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$1B car rental facility planned near Los Angeles airport

Los Angeles World Airports' staff received approval from the Los Angeles Board of Airport Commissioners to enter contract negotiations with a PCL Construction Services Inc.-led consortium for the development of a $1 billion consolidated car rental facility near Los Angeles International Airport, the Los Angeles Business Journal reported.

The staff will negotiate a 28-year contract with the L.A. Gateway Partners consortium of 11 companies for the design, construction, operation and maintenance of the facility. PCL will serve as the general contractor, while AC Martin Partners will be the local participant.

The Los Angeles City Council will grant final approval of the negotiated contract, following approval from the Board of Airport Commissioners. The consortium was selected from four bidding teams, according to the report.

Completion of the facility, located two miles east of the airport, is slated for 2023.