A P3 deal reached last week will reopen the historic Angels Flight funicular in downtown Los Angeles.
ACS Infrastructure Development will upgrade the 116-year-old railway to meet safety standards before operating and maintaining it for a period of 30 years. The city said the railway, which has been closed since 2013, will reopen to the public by Labor Day.
ACS, a Florida-based subsidiary of Spanish developer ACS Group, reached the deal with the city and the Angels Flight Railway Foundation, which owns the funicular. The company will make a “significant” upfront investment in exchange for the railway’s revenues, according to the foundation, though the price tag of the group’s investment was not released.
Angels Flight, which runs between Hill and Olive Streets on the city’s Bunker Hill, is the world’s shortest railway, at just 91 metres. It was shut down following a derailment in 2013, but this January California’s Public Utilities Commission approved a safety plan to get the railway running again.
ACS will work with contractor Dragados USA and Sener Engineering on the project.
Angels Flight first opened in 1901 and ran at its original location until 1969, when it was dismantled. In 1996, Angels Flight was reconstructed two blocks from its previous location. The railway was recently featured in the film “La La Land”.