Airport to Sell 22-Acre Lot to Boston Developer
The owners of Burbank Airport voted Monday to sell a chunk of surplus land, raising almost $17 million as revenues sink in the wake of the Sept. 11 terrorist attacks.
The sale will not affect plans for a new terminal, which could still be built on an adjacent parcel, said airport spokesman Victor Gill. But negotiations over the terminal--long a controversial prospect in Burbank--have been shelved due to uncertain passenger demand and security costs.
Meanwhile, half-empty planes and parking lots are taking a toll. “We’re estimating, just for the month of September alone, a shortfall of $750,000 to $1 million,” Gill said.
The Burbank-Glendale-Pasadena Airport Authority agreed to sell the surplus 22-acre plot to a Boston-based developer who plans to erect three buildings there for light industrial uses.
The airport was forced to put the property on the market, along with a larger parcel, after an earlier terminal deal fell through last year.
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