The New York company behind the redevelopment of a 6-acre site at Addison Airport has increased its project budget by at least $5 million.
“The increase is largely due to owner-initiated improvements intended to enhance the quality and aesthetic of Sky Harbour‘s offering to residents and introduced as a result of learnings at existing Sky Harbour facilities,” the company announced in a news release.
The company develops and manages business aviation hangar campuses at airports across the United States.
The estimated budget for Phase 1 of the project has increased from $25-$27 million to $30-$32 million. Sky Harbour broke ground at Addison Airport in late October. At full build-out, six private-jet hangars totaling more than 100,000 square feet will have been built for “high-end business aviation users.”
The airport is about 8 miles northwest of Dallas’ Preston Hollow neighborhood.
Meanwhile, Sky Harbour announced that Will Whitesell has joined the company as chief operating officer, succeeding Alex Saltzman.
“As two years of increasingly intensive site acquisition efforts begin to bear fruit, Sky Harbour will face the challenge of dramatically scaling its manufacturing and development capacity, lowering total development cost, and maintaining a decisive qualitative edge in its physical offering,” CEO Tal Keinan said.
“Will’s track record in managing parallel large-scale development projects, his deep corporate leadership experience, and his aggressive mission-driven approach, position him powerfully to help lead this next phase of Sky Harbour’s growth. We are excited to welcome Will to the Sky Harbour team.”
Whitesell has worked in development, construction, and senior management at Turner Construction, Suffolk Construction, and The Related Companies.
