(Drone Footage Credit – Dave Kotinsky)
Opportunity Comes Knocking on La-Roche Development
[Oprah Voice] “You get a job, you get a job, you get a job AND you get a job!”
Prism Capital Partners LLC recently purchased the former La-Roche development in 2016. An according to Nutley’s township Attorney, Alan Genitempo, 5,000 – 8,000 jobs are expected to be created. This will be great for the economic growth of Nutley. Nutley’s Mayor Scarpelli expressed, “We’re very excited by that. More people will spill over into our local economy. It will create jobs and is good for the local economy and for our ratables.”
Along with the new batch of jobs created, there will be many changes to the buildings. “We’ve been working with the developer on a weekly basis and getting status reports,” says Genitempo.
The new plans for the reconstruction of the 16 acre property includes: redevelopment of two buildings – which will become the new private medical school and research facility, offices, compatible commercial uses, and structured and surface parking facilities. When designing the future structures, the developers want those who will be working in the buildings to enjoy a campus-like greenery. In addition, Seton Hall College of Nursing and School of Health and Medical Science will be built on 10 to 9 acres of land that will be leased out. Prism’s Edwin Cohen stated, “At the same time, we are working closely with the Township of Nutley, city of Clifton and a team of consultants to develop a vibrant mixed-use, multiuser plan.”
Situated between the Garden State Parkway and NJ Turnpike, the former La-Roche development will now be rebranded as ON3. And due to the location, this is said to be a highly sought after business address that has many companies interested. “There has been interest from high-tech industries,” Scarpelli said.
With massive changes, township leaders are very welcoming to the new possibilities. “It’s the future of Nutley. It’s the lifeblood of our economy, says Genitempo.”
For Team Ellenbogen
Feel free to visit our website,www.rethinkrealestatenj.com, for more information on real estate.
To connect on social media, you can like us on Facebook, tweet us @teamellenbogen, visit our Google+ page, view our videos on YouTube or follow us on our Pinterest page: ReThinkRealEstateNJ.com Team Ellenbogen.