AMERICAN DREAM PLANS ARE ANNOUNCED
Triple Five, the developer of the American Dream project in the Meadowlands says it's moving forward on financing the $1.67 billion project and expected to open for business in March, 2019.
JP Morgan American Dream led the tax-exempt bond offering.
A number of tenants already have signed up to be part of the three-million-square-foot project. Triple Five also owns Mall of America in Minnesota and Edmondson Mall in Canada.
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DELAWARE RIVER CHANNEL DEEPENING GETS FINAL $29.25 MILLION
Officials have approved the final $29 million in spending to complete the Delaware River navigation channel deepening project. That money, combined with $33 million in funding carried over from 2016, is the final federal money needed to complete the channel deepening from 40 feet to 45 feet that began in March 2010.
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OFFICIALS BREAK GROUND ON TERMINAL A AT NEWARK AIRPORT
Ground has been broken on the Terminal A redevelopment project at Newark Liberty International Airport.
The $2.4 billion project will see a complete overhaul of the 44-year-old terminal, beginning with the building of three roadway bridges designed to reduce congestion and help connect the central road network to the new terminal.
The new terminal will include 33 gates, a parking garage complex and infrastructure improvements. It will be able to handle 13.6 million passengers each year, and have the flexibility for further expansion and to serve larger aircraft and greater passenger demand.
The terminal will be constructed through a design-build process, utilizing a private-sector partner for a single contract covering design and construction services.
The new Terminal A is anticipated to be fully operational in 2022.
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GOVERNOR COMMENDS ALLIANCE ON TRANSPORTATION
Key leaders of the region's key agencies speaking at the Alliance for Action's State Wide Transportation Conference outlined billions of dollars worth of upcoming capital construction. More than 300 business and government leaders we're on hand to hear capital details provided by State Transportation Commissioner Rick Hammer, Port Authority of NY & NJ Chief Engineer Jim Starace, NJ Transit Executive Director Steve Santoro and Interim Executive Director of the Gateway Corporation John Porcari.
New Jersey State Senator Steve Oroho, who sponsored the bill to refund the Transportation Trust Fund, explained why he felt it necessary to fight so hard for transportation improvement funding.
In his keynote address, Governor Chris Christie commended the leadership of the Alliance for its mission "as a force for good in New Jersey." The Governor declared about the Alliance: "You created your message and have carried it out for the economy and cultural values of our state."
Click here to view Governor Christie's remarks.
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UPCOMING EVENTS
6/16/17 - Bergen County Alliance for Action, click here to register.
6/23/17 - Investing in South Jersey, here to register.
7/17/17 - Monmouth County Alliance for Action, click here to register.
8/2/17 - Mercer County Alliance for Action, click here to register.
8/14/17 - Ocean County Alliance for Action, click here to register.
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WILLIAMS PARTNERS' NORTHEAST SUPPLY ENHANCEMENT PROJECT EXPECTED TO GENERATE $327M ECONOMIC IMPACT, SUPPORT MORE THAN 3,000 JOBS
Williams Partners L.P. has released the results of a comprehensive study authored by researchers at Rutgers University analyzing the economic impact of the proposed Northeast Supply Enhancement project - a nearly $1 billion energy infrastructure investment designed to increase natural gas deliveries to New York in time for the 2019/2020 winter heating season.
According to researchers at the Edward J. Bloustein School of Planning and Public Policy, the design and construction of the Northeast Supply Enhancement project will generate approximately $327 million in additional economic activity (GDP) in Pennsylvania, New Jersey and New York. In addition, the project will directly and indirectly generate 3,186 jobs during the one-year construction period, resulting in an estimated $234 million in labor income.
"This broad analysis conducted by Rutgers University researchers clearly shows the economic ripples that are created by such a significant investment in the region's energy infrastructure," said Phil Beachem, President of the NJ Alliance for Action. "Besides the clear environmental benefits of increased natural gas utilization, this project will offer an economic boost to the region by generating hundreds of millions of dollars in economic activity and supporting more than 3,000 good-paying jobs."
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TRAFFIC FLOWING ON NEW GOETHALS BRIDGE EASTBOUND SPAN
The new Goethals Bridge is open to traffic, marking the first opening of a major new bridge by the Port Authority since the Bayonne Bridge was completed in 1931.
Construction of the Goethals Bridge is the first true surface transportation public-private partnership in the Northeast. With the opening of the first span located next to the old bridge complete, officials expect the second span to open in 2018.
When finished, the bridge will include three 12-foot lanes on each of its twin spans. The second structure will also feature a 10-foot shared use path for bicyclists and pedestrians. The twin spans also preserve a corridor for future mass transit.
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CHRISTIE SAYS TUNNEL WON'T BE DELAYED BY LACK OF FUNDS IN TRUMP BUDGET
Governor Chris Christie professed "confidence" that the proposed Gateway Tunnel under the Hudson River will proceed without delays, even though President Donald Trump's most recent budget eliminated a crucial source of funding for it.
"I had a very good conversation last week with (U.S. Transportation) Secretary (Elaine) Chao," said Christie, speaking to reporters at the ground breaking of renovations at Newark's Liberty International Airport on Tuesday.
"I absolutely believe that we will be partnering with the federal government and the state of New York to build a Gateway Tunnel and that there won't be any delays of our current time frame."
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PEOPLE ON THE MOVE
- Liz Archer, Marketing Pursuit Manager for Dewberry, was recently selected as one of the Women Builder Council's (WBC) 2017 Outstanding Women. Per the WBC, her "commitment to increasing diversity and the role of women in the construction and professional services industries is inspiring".
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