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Revitalization Around The Rock


The Rock 07

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  • 2 weeks later...

The big leases are the ones on Edison, when those restaurants go in and John's go in there will be three new restaurants and the hotel on Edison in development. If those continue to be strong you will see Market do better. There just is no reason to go to Market st while Edison st still has vacancies.

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The Panasonic story reminds me, are they ever going to clean up the waterfront? Wasn't that supposed to be some sort of shopping and dining mecca on either side of the river?

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The waterfront is slowly progressing and you will see more progress over this spring summer as Essex County get involved. The bulkheads are installed all the way to the Jackson st bridge they just have to add access to these areas to make them used and most importantly make it maintainable.

Any progress is good progress, I suppose. Thanks for the update.

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Well the whole thing comes down to private public investment and some of this ties to the issues the Devils are having with their ownership right now. You need to have people willing to put capital into these projects that are inherently risky (ie building new hotels and restaurants surrounding the arena). Right now there are too many people landbanking (ie Edison and Pepe Lopez)and not enough people developing (ie Hanini, Ray Levy and the BCBG people).

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Saw this one get posted as well in regards to the airport hotel, surprising considering they just renovated within the past 3 years....

http://www.northjersey.com/news/020411_Port_Authority_expected_to_announce_renovations_plans_for_Newark_airport_Marriott_today.html

They should spend the money on a beautiful flagship Marriott downtown. It would contribute so much to the city and would create a better event vibe downtown.

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They should spend the money on a beautiful flagship Marriott downtown. It would contribute so much to the city and would create a better event vibe downtown.

Different owners of the franchise, I have a colleague that works there and they are looking to see some renovation but nothing of that magnitude (although you could argue that their is existing transportation nodes that would benefit).

Here is a link that I posted in the dispute section of ownership but it really involves the overall development around the arena

http://www.nytimes.com/2011/02/03/sports/hockey/03nhl.html?_r=1

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