The Port Authority has announced plans to build a hotel at the iconic TWA terminal at Kennedy Airport. 

The building was built at the dawning of the jet age in 1962, but has been closed since 2001 when Trans World went bankrupt. 

Port Authority has approved a 75-year lease with a developer to transform the terminal into a 500 room hotel with shops, conference space and a spa.

The hotel could open up in three years.