Former Gov. Jim McGreevey is questioning the $33 million renovation cost hike for Jersey City’s Loew’s Theatre, asking who will be footing the bill with the price rising from $72 million to $105 million.
By John Heinis/Hudson County View
“In 2021, Jersey City announced a partnership with Devils Arena Entertainment, operator of the Prudential Center, to renovate and operate the Loew’s Jersey Theatre, located in Journal Square and now owned by the Jersey City Redevelopment Agency (JCRA),” McGreevey said in a statement.
” … The renovation was originally estimated to cost $72 million, but the figure has since then drastically increased to over $105 million, an increase of over 45 percent. Renovation of Loew’s Jersey Theatre has not begun, despite the announcement three years ago. In addition to the theater’s renovation, Devils Arena Entertainment is also responsible for its operation once the renovation is completed.”
The New Jersey Economic Development Authority (NJ EDA) awarded for the renovations in October 2022, with the city acknowledging this past July that the costs had indeed gone up to $105 million, noting that the $72 million figure came prior to the COVID-19 pandemic.
Today, McGreevey, one of three declared candidates in the non-partisan November 4th, 2025 mayoral contest, posed several questions, which he said he has also submitted to the city via an Open Public Records Act (OPRA) request.
He asks how much DAE will pay and how much Jersey City taxpayers will pay into the project, why was DAE selected to do the renovation, and why have the renovation not started yet.
“Loew’s Jersey Theatre is a Jersey City landmark, both architecturally, historically, and culturally … In order to ensure that the renovation of Loew’s Jersey Theatre will benefit the
community in a fiscally responsible manner, it is imperative that the above questions be
answered,” McGreevey added.
“Jersey City’s community must be informed as to the renovation’s status, timeline, and cost.”
McGreevey said in a subsequent email to HCV that “I strongly support the renovation,” but it must be done in a “timely, responsible, and well-placed manner.”
This is the second time McGreevey has come out against a pending project that has been highly touted by Mayor Steven Fulop, who is running for governor in 2025 instead of seeking a fourth term, and his administration.
Last week, McGreevey outlined why he believes that “Jersey City cannot afford the prospect of the Pompidou satellite location.”
Does McGreevey realize that the increase in union construction costs from 2015 estimate until 2024 is about 50%?
Of course not because he knows Nothing about development except what his benefactor non union developer and Trump in law convicted felon Charlie Kushner tells him. I guess DAE hasn’t written him a big check
Thats not his issue at all, who is paying for the increase is the question.
YOUR ANOTHER DOPE WHO HAS TRUMP DERANGEMENT SYNDROME!!!!!!
It would be great to see this place remodeled and operational after all these years. I would question what happened to all the money that was donated to this place over the last 2 decades that was supposed to go towards the remodeling. I believe the organization was called “Friends of Jersey City Lowes”.
If he supports it, what’s his plan? If he just wants to say “no” to things, maybe he should run for city council.
I agree with McGreevey. My question is why did they select the DAE to do the renovations. This group owns the Prudential Center and the Devils. They’re private equity guys. Private Equity is bad news. Of course the cost went up. They’re not going to pay for the increase. The taxpayers are going to foot the bill. Fulop is to blame. He has all these grandiose ideas and he sticks the taxpayers with the bill. From what I see McGreevey is trying to be fiscally responsible. Fulop has not been. He’ll be a terrible Governor.
This project has been going on for years and years,what are they doing paving the theater in gold??a few events are held and that’s all! And most jersey city residents don’t know what’s going on in this rebuilding of the city’s great theater which could be used for better things for the city with its location.with the construction going up around it,I have a feeling the people of jersey city who have been backing this project are going to lose out to the money holders of the real estate market.