Developers building apartment towers in Journal Square are betting that the millennia will move to Jersey City as an alternative to Manhattan or Brooklyn.
Now they have a new playground beyond the cheaper rent and comfortable equipment.
The historic Loew Theater will undergo a major renovation to attract important entertainers, officials said on Monday. Jersey City and Devils Arena Entertainment, the operator of the Prudential Center, have reached a $ 72 million deal to turn the century-old theater into a 3,300-seat venue.
When the theater opened in the first half of the 20th century, it was described as “the richest temple of entertainment in New Jersey.” The place of baroque / rococo style attracted such artists as Duke Ellington and Bing Crosby.
However, the theater began to disintegrate and closed in 1986. The place was hung for demolition, but was eventually saved by community activists. The city bought the site in 1993 for $ 325,000, according to the New York Times.
The non-profit group Friends of the Loew’s eventually ran the venue and hosted the show. In 2013, the city tried to bring in a new operator, which resulted in litigation between the city and the Friends group.
Last summer, the city announced that it was looking again new commercial project operator.
Under new plans, the city and Devils Arena Entertainment are upgrading theater technology and providing visual and acoustic upgrades. They will also make major infrastructure improvements, preserving the historic stage lighting control panel, pop-up microphone, and orchestra and organ lifts, and adjusting the intersection and exit at the back and front of the building.
“This unique partnership means our long-term planning for a post-pandemic future, where we can be sure that art and culture will be the foundation of life,” said Jersey City Mayor Steven Fulop in a statement.
Construction is expected to begin in 2022. The site is expected to open in 2025.
Journal Square is perhaps best known for being the headquarters of the Trans-Hudson Port Authority, better known as PATH. The neighborhood, located near the intersection of Kennedy Boulevard and Bergen Avenue, also served as home to the Jersey Journal.
The Kushner companies, led by its founder Charles Kushner, plan to build two large, 64-storey mixed-use towers and Journal Square. Nearby, based in New York HAP investment will build a 42-story apartment building nearby at 500 Summit Avenue.