by Donald Wood
Last updated: 12:25 AM ET, Tue October 23, 2018
The Los Angeles World Airport (LAWA) Board of Airport Commissioners has issued approval for the construction of a $2 billion consolidated rental car facility at LAX.
According to the Los Angeles Business Journal, the 28-year contract between L.A. Gateway Partners (LAGP) and LAWA is worth $2.03 billion and is part of the $5.5 billion Landside Access Modernization Program.
The project will call for the LAGP to design, build, finance, operate and maintain the facility that will house more than 20 car rental offices in one location. The contract also calls for the construction of a 2.25-mile automated people mover to eliminate congestion at LAX.
The contract still needs approval from the Los Angeles City Council.
"This marks more progress towards our vision of the future of LAX," LAWA CEO Deborah Flint said in a statement. "We are now in a position to deliver a world-class transportation experience worthy of an international gateway city."
The Consolidated Rent-A-Car Facility (ConRAC) will be 5.3-million-square-feet and built in an area bordered by Aviation Boulevard to the west, Arbor Vitae Street to the north, La Cienega Boulevard to the east and the new 98th Street extension to the south.
The rental car facility is expected to open to the public in 2023.
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