M id A tlantic Real Estate Journal — Owners, Developers & Managers — August 2025 — 31
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O wners , D evelopers & M anagers Mixed-use elements to span Clifton and Nutley, New Jersey parcels Prism secures three key redev. plan approvals for ON3, solidifying campus’ live/work/play future
LIFTON and NUT- LEY, NJ — Prism Capital Partners has secured three redevelopment plan approvals from the City of Clifton and Township of Nutley for its mixed-use ON3 campus. Together, the mile- stones pave the way for the construction of up to 1,074 multifamily units, 90,000 s/f of additional retail space, a 150,000 s/f R&D facility, and an 11-acre parcel slated for a major data center or other permitted use. “This major step forward to complete the vision plan for ON3 has been years in the mak- ing, and we are thrilled to move past some major hurdles and toward the creation of a true live/work/play ecosystem,” said Prism’s Eugene Diaz , principal partner. “ON3’s strategic design and position on Route 3, just nine miles from Manhattan, provide us with an opportunity to create a world-class property that speaks to the changing demands of NJ communities, residents and businesses. These approvals are wins all around – for our campus’ evolution, ON3’s in-place tenants, future tenants, future residents and both municipalities.” In Clifton, Prism’s newly approved Phase IV redevelop- ment plan includes the mul- tifamily and retail elements, sited on acreage along Rte. 3 East. The July approval moves forward Prism’s place- making vision to introduce new housing options in an undersupplied market as well as restaurants, small shops, a neighborhood market and other uses to support the cam- pus and enhance one of the region’s major retail corridors. In Nutley, ON3’s Innovation Center tract fronting on King- sland Street is earmarked for the development of a state-of- the-art R&D operation. With a deal in place involving an in- ternational consumer products company, Prism anticipates a near-term site plan approval filing and could be ready to launch construction as soon as late summer. Additionally, Nutley has ap- proved Prism’s plan to redevel- op 11 acres at 275 Kingsland St. That site can accommodate a major data center and other permitted uses. “Prism hit the trifecta with these simultaneous plan ap- provals,” said Edwin Cohen , principal partner. “Location C
for New Jersey.” Prism’s vision for ON3 began in 2016 with the acquisition of the former Hoffmann-La Roche North American HQ campus. The firm has focused on transforming the site into a next generation lifestyle hub integrating office, and R&D, educational, residential, recre- ational, retail, hospitality and wellness facilities. More than $500 million has already been invested into creating and ten- anting the ON3 campus, and Prism estimates an additional $500 million will be spent to complete the full build-out of
the Vision Plan. Additionally, a 10MW Co-Hybrid power plant efficiently provides electricity, heating and cooling throughout the campus properties with redundancy and a reduced carbon footprint. Today, ON3 includes 1.45 million s/f of fully occupied office, educational, healthcare and R&D/lab space. ON3’s first retail tenant, Starbucks, opened this past December, with others to be announced. Planned hospitality develop- ment includes a 266-room, dual- branded Marriott AC/Element Hotel with a rooftop bar. MAREJ
Phase IV rendering
and lifestyle are at the cen- ter of what ON3 has already become, and with new and expanded uses on the way,
this award-winning campus is positioned to set even higher benchmarks for redevelop- ment and its value potential
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