Newark arena to cost $310 million

Earlier this week, the City of Newark, New Jersey, and the New Jersey Devils signed an agreement to build a new arena in downtown Newark for the hockey team. The arena will hold 18,000 fans and will cost $310 million, $210 million from the city, $100 million from the team. It's supposed to be completed in time for the 2007 NHL season, not long from when Tulsa's similarly sized arena is scheduled to be complete.

Granted that cost of land and cost of labor is higher in Newark than in Tulsa, but it still ought to concern the folks running Vision 2025, given that they have less than $200 million to spend on the same size arena, with the added burden of carrying out starchitect Cesar Pelli's grand vision.