NEW YORK CITY—After a deal with hotelier Andre Balazs to redevelop the storied TWA terminal at John F. Kennedy International Airport fell apart earlier this year, the Port Authority of New York and New Jersey has released a request for proposals to convert the terminal into a hotel.

On Friday, Aug. 8, the agency that controls the airport issued the RFP seeking developers to lease the landmark property for up to 75 years, convert it into a hotel and operate it. The Port Authority states in the RFP that it is looking to have the terminal, which first opened in 1962, converted into a hotel within two years of selecing a winning developer. The Port Authority anticipates signing a lease for the building that begins on Jan. 1, 2016, according to Crain's New York Business.

The agency states in the RFP that it is seeking real estate developers and hotel owners/operators to respond to the solicitation. “This RFP is part of a process to identify a development team capable of completing an adaptive reuse of the landmark Trans World Airlines Flight Center, Building #60 (Flight Center) located at John F. Kennedy International Airport, as a high quality hotel that is economically viable and respects the historic significance of this property,” the agency states.

The RFP also states that the developer will have the sole responsibility of obtaining all equity and debt necessary for the project. 

New York City landlord and developer Joseph Sitt, who has been an advocate for improvements to the region's airports, said of the TWA terminal project, "Major airports around the country and the world have first-class hotels. New York's major international airport should have one too. A hotel is a particularly good fit for the TWA Flight Center, which is such an icon of flying's golden age." See story in Crain's New York Business.