A final ordinance by the East Brunswick City Council was approved to issue $40.3 million in bonds to finance a municipal ice arena.

The state-of-the-art ice arena will feature two NHL sized rinks that will be able to host hockey tournaments, figure skating, birthday parties, summer day camp programs and more.

The location, at the site of the old Wonder Bread factory, will sit next to a mixed-use development featuring 520 apartments and townhomes that are expected to open later this year.

East Brunswick Mayor Brad Cohen says it's a project that's been years in the making.

“By naming it Legacy Place, the developer already put into motion the idea that this was a piece of property out of nowhere. It does have history to it,” Cohen said.

Cohen says the ice area will mean more business for local hotels and restaurants ad will drive more foot traffic to nearby shops in the area.

The township is hoping that with competing bids opening in a few weeks, the cost might be less than the estimated $40 million it will take to build. They are hoping to break ground later this year.