$38M NJEDA URBAN TRANSIT TAX HUB CREDIT AWARDED TO PROJECT SEEN AS INFLUENTIAL CATALYST IN ONGOING REVITALIZATION OF DOWNTOWN NEWARK WILL BE NEWARK'S TALLEST BUILDING NEWARK, N.J., May 5 /PRNewswire-USNewswire/ -- On May 5th at 11:00am, Dranoff Properties, in conjunction with The New Jersey Performing Arts Center (NJPAC) and the City of Newark, unveiled their plans for the development of One Theater Square.