$10 Million, Phase I Site Work Initiative Readies Prism Campus for Reoccupancy
NUTLEY, N.J., – In the next major milestone for Prism Capital Partners’ ON3 development, internal roadway construction and utilities infrastructure enhancement have commenced at the 116-acre campus spanning Nutley and Clifton.
Valued at close to $10 million, Phase I of the multi-tier infrastructure and site work development plan for ON3 includes the addition and rebranding of streets on the east portion of the campus. Its main thoroughfare has been renamed from Main Street to Metro Boulevard, while the former Fifth Avenue is now titled Ideation Way. Additionally, Ideation Way is being rerouted with a new connection to Kingsland Street in Nutley, to provide additional vehicular access to the campus.
The project also includes the installation of new sewer and storm water systems, and a rewiring of PSEG’s connections to the campus electric grid and 10-megawatt, onsite cogeneration facility to enhance redundancy. Comprehensive streetscaping and landscaping will cap off the project, which is slated for completion in July.
“This is a much-anticipated step forward as we ready ON3 for reoccupancy and redevelopment,” noted Prism Capital Partners’ Eugene Diaz, principal partner. “The new Hackensack-Meridian School of Medicine at Seton Hall University is gearing up to open its doors for summer classes, and our roadway improvements coincide with the completion of its building renovations and new surface parking at 123 Metro Boulevard.”
Seton Hall University will co-locate its Graduate College of Nursing and School of Health and Medical Sciences at 123 Metro Boulevard as well, and Hackensack Meridian is creating a National Health Institute-designated Clinical Research Center at the property. Meanwhile, biofabrication company Modern Meadow in mid-2017 leased and moved into its 73,000-square-foot, state-of-the-art laboratory at 111 Ideation Way.
According to Diaz, the Phase I work also sets the stage for additional infrastructure and site work improvements. “The second phase will continue the creation of a robust internal roadway network system at ON3,” he noted. “Specifically, we will be working to define and create specific redevelopment parcels within the campus as we finalize our master plan.”
ON3 – the high-profile redevelopment of the former Hoffmann-La Roche campus in Passaic and Essex counties – is positioned to set a benchmark in Walking Urbanism. Set just nine miles from Manhattan on Route 3, it promises a world-class, mixed-use setting integrating office and R&D facilities, recreational, hospitality and wellness options as well as all other uses that will comprise the 24/7 environment.