March
2002
Trenton:
Making a Capital Comeback
By
Leah Yasenchak and Renee P. Killian
Take
a drive through Trenton today, and you will see positive changes
taking place in neighborhoods all over the city. Old buildings of
historic importance are being restored and brought back to productive
use. New construction is taking place, breathing new life in the
form of housing, jobs, and entertainment.
Like
most old industrial cities in the northeast, Trenton suffered a
decline with the loss of manufacturing jobs in the early twentieth
century. Many industrial buildings became vacant skeletons, blighting
their neighborhoods and carrying a stigma of environmental contamination.
But
over the past 11 years, Trenton's mayor, Douglas H. Palmer, has
been a leading force in a true renaissance of New Jersey's capital
city. A showpiece of this rebirth is the new downtown Lafayette
Yard Marriott Hotel and Conference Center. Presently in the last
phases of construction, the hotel-the first of its kind for Trenton-is
scheduled to open early spring. For years, Trenton held the unflattering
distinction as the only state capital in the nation without a first-class
hotel.
"A
major goal of my Administration has been to rectify this,"
said Mayor Palmer. "It took many years of planning, lobbying
and working to develop the creative partnerships that are making
this hotel a reality."
The
mayor didn't stop at creative partnerships. He also came up with
creative initiatives that are helping to ensure millions of dollars
in construction money are going into the pockets of his local taxpayers.
"We
created the state's first Local Business Enterprise (LBE) initiative,
which has ensured that over $1.3 million in hotel construction contracts
were awarded to local Trenton businesses," said Mayor Palmer.
"In addition, we were able to ensure that a significant number
of the people working on the construction of the hotel would be
Trenton residents. This was my way of ensuring that as Trenton comes
back, so do its people and their economic vitality."
Financing
for the hotel came from tax-exempt and non tax-exempt bonds, the
State of New Jersey, the Urban Enterprise Zone program, and Capitol
City Redevelopment Corporation. Additional revenues were provided
by the Trenton Parking Authority, which will operate the hotel's
657-space parking garage.
Given
that Trenton is an old industrial city, construction financing was
not the only money the project needed. The 2.3-acre site required
$1.3 million for environmental remediation. Reimbursement for these
expenses was secured through a New Jersey Brownfield Redeveloper's
program.
A nonprofit
group, the Lafayette Yard Development Corporation, was established
as the hotel owner. A well-respected hotel operator, Marriott, agreed
to lend its flagship name and to operate the hotel. Marriott has
been involved since the beginning in the design of the facility,
which will feature 197 deluxe guestrooms, four hospitality suites,
a 6,000-plus square-foot ballroom, and full conference facilities.
A fitness center and a 24-hour business center with Internet access
will also be available, in addition to a restaurant and lounge.
The $54 million facility is scheduled to open this April. Located
near the State Cultural Complex, the Marriott is within walking
distance of State and City offices as well as historical and cultural
attractions.
"The
hotel represents one point in what we call the 'Triangle of Opportunity',
an area in Trenton which is ripe for redevelopment," said Mayor
Palmer. The new $60 million Sovereign Bank Arena and the $21 million
Waterfront Park baseball stadium, both developed by Mercer County,
form the remaining two points.
The
Arena, a 10,000-seat family entertainment complex, opened in October
1999. The venue has hosted over 355 major events during the first
two years of operation, including professional hockey, college basketball,
and concerts. Amusement Industry magazine recently reported that
the Sovereign Bank Arena is third worldwide in attendance in 5,000-
to 10,000-seat arenas. More than one million spectators passed through
its doors by July, 2001.
The
third point in the triangle, Mercer County Waterfront Park, is home
to the Trenton Thunder, a Double A affiliate of the Boston Red Sox.
The beautiful park is located on the Delaware River in south Trenton.
It regularly breaks attendance records for minor league parks.
This
"Triangle of Opportunity" overlaps one of Trenton's largest,
most prominent former industrial giants, the John A. Roebling Works
building. This 45 acre area was the city's flagship industrial complex
from the late 19th century through the middle of the 20th century,
making the steel cable that held up America's suspension bridges.
Today,
the site is home to a much needed full-service supermarket, ten
retail stores, parking space, the New Jersey Home Mortgage Finance
Agency and a beautiful residential complex for senior citizens.
This stellar project was recently recognized as an example of model
urban development, and will be included in the "FitCities"
exhibit to debut in Salt Lake City during the Olympics. Additional
uses planned in the area include office space, parking, restaurants,
retail, housing, KidsBridge (a children's museum and exploration
center), a YMCA, and a new school.
Next month: More on Trenton's ongoing redevelopment.
