February 14, 2005

Newark, Devils Sign Agreement on Arena Development

With a few strokes of a pen, the city of Newark and the New Jersey Devils signed off an agreement February 2 that commits New Jersey's premier hockey team to build an 18,000'seat arena and entertainment complex in the heart of the state's largest city.

Mayor Sharpe James, the Newark Municipal Council President Donald Bradley, Oversight Committee Vice Chair Stanley Weeks, Devils owner Jeff Van der Beek, and Newark Housing Authority Director Harold Lucas signed the historic agreement in the city hall rotunda at 1 p.m.

"The agreement with the New Jersey Devils will codify our plans to create a world-class arena and entertainment complex in the heart of Newark, which will become the engine that fuels our economic growth, bringing tourism and luster to our downtown, and jobs, opportunities, and development to every neighborhood in the city," James said.

Construction of the arena is expected to commence in September 2005 and is expected to be complete prior to the start of the National Hockey League season's beginning in October 2007.

In addition to the arena, as part of the Downtown Core Redevelopment Project, the Devils will also oversee the development and construction of a 300-room hotel, a 100,000 square-foot office building, a community and cultural center and a 1,000'space parking garage facility.

"Today will go down in history as one of the greatest days in the history of Newark," James added. "Our contract is a win-win for Newark and the New Jersey Devils. The real winners will be the citizens of Newark and especially our youth for decades to come."