AMTRAK GATEWAY PROJECT WOULD MEAN 4-TO-1 ECONOMIC PAYBACK
A new Amtrak report says the $25 billion Gateway rail project between New Jersey and New York, would generate $4 for every one spent, according to a summary released by Amtrak.
Elected leaders are calling on President Trump to prioritize Gateway as he pushes for $1 trillion in public and private infrastructure spending.
Gateway would double service for New Jersey Transit and Amtrak customers to Manhattan, spur job growth and fortify a system that sustained widespread damage from Hurricane Sandy in October 2012, the report said. The new tunnel is scheduled to open in 2025, with the entire project complete in 2030.
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THREE SOUTH JERSEY FIRMS TO BUILD OFFICE TOWER IN CAMDEN
Three South Jersey companies seeking to move to Camden have received approval from the state Economic Development Authority for tax incentives worth $245 million.
Conner Strong & Buckelew, based in Marlton, along with the Michaels Organization and NFI, plan to build a $245 million, 18-story office tower on the waterfront as part of a development project already underway. According to the proposal, the completed building would be the tallest structure on the waterfront.
The proposal includes a piazza that would overlook the Delaware River with views of the Philadelphia skyline. It would move almost 900 existing jobs into Camden and could be ready for occupancy by August 2019.
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UPCOMING EVENTS
4/7/17 - Burlington County Alliance for Action, click here to register.
4/26/17 - Higher Education Construction Conference, click here to register.
5/8/17 - Golf Classic - ONLY A FEW FOURSOMES LEFT, click here to register.
5/16/17 - NJ Statewide Transportation Conference, click here to register.
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PEOPLE ON THE MOVE
- David Robbins was promoted to President of South Jersey Gas.
- Seton Hall University announced Mary Meehan has been appointed interim President of the college.
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SUPPORT NEEDED FOR JCP&L PROJECT
JCP&L's plan to build a new 10 mile transmission line needs your help. Once constructed, the Monmouth County Reliability Project, a 230-kilovolt transmission line along an existing rail line will provide a stronger and more modern electrical system for more than 200,000 customers in 40 municipalities. A public hearing on the proposal will be held next week. Please write letters of support to
Honorable Gail Cookson
Administrative Law Judge
MCRP
P.O. Box 605
Trenton, NJ 08604-9802
Supporters can also sign an on-line petition at http://monmouthreliability.com/support/. The current electric system violates federal reliability criteria and the regional grid operator says electrical system fails to meet minimum requirements.
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SPECTRA ENERGY PARTNERS TO PURCHASE PSEG EQUITY POSITION IN PENNEAST PIPELINE PROJECT
PennEast Pipeline Company LLC announced that Spectra Energy Partners, LP, has entered into a purchase and sale agreement to acquire from PSEG Power LLC, a subsidiary of Public Service Enterprise Group Inc., its 10 percent minority equity position in the PennEast interstate natural gas pipeline project (PennEast).
Bill Levis, president of PSEG Power, emphasized PSEG will remain a PennEast customer for its committed capacity.
PennEast received a positive Draft Environmental Impact Statement from the Federal Energy Regulatory Commission and is on track to receive the Final Environmental Impact Statement in April. These are key milestones as the Project continues to advance toward providing a more secure energy future for the region when it goes into service in the second half of 2018.
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FORMER ATLANTIC CLUB TO BE CONVERTED TO INDOOR WATER PARK
R&R Development Group has entered into an agreement to purchase the shuttered Atlantic Club casino in Atlantic City and convert the property into a large-scale indoor water park.
Plans for the site, which will be named Dolphin Village at Atlantic Club, include a 100,000-square-foot indoor water park, hotel rooms, restaurants and an arcade space.
The developer will put more than $135 million into the building and while construction on the water park could take one to two years, over 300 rooms could become available by this fall.
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