Sky Harbour updates development budget for Dallas Addison Airport

Sky Harbour released an update to its development budget for Dallas Addison – ADS – Airport Phase 1, from an estimated range of $25M-$27M to an estimated range of $30M-$32M. 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. In Q1, the company intends to make cash contributions in the amount necessary to fund these estimated cost increases from unrestricted funds on hand at the corporate level into Sky Harbour Capital and the Obligated Group’s construction fund.