M id A tlantic Real Estate Journal — Owners, Developers & Managers — September 25 - October 15, 2020 — 5B


O wners , D evelopers & M anagers Adaptive reuse project located in Paterson, NJ Blue Onyx Companies launches ‘24+Half,’ mixed-use development


ATERSON, NJ — Blue Onyx Com- panies announced it has begun site work for “24+Half,” an adaptive reuse project located at 24-1/2 Van Houten St. in Paterson. The 2+ acre site is listed on the National Historic Register and is located within the Old Great Falls Historic District along the Passaic River. The five-year master plan calls for transforming the prop- erty’s seven former mills and warehouses into a work/live/ play environment and com- munity hub, designed for the 21st century. “Blue Onyx is committed to bringing strong, positive impact to today’s urban land - scape by investing in and developing transformative real estate projects. As soon as we saw this property, we saw its potential as a vibrant mixed-use community,” said Levi Kelman , CEO. Offering proximity to Rtes. 1-80, 95 and 19 and access to NJ Transit bus and train service, 24+Half is located two blocks away from Pat - erson’s downtown district and is minutes from nearby Passaic County Community College, Berkeley College and William Paterson Uni - versity. The redevelopment will feature approximately 19,000 s/f of residential, com - mercial, dining, and other space. Blue Onyx acquired the site in December 2019. The firm has partnered with architecture firm HWKN to design the commercial, residential and public spaces that will make 24+Half a hub for urban living and community events and ex- periences. Putting Paterson’s eco - nomic development on the drawing board Kelman said his goal is to provide an engine for economic opportu- nity and area improvement by bringing an eclectic mix of residential and commercial tenants to the neighborhood. ”I believe that 24+Half will spur much interest from businesses, investors and de- velopers alike about what’s possible in Paterson, with many incentives available to businesses to locate there through the Urban Enter - prise Zone, Opportunity Zone and Smart Growth Co- alition programs.” MAREJ

24+Half rendering

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