Mid Atlantic Real Estate Journal — New Jersey — February 8 - 21, 2013 — B
www.marejournal.com
N ew J ersey
Design by Minno & Wasko Architects and Planners With site approval in place, Prism set to launch Edison Village WEST ORANGE,
W
NJ — With final Phase I site plan ap-
proval now in place, Prism Capital Partners, LLC is gearing up for a spring 2013 construction launch at Edison Village in West Orange. The $230 million project, which centers on the industrial-to- residential transformation of the historic Thomas Edison Invention Factory and Com- merce Center, represents the largest non-waterfront adap- tive-reuse redevelopment in New Jersey. Edison Village encompasses 21 acres in the heart of West Orange Township’s Downtown Redevelopment Area. The township named Prism Capi- tal Partners as the designated redeveloper for Edison Village in December 2006, and the firm completed a significant amount of demolition and site work in 2008. This fall, Prism received the go-ahead to move the project forward. “Main Street is the heart of West Orange and the most viv- id and authentic expression of our history and culture,” said West OrangeMayor Robert Pa- risi. “Its redevelopment gives us the opportunity to create an exciting downtown in an area that has been neglected for too long. Prism set the direction by creating the best implementa- tion strategies for achieving the community’s vision, while protecting and preserving the historic resources of the town- ship. They saw Main Street’s potential, and have remained faithful and loyal to the suc- cess for our downtown and for our township.” Built in 1913 by Thomas Ed- ison, the factory complex until 1965 served as a manufactur- ing operation where Edison employees produced storage batteries used in light delivery vehicles, automobiles, railroad signals, industrial applications and mining equipment. Phase I of Edison Village involves the total renovation and recon- struction of that facility. “Since industrial structures of this type are few and far between in suburban New Jersey, Edison Village truly represents a distinctive proj- ect,” said Prism’s Edwin Co- hen , principal partner. “The design, by Minno & Wasko Architects and Planners , takes advantage of existing architectural features to incor- porate ceiling heights ranging from 14 to 16 feet and 10-foot windows that will let in abun-
Edison Village in West Orange
be constructed on the corner of Charles Street and along Main Street, providing current and future residents with a new in- town shopping experience at The Shoppes at Edison Village. Additionally, Prism Capital Partners will construct a 630- car parking facility as part of Phase I. n
dant natural light.” The entire project has been created to meet LEED green building certification stan- dards and will feature an ur- ban landscape including parks and open green spaces. Edison Village’s first phase also includes an 18,000 s/f retail component, which will
www.regalbanknj.com
CELEBRATING OUR 107 TH YEAR
Investment Real Estate Brokerage
Recent Multifamily Sales
SOLD
SOLD SOLD
Pensacola, Florida 392 Units $19,600,000
Dover, New Jersey 100 Units $11,450,000
Glenolden, Pennsylvania 174 Units & 3 Commercial $13,500,000
SOLD
SOLD SOLD
Scranton, Pennsylvania 137 Units $8,000,000
Union City, New Jersey 67 Units $6,000,000
Highspire, Pennsylvania 176 Units $5,900,000
multifamily. retail. office.
www.kislakrealty.com 732 750 3000
The Kislak Company, Inc.
Made with FlippingBook - professional solution for displaying marketing and sales documents online