An artist's rendering of Google's private terminal at Mineta San Jose International Airport Source: Signature SJC

It's not uncommon for Silicon Valley tech executives to use private jets, but Google's top brass are climbing to a whole new altitude. Google founders Larry Page, Sergey Brin and Eric Schmidt have won approval to build a private terminal at Mineta San Jose International Airport, and CNBC has learned that construction on the $82 million facility will start in February. It is expected to be completed by the end of 2015. Signature Flight Support, a Florida-based company that manages corporate aircraft, will develop and operate the 29-acre terminal in partnership with Blue City Holdings, which handles the personal aircraft of Google's principals.

Signature, which operates in 115 airports, said Google's terminal is its biggest project so far. The jet center will have a 270,000-square-foot hangar—a major amount of space for a private entity within a commercial airport.

The deal, for a 50-year lease, is between Blue City, Signature and the airport. The airport and the city of San Jose are expected to garner close to $3 million in fees and taxes annually, which over the lease term could generate more than $150 million. (Read more: Has Google unseated Apple as the king of innovation?) Not everyone is happy about the terminal, though.

Atlantic Aviation, which failed in its bid for the development, filed a legal action against San Jose in May. It alleges that the city did not comply with California environmental rules in approving the Blue City-Signature facility.