career, Ebie has served as a financial and investment advisor to federal, state, and local governments engaging private sector investment as well as private investors developing infrastructure investment vehicles in transactions totaling more than $8 billion in asset value. Ebie has participated as an investment banker and financial advisor on both innovative public-private partnerships (P3s) as well as municipal finance debt underwritings for social infrastructure (civic buildings), energy, and transportation projects. He also has advised commercial, federal, state, and local agencies on developing programs designed toward the analysis and procurement of P3s.  “A minority-owned firm playing a major role in the redevelopment of JFK T8 is a celebratory milestone,” said Eboni Wimbush, President & CEO, Airport Minority Advisory Council (AMAC). “AMAC advances minorities and women participation in the aviation space, and this partnership and redevelopment is exactly what we want to see more of across the country.”

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