New York Gov. Andrew Cuomo announced Monday a US$4 billion overhaul plans to rebuild LaGuardia Airport by replacing its multiple aging terminals with a single "structurally unified main terminal."

"LaGuardia is slow. It's dated. It is a terrible front door entranceway," Cuomo said. "We are transforming LaGuardia into a globally-renowned, 21st century airport that is worthy of the city and state of New York."

Cuomo was joined for Monday's announcement by Vice President Joe Biden, who last year labeled LaGuardia as a "third-world" experience.

The complete facelift is expected to take 4-5 years, in a bid to make LaGuardia easier to get around, easier to get to.

The initial phase of construction is slated to begin in the first half of 2016. Cuomo said lengthy approval processes had been expedited by the vice president's office.

Terminal B will be torn down and rebuilt. All four terminals will then be united under one roof with transportation linking them.

The overhaul will include better public transportation connections to the airport. The new configuration will also leave more room for planes and ground crews to operate in. Congested ground traffic is one of LaGuardia's biggest bugaboos and a major reason for its delays.

Officials also unveiled plans to remodel the Trans World Airlines terminal at New York Kennedy into a 505-room hotel, including conference and meeting space and an observation deck. The US$265 million project is scheduled to open in 2016.

Here's an artist rendition of what LaGuardia would look like after its rebuilding.