$1.5-billion

And Tucker, which has made a name for itself with MXDs and retail properties, has mixed uses in mind for the site at 422 Broad St. once the sale clears. Part of that plan includes a new class A office building with large floorplates, the first to be built here in more than 15 years. Also part of the plan for the 400,000-sf, 28-story mixed-use are a 200-room hotel and 50,000 sf of retail, including a health spa, on the first two floors. The estimated price tag for all of this is $150 million.

The project will also be eligible for benefits under the state's new Urban Transit Hub Tax Credit Program, enacted in January. For a minimum of 250 employees, eligible companies can realize upwards of $75 million in tax incentives over a 10-year period.

"Corporations relocating to this new generation transit-oriented development can earn tens of millions of dollars in urban tax credits," confirms TDC president and CEO Richard Tucker. "The end result is that a large corporation relocating jobs to our Newark development could virtually operate rent-free for 10 years.