Newark Downtown Core Redevelopment Corporation

Welcome

The Newark Downtown Core Redevelopment Corporation oversees the renaissance of the downtown Newark area surrounding its new state-of-the-art Prudential Center sports and entertainment complex - one of the most dynamic areas in the entire state of New Jersey. NDCRC has enjoyed enormous success in managing and developing the critical infrastructure projects necessary to set the table for the Prudential Center anchored future redevelopment of the 24 acre Downtown Core. At the heart of each public infrastructure project is the combination of land and capital. After each project is completed, the result is both a public space and an adjacent site prepared for development. Upon the completion of public infrastructure projects, and the return of market demand, the plan for robust property development will accelerate.

Successes

The Roads Around the Rock ($55m Circulation Transportation Project)
The NJ Devils Championship Plaza ($12m outdoor retail), Edison Place Improvements
Closed the $500m IRC 1031 Exchange (Land Swap I) that enabled the NJ Devils to obtain the private financing necessary to complete the construction of the Prudential Center.
Conducted the annual financial analysis of the NJ Devils 30-year lease with Newark Housing Authority.
Negotiated the purchase of properties necessary to obtain site control for right of ways, tenant relocation, environmental remediation, in-core property demolition, and construction of the Prudential Center, the NJ Devils Championship plaza and the future Triangle Park.

Our expertise in working through a myriad of challenges to complete $74m in public infrastructure improvements is a testament to our Board of Trustees, our outstanding staff and the extraordinary team of contractors, engineers, attorneys, surveyors, architects and construction managers. We also generated the support of important corporate and government stakeholders including PSEG, Verizon, the City of Newark, the Newark Housing Authority, the Newark Alliance, Edison Properties, Lopez Development, the NJ Devils and the Prudential Corporation. Each stakeholder has provided capital, political and moral support for our efforts. Most of all we appreciate the support of the millions of Prudential Center patrons and the residents of the City of Newark.