JFK Airport’s Trans World Airlines (TWA) terminal, which has been lying empty for the past 14 years, is set to be converted into a hotel.

New York governor Andrew Cuomo revealed the city’s plan to convert the iconic building into TWA Flight Center Hotel. The project is expected to commence next year with a total cost of $265m and is likely to open in 2018.

It will feature 505 rooms with a 10,000ft² observation deck, 40,000ft² of event space and six to eight restaurants, reported Curbed NYC.

"Originally built in 1962, the terminal was reportedly unable to handle modern airplanes, which led to its closure."

The project is also expected to include a museum that will showcase the history of TWA, the Jet Age, and mid-century modern design movement.

MCR Development CEO Tyler Morse said: "The TWA Flight Center Hotel will celebrate and preserve Eero Saarinen’s masterpiece, returning the landmark to its original glory and reopening it to the public."

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Located behind the terminal, the hotel will not occupy the entire property and is expected to defer to the landmark.

The redevelopment work will be undertaken by a public-private partnership between MCR Development, JetBlue, and the Port Authority of New York and New Jersey. It will be privately funded.

Originally built in 1962, the terminal was reportedly unable to handle modern airplanes, which led to its closure.