Newark mayor Booker/Tucker Development celebrate topping out of Marriott

Mayor Cory Booker and Tucker Development Corp., in partnership with Marriott International, the New Jersey Devils, Robert Finvarb Cos. and Brick City Development Corp., held a topping out ceremony to mark the completion of vertical construction for the Courtyard by Marriott at the Prudential Center, a mixed-use hotel and retail project that is a significant catalyst to the economic growth of the downtown Newark area by bringing added new investments, ratables and employment to the Brick City. Located just a few blocks from Newark Penn Station, the Courtyard by Marriott will be the first new hotel for the City's downtown in over four decades. The development will generate a total of between 50 and 75 permanent jobs through the hotel and retail operations. Marriott International will manage the hotel operation. Hiring for both components of the project will be facilitated by NewarkWORKS, Newark's one-stop employment center. "The topping out of the Courtyard by Marriott at the Prudential Center, Newark's first new downtown hotel in four decades, is literally a new high point in the redevelopment and growth of our City," Mayor Booker said. "Visitors have been flocking to the Prudential Center since it opened, and now they'll have a brand new place to stay the night right next door. People from all over the country will be able to have a complete, on-the-ground Newark experience that will keep them coming back again and again." "This project would not have been possible without the dedication and vision of Tucker Development, the State of New Jersey, the Municipal Council, local labor leaders, and my Economic Development team. This hotel not only allows us to show off our City's vitality, but it amplifies the energy and excitement. I'm excited to shop at the retail coming to the ground floor and to recommend that our guests spend the night right downtown. I'm proud that we have Newark residents like Local 825's Business Agent Lino Santiago, Labor Steward Paul Blanding, and Laborer Daniel Jimenez working on this project along with other Newark residents who can proudly say they have made a brick and mortar contribution to building a stronger, safer and prouder City." Tucker Development Corporation, a leading developer of shopping center and mixed-use properties throughout the Midwest and Mid-Atlantic regions, is developing the project, and will lease and manage the development's approximately 14,000 square feet of ground-floor retail. "It's extremely gratifying to see our vision for downtown Newark becoming a reality, and we are excited to mark this topping out milestone with the individuals who are working every day to see that this great city is delivered a world-class hotel and retail center," Tucker President and CEO Richard Tucker said. "The project is on track to create 175 construction jobs, many of which are being filled by Newark residents. Investing in the future of Newark has proven to be a wise decision, and we look forward to celebrating a ribbon-cutting later this year." Located at the northeast corner of Broad Street and Lafayette Street, the development is adjacent to the Prudential Center, home to the National Hockey League's New Jersey Devils and host to approximately 200 sporting, concert and family events every year. "The Rock" has been a major draw for downtown Newark since its opening in 2007, attracting as many as 18,000 spectators per night for sporting events and playing an important role in the city's revitalization. "For anyone looking for proof that Newark is on the rise, look no further than the new Courtyard by Marriott at the Prudential Center. The construction crew has topped out the building, but we are only starting to see the many benefits that Newark's first downtown hotel in 40 years will bring to this City," Deputy Mayor Zipkin said. "The Marriott means permanent jobs for our residents and construction jobs for local labor. More visitors will stay the night when coming for events at The Rock, adding vitality to our streets and pumping more dollars into the local economy. With our lofts coming online, new downtown towers in the works, and new hotels, downtown Newark is being transformed in front of our eyes." The hotel and retail project is within close proximity to Newark Penn Station, offering easy access to New Jersey Transit, NJ PATH, Newark Light Rail and Amtrak. The development's presence on the heavily traveled Broad Street presents a unique opportunity for retailers to take advantage of existing foot traffic, as well as offering an opportunity to become a new retail destination for Newark residents, visitors and patrons of the Prudential Center. "We look forward to having visiting teams as well as sports, family entertainment and concert fans staying at the Marriott," said Jeff Vanderbeek, Chairman and Managing Partner, Devils Arena Entertainment. "This is the latest in many exciting projects around Prudential Center. We are happy to be partners with Tucker Development and pleased to see Newark moving forward." The development is expected to be completed and open by late summer 2012. "Before starting here, I probably had about 70 days of employment in two years, so this project is extremely important to me," said Daniel Jimenez, a lifelong Newark resident who works on the project as a laborer. "It's always great to be able to say you built something in your hometown. This is a place that I'll pass by hundreds of times in a year. Everybody will see it on their way to the airport, or if they have to get on Route 22, and I get to say, 'Hey, I built that!'"