Jersey City Loew's Theatre awarded $42.27M in tax credits for rehabilitation

The New Jersey Economic Development Authority (NJEDA) board approved an award of $42.27 million in tax credits to support a project rehabilitating Loew’s Theatre in Jersey City.
It marks the first approval under the new Historic Property Reinvestment Program (HPRP), which focuses on historic preservation while trying to attract private investment in the Garden State.
The program works in tandem with the Federal Historic Tax Credit Program to encourage long-term investment and development focused on rehabilitating existing historic structures throughout the state, such as Loew’s Theatre. It also incentivizes work that can help revitalize cities and downtowns into more vibrant areas while preserving these historic properties and returning them to productive use.
“By supporting projects like the revitalization of Loew’s Theater into vibrant community assets, we are ensuring...