There is movement on the new 2.7 million-square-foot consolidated rent-a-car facility (ConRAC) at Newark Airport, as $500 million in financing as been approved for the project.

The building, which will put all rent-a-car companies under one roof as part of Newark Liberty Airport’s Terminal One Redevelopment Program, will be constructed on a 16.65-acre site and feature 2,925 public parking spaces and 3,380 rental car spaces, according to airport-technology.com.

The project, which includes sustainability initiatives including a solar roof, electric vehicle charging stations and water reclamation systems, is expected to break ground this month. The parking area is to be completed in 2021, and the full facility is expected to be operational in 2023.