O wners , D evelopers & M anagers

Real Estate Journal — Section B


M id A tlantic

50 carpenters from NRCC building the development’s concrete superstructure W/Element Hotel development project is one of the largest concrete pours in Philadelphia’s history P

phia hotel and 460 rooms in the Element Philadelphia hotel as well as an outdoor terrace, out- door pool, restaurant, banquet facilities, meeting rooms and retail space. “The building will be 52 sto- ries when it’s completed and is the result of one of the largest concrete pours in the City’s his- tory,” said Robert Naughton , Tri-State regional manager of the NRCC. “One of the major obstacles for this project is the location of the building, which is positioned on one of the busi- est intersections in the City.” Carney Construction , the project’s concrete subcontrac- tor, used approximately 600 trucks to deliver the concrete and installed 620 tons of rebar.

Additionally, 5,850 cubic yards (or a half-acre of eight-foot-deep concrete) were allocated for the building in May 2015. The gen- eral contractor on the project is Tutor Perini Corporation. About the NRCC The Northeast Regional Council of Carpenters (NRCC) represents nearly 40,000 hard- working men and women in Delaware and New Jersey and portions of Maryland, New York, and Pennsylvania. NRCC is one of the largest trade unions on the East Coast. The NRCC equips professional men and women carpenters with the skills, training and quality workmanship that are demanded in today's construc- tion industry. n pleted by year-end 2017 – is being constructed on the cor- ner of Charles St. and along Main St., providing current and future residents with a new in-town shopping expe- rience featuring restaurants and café-style concepts at The Shoppes at Edison Village. An interior plaza with a fountain will be open to the public dur- ing the day. “We have worked hard to design a project of incredible quality – one that celebrates the past while serving to anchor the future of this com- munity,” noted Prism’s Edwin Cohen, principal partner. “It is gratifying to see it coming to life.” Prism secured full approv- als this fall for the project’s Phase II, which will incorpo- rate 230 for-sale townhouses. During Phase II construction, poised to begin during Phase I leasing, the Township’s DPW building will be relocated, and Prism will extend Standish Ave. through the townhome site in order to improve traffic flow for the surrounding com- munity. Infrastructure im- provements will include new roads, sidewalks, St. lighting and landscaping. n

HI-LIGHTS D ec . 22 - J an . 11, 2018 HILADELPHIA, PA — The new dual-brand- ed W Philadelphia and Element Philadelphia Hotel development project, will be the latest luxury addition to the city when it is completed in Spring 2018. The project, which is estimated to cost $240 million, currently has approxi- mately 50 carpenters from the Northeast Regional Council of Carpenters (NRCC) build- ing the hotel development’s concrete superstructure. Once complete, there will be 295 rooms in the W Philadel-

W Philadelphia and Element rendering

Exterior restoration, retail component nearing completion at Prism’s Edison Village in NJ

WEST ORANGE, NJ — Exterior building restora- tion is nearing completion at Edison Village, Prism Capi- tal Partners’ industrial-to- residential redevelopment of the historic Thomas Edison Invention Factory and Com- merce Center inWest Orange. According to Eugene Diaz , principal partner, the project has progressed at a rapid pace. Edison Village, represent- ing the largest non-waterfront adaptive-reuse project in NJ, encompasses 21 acres onMain St., in the heart of West Or- ange Township’s Downtown Redevelopment Area. Phase I involves the total renova- tion and reconstruction of the 100-year-old factory complex, introducing 334 rental units, 18,400 s/f of retail with a supporting 630-space park- ing structure. “This project has been discussed in West Orange for many years,” said West Orange Mayor Robert Parisi. “We are thrilled by the speed that things are happen- ing. From the beginning it was the Township’s hope that this project would provide a much- needed facelift – aesthetically and economically – to that

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Stalco Construction partners with ABC as authorized builder


Edison Village rendering

neighborhood and become an important economic driver to the entire downtown. As the real estate market continues to improve regionally, we be- lieve this project is poised to meet and exceed our expecta- tions and have a significant impact on the Township for years to come.” PrismCapital Partners was appointed designated redevel- oper for the property 10 years ago. “Following extended delays, driven by litigation and the Great Recession, we are pleased to be moving for- ward so quickly in completing what we first set out to do,” Diaz noted. “This project is a poster child for the benefits of

persistence and a disciplined approach.” The studio, one-, two- and three-bedroom, market-rate residences at Edison Village range from 590 to 1,500 s/f, with 20 penthouse duplex residences. The design, by Minno &Wasko Architects and Planners , takes advan- tage of existing architectural features to incorporate ceil- ing heights ranging from 14 to 16 feet and 10-foot replica replacement windows that will let in abundant natural light. A mid-2018 opening is anticipated, with leasing com- mencing in January. Edison Village’s retail com- ponent – expected to be com-

NJ’s Panepinto Props. signs MOU with Incheon Metropolitan City, Korea to develop 2,235 AC site


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