New Jersey Devils New Home Unveiled - NHL

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MLN Newswire - www.mlntherawfeed.com -

MLN Newswire - www.mlntherawfeed.com - Newark, NJ, March 22, 2007 – Jeff Vanderbeek, President and Chairman of Devils Renaissance Development LLC, Newark Mayor Cory A. Booker, and an audience of over 700 invited guests and construction workers gathered today for the first-ever event held at what will soon be center ice in the state-of-the-art Prudential Center, currently under construction in downtown Newark.

A Topping Off ceremony is a tradition among the construction community which marks the moment when the highest structural point in a building’s construction has been attained. To that end, a 40-foot, 2,500-pound steel beam was hoisted 120 feet into the air and bolted into place to serve as support for the two end roof trusses.

“As we raise this beam today, we celebrate not only the outstanding efforts of the construction team, but also the realization of the vision of so many people in this community,” said Vanderbeek. “This is yet another milestone as we move toward opening the doors this fall.”

“The Prudential Center will be a driving force in our downtown core,” said Mayor Booker. “This ceremony is symbolic and signifies the bold opportunities in the city for our economic empowerment. Moreover, the Prudential Center will provide sporting, recreational and cultural activities that are key elements to Newark’s revitalization and strength.”

Prudential Center will be the future home of the three-time Stanley Cup Champion New Jersey Devils hockey team, a new Major Indoor Soccer League franchise, collegiate and other professional sports as well as family events, concerts, and more. It is also the cornerstone of a multi-million-dollar revitalization plan which includes the construction of Triangle Park connecting the Arena to Newark Penn Station and beyond, waterfront development along the Passaic River, as well as new cultural, retail and business opportunities.

Prudential Center will be the first major indoor professional sports and entertainment venue to be built in the metropolitan New Jersey/New York area in 25 years. The $375 million venue includes a $210 million investment by the city of Newark, with the remainder coming from the New Jersey Devils ownership group. Prudential Center will generate significant annual rent and revenue sharing for the city of Newark, America’s third oldest city and New Jersey’s largest.