The project encompasses the construction of two hangars on Modern's Breslau parcel at Republic totalling over 81,000sq ft, comprising of 71,200sq ft of hangar space and 10,100sq ft of office space. The hangars will be equipped with 28 foot high doors capable of accommodating today's largest business jets. The first hangar, at 35,100sq ft, is fully leased out exclusively to one customer and is expected to be completed in August 2024. The second hangar, totalling 46,200sq ft, is comprised of (a) two separate bays of 20,000sq ft of hangar and 4,200sq ft of office that are fully leased out exclusively to one customer, and (b) 20,000sq ft of hangar and 2,000sq ft of office that is still available. The second hangar is expected to be completed in November 2024. The development cost of both is expected to exceed $27 million.
The hangars were designed with sustainability in mind, with energy efficient features such as sensor lighting and mechanical systems, building insulation that exceeds code requirements and the use of recycled materials.
CEO Mark Carmen says: "We are very excited to begin the construction of our first hangars at Republic airport since our acquisition last year. This project will vastly increase our presence on the field while also adding to the numerous advantages that Republic airport offers to customers. We have capacity to develop more hangars at Republic and look forward to partnering with the airport authority and NYSDOT to pursue these additional hangar development projects in the future."