The Chicago Transit Authority recently awarded a new, four-year property maintenance contract with a cap of $23.5 million as part of the Red Line Extension project.
The Chicago Transit Board selected East Lake Management Group, Inc. as the winner of the property management contract after receiving several bids, a release said.
The vendor has committed to a 60% DBE participation goal, which translates to more than $14 million of the total contract value being made available to disadvantaged business enterprises, exceeding the initial DBE goal for the contract of 30%.
“We have always talked about how the Red Line Extension is more than just a transit project, but truly an investment that will provide much needed economic opportunities for the community,” said CTA President Dorval R. Carter, Jr. “This is just the start and CTA will continue to seek out and promote additional contracting opportunities to disadvantaged local businesses throughout the life of this project—all as part of our vision and commitment to provide jobs and equitable opportunities under this historic investment.”
Several parcels for the extension project will need to be purchased in order to prepare for the award of a design-build contract in the future. The CTA will own the parcels before the design builder takes over, at which point the contracted property manager will secure and maintain the properties. The outside services from the property manager are necessary due to the effort and timeline obligations required to protect the properties, a release said.
The Red Line will be extended from the current southern terminal at 95th Street to 130th Street as part of the $3.6 billion RLE project. Four new rail stations as well as a modernized railcar maintenance and storage facility will be built as part of the project.