ConRAC Facility at Newark Liberty International Airport
The project won Proximo's 2019 North America PPP Deal of the Year and Project Finance International's 2019 P3 Deal of the Year for the Americas.
Designs for the new multi-level garage complex consist of an integrated Consolidated Rent-A-Car (ConRAC) facility with three main structures. The structures will have six levels of combined public parking and rental car operations that can accommodate multiple rental car brands, new entrants and support projected growth.
Construction of the integrated facility, a component of the Port Authority of New York and New Jersey's US$2.7 billion Terminal One Redevelopment Project, is currently expected to start mid-summer 2019 and continue through the end of 2022, with the public parking elements completed by September 2021.
Further information on the new terminal parking facility can be found on the Port Authority's Terminal One project page.
Torys acted as counsel with a team led by Tara Mackay, Huw Evans and Josh Van Deurzen.
Torys also acted on the following in connection with this project:
| Jurisdiction | Newark |
| Province/State | New Jersey |
| Country | United States |
| Nature of Engagement | Public-Private Partnerships, Procurement, Project Finance |
| Government Level | State |
| Procurement Model | DBFOM - Design Build Finance Operate Maintain |
| Client | Fengate Capital |
| Client Role | Equity Provider |
| Value | $550,000,000 USD |