Claim: Triangle Park is a parcel of approximately 3 acres, the city acquired the land for $9.4 million from Edison Properties based in Newark, New Jersey.
Evidence: The site is a parcel of approximately 3 acres (1.2 ha) in the shape of a triangle. The city acquired the land for the arena and park under the auspices of the Newark Downtown Core Redevelopment Corporation (NDCRC) for about $9.4 million in a series of complex purchase and transfer transactions with landowners Jose Lopez (a prominent local restaurateur)and Edison Properties, among others. Edison Properties is a privately owned real estate holding and development firm based in Newark, New Jersey founded in 1956.