An Economic Evaluation of the Thunder Bay Air Terminal Development Strategiesby John P. Braaksma, Carleton Univ, Ottawa, Canada,
Andrew Schmidt, Carleton Univ, Ottawa, Canada,
Peter Friedrichs, Carleton Univ, Ottawa, Canada,
Abstract: The Air Terminal Building (ATB) at the airport in Thunder Bay, Ontario, Canada is currently being utilized at approximately 140% of its design capacity. In response, three alternative development strategies were generated. Strategy 1 included retrofitting and expanding the existing ATB. In Strategy 2 the ATB was replaced with a new building that overlapped the footprint of the existing ATB. Strategy 3 was similar to Strategy 2, but the new ATB was situated in front of the existing ATB. In Strategies 2 and 3, unused portions of the old ATB were demolished. A 'base case' development strategy was also established from which comparisons were made regarding the economic feasibility of the strategies. The net present value (NPV) criterion was used as the primary measure of merit.
Subject Headings: Economic factors | Bays | Building design | Risk management | Airport terminals | Project management | Rehabilitation | Existing buildings | North America | Canada | Ontario
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