NEWARK-The first new hotel to be built in Downtown Newark in nearly 40 years broke ground yesterday at the northeast corner of Broad and Lafayette Streets, adjacent to the Prudential Center. The 150-key Courtyard by Marriott at the Prudential Center will include 14,000-square-foot of retail space, according to Tucker Development Corp., a developer of shopping center and mixed-use spaces throughout the Midwest and Mid-Atlantic. The development is expected to be completed and open by summer 2012.
“Today is a significant achievement for the City of Newark,” Tucker president and CEO Richard Tucker said at the event. “Investing in downtown Newark provides a tremendous opportunity for developers to contribute to the vitality of this great city, and we expect strong interest from retailers.”
The groundbreaking was hosted by Mayor Cory A. Booker and Tucker, in partnership with Marriott International, the New Jersey Devils, Robert Finvarb Cos. and Brick City Development Corp. The development is expected to generate approximately 175 temporary construction jobs and a total of between 50 and 75 permanent jobs through the hotel and retail operations. Marriott International will manage the hotel operation.
“This is a truly groundbreaking development for our City,” Newark Deputy Mayor for Economic and Housing Development Stefan Pryor said. “As our first new downtown hotel in nearly 40 years, this project continues Newark’s transformation into a 24/7 city.” He added that the project is expected to encourage more development Downtown.
The project will be connected to the Prudential Center and is near Newark Penn Station, offering access to New Jersey Transit, NJ PATH, Newark Light Rail and Amtrak.
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