Industry Noize: LN, AEG Vying For Loew’s Theatre

Two other firms – Ace Theatrical Group and Catch Holdings – have submitted proposals for the project, which seeks to transform the 85-year-old movie palace into an entertainment venue.

AEG joined forces for the project with Mana Fine Arts and New Jersey City University, Live Nation’s bid is linked with Jones Lang LaSalle, Ace Theatrical is working with New Jersey Performing Arts Center and NJCU, and Catch Holdings submitted a proposal solo.

“The restoration of the Loew’s Theatre is one of the most important projects we are undertaking as an administration, as it is both central to the revitalization of Journal Square and the expansion of our cultural arts community,” Mayor Steve Fulop said in a statement to the Jersey Journal.

Jersey City is facing a lawsuit over part of the restoration projecct, however.

Friends of the Loew’s, a nonprofit group that handles most the theater’s programming, isn’t pleased the city would like to bring in new management and claims doing so would breach FOL’s contract, the paper noted.

FOL has reportedly rented the space for as little as $1 annually, and the city says the group’s lease is no longer valid. Both sides are scheduled to meet in court soon.

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