NEWARK—Newark Mayor Cory A. Booker, Tucker Development Corporation president Richard Tucker and other industry leaders and dignitaries attended a topping out ceremony for the new Courtyard by Marriott at the Prudential Center Hotel yesterday. This 150-room, full-service hotel is located at the NE Corner of Broad and Lafayette Streets adjacent to the Prudential Center, home to the National Hockey League’s New Jersey Devils and a short walk to Penn Station.
Developed by Tucker Development Corporation, the Courtyard by Marriott at the Prudential Center in Newark is a mixed-use hotel and retail development that will be the first new hotel in the City’s downtown in over 40 years. Marriott International will manage the hotel, and approximately 14,000 sq. ft. of ground floor retail space will be leased and managed by Tucker
BCDC provided a $500,000 loan and helped to facilitate other state financing, including $6 million in Redevelopment Zone Bonds and a $3 million Economic Recovery Grant. BCDC also assisted the development team with expediting approvals (site plan approval and building permits).