State officials have unveiled plans for a $190 million overhaul of Newark Penn Station, drawing cheers from the developer that is transforming the landmark Gateway office complex nearby.
One of the state’s largest law firms has extended its nearly 120,000-square-foot lease at Newark’s Gateway complex, whose ownership is planning a sweeping upgrade and expansion.
As developers continue to invest in downtown Newark, the city is attracting both new residents and businesses. That makes it all the more important to create amenities and spaces that will bring permanent foot traffic during the day and at night, which has become a growing focus for both public- and private-sector leaders in the state’s largest city.
Amazon said it won’t reopen its search for a second headquarters after pulling out of New York City, but who’s to say that Newark and other shortlisted cities will just quietly step aside?
No one infrastructure project has the potential to cripple our economy, disrupt our lives, lower real estate values and drive employers to seek alternative locations than the Gateway Project to expand and repair the Hudson River rail tunnels and replace the Portal North Bridge. Why, then, haven’t our local, state and national leaders yet secured the funding, approvals and entitlements needed to get this project done, despite the wakeup call back in 2012 when Superstorm Sandy wreaked havoc on a single tunnel in an area responsible for 20 percent of the U.S. GDP?
Despite a new dose of funding from the state’s gas tax, New Jersey is still far from achieving the level of investment it needs to sustain its vital transportation infrastructure. That was one key message on Wednesday from a top advocate for infrastructure spending, who offered a mix of good news and bad news to a crowd of developers and service professionals.