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Commissioners for the Delaware River and Bay Authority (DRBA) approved funding for the construction of the multi-tenant light industrial building, the DRBA said in a news release on Wednesday, Feb. 28. The 15,000-square-foot building is estimated to cost $5.5 million.
The 10-unit building will join two others fully leased and occupied on Ranger Road.
"During the past ten years, the Cape May Airport has been a hub for economic expansion," said DRBA executive director Thomas Cook. "Working hand-in-hand with our Cape May County partners, we’re focused on creating an environment conducive for businesses of all types to be successful. We continue to see strong demand from the business community for space at the airport. Our teamwork approach is producing results."
The third building's approval came about a month after an agreement was reached to build a large indoor sports complex at the airport in Lower Township. Cape May County also received federal approval for a second technology building in January 2024.
More than two dozen businesses are located at the airport, including Cape May Brewery. The airport is also home to the Naval Air Station Wildwood Museum, the Flight Deck Diner, and several shops.
Construction for the third multi-tenant building is expected to begin in March 2024 and be completed in late spring 2025.
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