Newark Liberty International Airport

Key Figures

Description

Conrac Solutions, with equity partners Related Fund Management and Fengate Asset Management, provided design, construction, financing, operations and maintenance of a joint-use consolidated rent-a-car (ConRAC) center and public parking facility at Newark Liberty International Airport (EWR). EWR ConRAC, LLC, a special purpose vehicle formed by CS Capital, entered into a 40-year lease with the Port Authority of New York and New Jersey (PANYNJ) to deliver and operate the project.

CS Capital organized and executed the financing of the project. CS Project Delivery oversaw project development and managed design and construction, which were performed by Austin VRH Joint Venture under a fixed-price, date-certain design and construction contract. CS Operators manages the operations, maintenance and lifecycle of the project under a full-term operations and maintenance contract.

The entire six story facility along with the QTA maintenance/fueling area is powered by a solar array, which was installed by ENGIE on the upper-level rooftop in 2022. Additionally, there is intent to offer 65 electric vehicle (EV) chargers at the rental car center in the future and the public parking levels feature more than 150 EV chargers.

Newark Liberty International Airport’s ConRAC Facility is the first of its kind among the PANYNJ airports and is an integral component of the Terminal A Redevelopment Program, creating a world-class airport experience. This new facility offers numerous benefits to the Airport, RACs, their customers, and the traveling public.

Project Milestone Dates

• Project & CFC Implementation Approval – July 2018
• Design Development Docs Complete – Sep 2018
• Close on Financing – May 2019
• Construction Start – June 2019
• Partial Public Parking Opening Coincided with Terminal A Opening: January 12, 2023
• ConRAC Construction Substantial Completion – Spring 2023
• Facility Open to Public: November 2023