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.”