New infrastructure will ease traffic congestion and improve passenger experience at one the world’s busiest airports, and will be the largest facility of its kind
UPDATE: Financial close achieved November 2018. Read the news update.
Los Angeles World Airports (LAWA) has selected LA Gateway Partners (LAGP) to design, build, finance, operate, and maintain the Los Angeles International Airport (LAX) Consolidated Rent-A-Car Facility (ConRAC) development project.
The LAGP team includes:
- Developer: Fengate Capital Management Ltd.; PCL Investments USA, LLC; and MVI Finance, LLC
- Design-Build Contractor: PCL Construction Services Inc.
- Designer: PGAL, Inc. and AC Martin Partners
- O&M Provider: Johnson Controls, Inc.
The project is expected to reach financial close in December 2018. The contract cost will be announced publicly following financial close.
The project involves the development of a new facility that will consolidate the operations of rental car agencies at LAX, which are currently spread across 23 separate properties surrounding the airport. Expected to comprise almost six million square feet, the LAX ConRAC will be the largest ConRAC facility ever built and will be connected to LAX’s Central Terminal Area via an Automated People Mover (APM) train system. The project’s scope also includes a package of improvements to the roadways surrounding the project site.
The LAX ConRAC is being procured as a key component of LAWA’s US$12 billion Landside Access Modernization Program (LAMP); a comprehensive roster of capital improvement projects focused on a greatly enhanced LAX passenger experience, reduced traffic congestion, reduced carbon emissions and environmental impacts, increased operational efficiencies, and improved land use.
“We are honored to be selected as the preferred consortium to deliver this much-needed infrastructure for LAX, its passengers and all surrounding communities,” said George Theodoropoulos, Managing Partner, Fengate. “We look forward to a long, productive and solutions-driven partnership with Los Angeles World Airports and the City of Los Angeles to build, operate and maintain the ConRAC for this world-class airport.”
Read LAWA’s official announcement.