The New York & New Jersey Port Authority (PANYNJ) has approved plans for the construction of a consolidated rent-a-car facility (ConRAC) next to the new Terminal One at Newark Liberty International Airport.
Following the announcement, the Port Authority will now search for a private developer to build the facility, to offer passengers easy on-airport access to all rental car choices in one building. Construction of the proposed integrated facility is expected to begin next year and continue through the end of 2022, with the public parking elements completed by September 2021.
The Port Authority’s contribution to the project will be limited at US$130 million if the negotiations to build a Rent-A-Car are successful. In contrast, if a deal cannot not be reached with the proposed developer before December this year, the Port Authority would plan to build a separate garage at an investment of $170 million.