The Los Angeles International Airport entered into a $2 billion contract with a group of 11 companies to develop and operate a car rental facility there.
The agreement comes a month after the Los Angeles Board of Airport Commissioners gave LAX officials the go-ahead to negotiate a contract with the consortium, called L.A. Gateway Partners. The contract includes a 28-year operating agreement, according to the Los Angeles Business Journal.
The Consolidated Rent-a-Car facility would consolidate 20 or car rental operations spread around the area for a total of 5.3 million square feet. It would be located two miles east of LAX near Interstate 405.
The consortium expects to complete the project by 2023.
L.A. Gateway Partners is led by Denver’s PCL Construction Services Inc., which is the general contractor. Architecture firm A.C. Martin Partners is a local partner. The team beat out three other proposals for the contract.
The facility is part of a larger effort to improve access to the airport called the Landside Access Modernization Program. It includes a planned tram service called the People Mover, which will connect to the Consolidated Rent-a-Car facility and the Metro. The agreement is the last in a series of LAMP contracts awarded this year, which included one for the People Mover and related facilities.