Chicago Mayor Rahm Emanuel recently announced the start of construction on an $800-million consolidated rental car facility at Chicago O’Hare International Airport.

“This intermodal facility is one of the largest capital improvements constructed at O’Hare, and will further Chicago’s ongoing efforts to make O’Hare the most convenient international travel hub in the world,” said Emanuel.

Combined with airport bond revenues, a Transportation Infrastructure Finance Innovation Act (TIFIA) loan of $288 million from the U.S. Department of Transportation will provide the necessary funds to consolidate rental car functions and public parking into a multi-level structure, according to a City of Chicago press release. This project will also reduce traffic congestion and increase transit ease for travelers through an extension of the Airport Transit System (ATS) at O’Hare.

In addition, the new rental facility will lead to the creation of nearly 3,000 design and construction jobs during construction and 100 concession and rental car positions upon completion.

“O’Hare plays a critical role as a transportation hub for the Chicago region, and we are pleased to see the TIFIA loan close so that construction can begin,” said Secretary of Transportation Anthony Foxx. “The new intermodal facility means thousands of new jobs and improved mobility around the airport, allowing travelers to get where they need to go safely and more efficiently.”

Scheduled to be completed in 2016, the facility will provide nearly 4,100 rental car company parking spaces, a customer lobby and approximately 2,000 public parking spaces, according to the City of Chicago. Each of the rental car companies will have customer service counters, self-service kiosks and back office areas within the facility.