Mayor Fulop Announces Major Partnership with Entertainment Giant; $72M Restoration Plan will take Historic Loew’s Theatre to the Next Level
Devils Arena Entertainment, Operator of World-Renown Prudential Center and Home of New Jersey Devils, Selected to Restore and Maximize Music, Performance and Live Event Bookings at Iconic, 3,300-Seat Theatre
JERSEY CITY - Mayor Steven M. Fulop announced today a new partnership with Devils Arena Entertainment (DAE), the largest purveyor of entertainment in New Jersey and operator of Prudential Center, one of North America’s top 10 most booked arenas, to move forward on a unique $72 million agreement for the transformative restoration of the historic Loew’s Theatre. The revitalization intends to transform the century-old theatre into a state-of-the-art 3,300-seat venue to attract both superstar and up-and-coming performing artists, serve as an engine of economic development and hub for the local Journal Square community, and expand Jersey City’s growing reputation as an unparalleled arts destination in New Jersey.
“The Loew’s restoration is decades in the making, and so I am encouraged and excited to partner with Devils Arena Entertainment, a reputable entertainment company and operator of the globally successful Prudential Center, as we take this monumental step forward in our commitment to restoring Loew’s Theatre to its former glory, reviving Journal Square, and growing our arts community,” said Mayor Fulop. “This one-of-a-kind partnership signifies our long-term planning for a post-pandemic future where we’re confident arts and culture will be a staple of life.”
The majestic Loew’s Jersey will be an integral part of the revival and rehabilitation of the Journal Square area - Jersey City's historic city center and one of the busiest transportation hubs in the region. Once called “The Most Lavish Temple of Entertainment In New Jersey” when it opened in Jersey City more than 90 years ago, the Loew’s Theatre has remained underutilized for decades following various roadblocks until the Fulop Administration stepped in and worked with local residents and community group Friends of the Loew’s (FOL) with a united goal of reviving the local gem and uncovering its untapped potential.
Construction is expected to begin in 2022 with an anticipated opening in 2025. Part of the agreement ensures priority to hire local, MWBE firms to help revitalize the regional economy and get people back to work.
“The Loew’s Jersey Theatre is an iconic community treasure that has played a long, distinguished role as Jersey City’s premier arts and entertainment venue. The opportunity to partner with Mayor Fulop, the Friends
of the Loew’s, and the local Journal Square community to revitalize this historic venue is a privilege for us,” said Hugh Weber, President of Devils Arena Entertainment. “As the operator of the nearby Prudential Center, one of the top entertainment destinations in the United States, we know the importance that live performances playing galvanizing communities and stimulating economic activity. We envision Loew’s Jersey Theatre as a catalyst to help the citizens of Northern Jersey get back, literally, on their feet to celebrate world-class arts and music.”
“We look forward to actively working with JCRA to create the detailed redevelopment agreement that will harness DAE’s expertise in commercial show management and marketing while also implementing all that last summer’s RFP guaranteed to FOL,” said Colin Egan, Founder of Friends of the Loew's. “That agreement will continue FOL's role as the non-profit arm of the Loew's, so we'll go on with our volunteer activities that bring direct community participation in the life and preservation of this landmark, maintain and grow our support for local arts and other non-profit groups, and provide affordable programming. Perhaps most importantly of all, we'll continue to ensure as many people as possible have the opportunity to enjoy and benefit from the Loew’s.”
The rehabilitation and operation agreement ensures DAE, a proven owner and operator of industry-leading venues, will work closely with Jersey City and Friends of the Loew's to return the iconic theatre into the world-class centerpiece of arts and entertainment it once was. The $72 million deal looks to optimize venue performance for the artists and audiences, including:
In recent years, stars like Patti Labelle, Kurt Vile and Courtney Barnett, Yo La Tengo, Sufjan Stevens, Neutral Milk Hotel, The Decemberists, The Duprees, and Beck have graced the Loew's stage. Authors George R. Martin and Stephen King, as well stars Nick Offerman, Anna Faris, and Bryan Cranston have all sat down to discuss their new books.
More recently, the Theatre has become a filming location for movies, television shows, and music videos. In 2018, the Loew’s was used for scenes in the film The Joker, starring Joaquin Phoenix in an Academy Award- winning performance.
About Devils Arena Entertainment and Prudential Center
Devils Arena Entertainment is an affiliate company of the National Hockey League's New Jersey Devils, responsible for the leasing, operating, and maintaining of Prudential Center. Prudential Center is the world- class sports and entertainment venue located in downtown Newark, New Jersey. Opened in October 2007, the state-of-the-art arena is the home of the National Hockey League’s (NHL) three-time Stanley Cup Champion Devils, Seton Hall University’s NCAA Division I Men’s Basketball program, and more than 175 concerts, family shows and special events each year. The arena is also home to the GRAMMY Museum Experience Prudential Center, which opened its doors to the public on October 2017. The 8,200-square-foot experience marks the first GRAMMY Museum outpost on the East Coast and features a dynamic combination of educational programming and interactive permanent and traveling exhibits, including a spotlight on legendary GRAMMY winners from New Jersey. Ranked in the Top 8 nationally by Pollstar, Billboard and Venues Today, Prudential Center is recognized as one of the premier venues in the United States, and over 2 million guests annually. For more information about Prudential Center, visit PruCenter.com and follow the arena on Facebook, Twitter and Instagram @PruCenter.
The Prudential Center trademark and logos are used under license from The Prudential Insurance Company of America, a subsidiary of Prudential Financial, Inc., headquartered in the USA, neither of which is affiliated with Prudential plc, a company headquartered in the United Kingdom.