It's been valuable for decades but the scum developers are only interested in land banking. The proposed something they'll never build in Newark like a massive 60 story or super tall skyscraper, knowing newark, a city desperate for such high profile developments, will approve it. The developer then sells the land for a higher value based on the value of what's been approved on it. In Edison's case, they're not interested in building anything or selling. Parking lots is their game. It is a safe money source and whenever something gets built, they insist on a new parking lot to compensate the one that was lost. Edison basically insists on land swaps. And I suspect that's what happened to the properties in the Ironbound they were recently demolished by Edison. Probably part of the compensation for the land that became Mulberry Commons park. It's just my guess but I wouldn't be surprised.