Newark's Triangle Park Slated For 2018: Downtown Arena Area, Ironbound

Newark, NJ – Newark city officials announced last week that agreements have been reached between Edison Properties, the City of Newark and the Prudential Center Arena to develop more than 22 acres of vacant land around the arena.

According to a city news release, the new project – “Triangle Park” - will include public open spaces and commercial and residential units. Also included in the project will be a half-mile-long footbridge providing access between Newark’s Peter Francisco Park in the Ironbound section of the city, Newark's Penn Station and the Prudential Center Arena.

The project will create a 2.5-acre park on an area that is currently used as a parking lot. The public park area will be formed by the blocks of Mulberry Street, Lafayette Street, McCarter Highway and Edison Place.

The anticipated completion date is July of 2018, city officials stated.

According to the release, the City of Newark will oversee the project, while the Newark Community Economic Development Corporation will manage the design and development of the park's public, open-space and footbridge. Edison Properties and J&L Parking Corporation will oversee development of the commercial and residential units.

According to city officials, Edison Properties owns much of the land, and a redevelopment agreement was negotiated that includes the construction of commercial and residential spaces. Edison, as well as other partners including the Prudential Center, the New Jersey Devils and J&L Parking Corporation, have contributed funds and will also be involved in guiding development of the Triangle Park Project.

The Newark City Council unanimously passed legislation paving the way for development in February of 2015, the release stated.

According to the release, Triangle Park will make use of vacant land and directly connect two neighborhoods which are currently divided by a state highway and active commuter train tracks.

“We are thrilled to get this project off the ground,” EHD Director and Deputy Mayor Baye Adofo-Wilson said. “Newark residents deserve more than surface parking lots in the heart of their downtown. The Triangle Park development project delivers on a decade old promise to spur development near the arena and bring people back to Newark's streets. We believe that the footbridge will encourage residents and visitors alike to travel between the downtown arena area and our Ironbound community."

"This development plan is more than bricks and mortar – it is the creation of construction jobs now and commercial spaces and their jobs later, along with residential units, which enhance our tax base, economic strength, and desirability as a place in which to live, work and play,” Baraka stated.

“The parkland being created will provide residents, workers, and visitors alike with an attractive green space amid this development,” Baraka said. “It will also provide the city, through these tax revenues, with the funding it needs to provide better municipal services and greater levels of commitment to all the residents in all of our neighborhoods and communities.”

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Photo courtesy of the City of Newark