US$2 billion contract approved for rent-a-car facility P3 at LA airport
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Los Angeles World Airports (LAWA) Board of Airport Commissioners (BOAC) has approved a 28-year contract for L.A. Gateway Partners (LAGP) to design, build, finance, operate, and maintain a consolidated rent-a-car (ConRAC) facility at Los Angeles International Airport (LAX), located in southern California, USA. The approved not-to-exceed value of the contract is over US$2 billion.(1)
The ConRAC will consolidate more than 20 various rental car locations in and around the airport into one convenient facility, planned to span around 0.5 square kilometres. It will feature 6,600 ready/return parking stalls, 10,000 idle vehicle storage, 1,100 rental car employee parking spaces, and more than 2,500 parking spaces for badged LAWA employees.
LAGP is led by equity members Fengate Capital Management, PCL Investments USA and MVI Finance. The lead contractor is PCL Construction Services. The lead designers are PGAL, Inc. and AC Martin Partners. The lead O&M provider is Johnson Controls. The team had the lowest ultimate cost and second-highest technical score of the four teams that participated in the bid process.
Last month, BOAC approved an Early Works Agreement with LAGP not-to-exceed US$5 million, which allowed the developer to move forward with pre-construction activities such as soil testing, engineering, and design of the ConRAC, all of which are crucial to maintaining the project schedule. The facility is scheduled to open in 2023.
This week's approval marks the completion of the procurement process on the major components of LAWA's Landside Access Modernization Program (LAMP). The other components of the LAMP include a 3.6km elevated Automated People Mover (APM) system, an Intermodal Transportation Facility and associated roadway improvements.
LAWA approved a US$4.9 billion 30-year public-private partnership (P3) contract with LAX Integrated Express Solutions (LINXS) to design, build, finance, operate and maintain the APM in April this year. LINX, led by Balfour Beatty and Fluor, achieved financial close of the project in June.
The APM will connect the ConRAC facility to the airport terminals, as well as parking facilities and metro light rail stations. It is also scheduled to open in 2023.
(1) The exact not-to-exceed value is US$2,028,302,301.
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