New York/New Jersey– The New York and New Jersey Port Authority Board of Commissioners announced that it approved a $170 million allocation to build a new, 3,000-vehicle rent-a-car facility and public parking complex at Newark Airport. This will consolidate the airport’s rent-a-car facilities into a single complex next to the airport’s soon-to-be-redesigned Terminal A. There are two versions of the consolidated rent-a-car facility (ConRAC) plan with a $40 million difference between them.
The first would involve a private developer to design, build, finance, operate and maintain a ConRAC at the airport. The Port Authority’s contribution to the project – which would include a public parking garage – would be capped at $130 million. If negotiations with developers are unsuccessful and a deal isn’t reached before December, the Port Authority will move ahead with Plan B- build its own stand-alone garage at a budgeted cost of $170 million. Construction of the proposed integrated facility – which also allows for installation of a solar roof structure and electrical vehicle charging stations – could start in mid-summer 2019 and continue through the end of 2022, with the public parking elements completed by September 2021.