AT A GLANCE
95 Watchung Avenue
North Plainfield, NJ 07060
OUR EXPERTISE
- Mixed-use residential / multifamily design
- Warehouse / industrial design
OUR CLIENTS
Our clients are primarily developer clients who invest in mixed-use residential and multifamily buildings, as well as industrial developers who build warehouses. Our clients are large established developers, as well as smaller real estate investors. They come to us based on our high level of expertise in each of our areas of focus. Additionally, we add a tremendous amount of value acting as a development consultant for our smaller clients. We understand the entire development process, as well as real estate economics. This is where we help our clients shine.
PROJECT SPOTLIGHT
One of our most noteworthy projects to date is the TODD West Redevelopment project in Plainfield, New Jersey. This project is right in our backyard and dear to us because it has been a very involved process that started pre-COVID and had many challenges resulting from the economic hurdles. The project started as a 357-unit, four-building mixed-use residential compound in the heart of Plainfield’s downtown district. Two of the buildings were 11 stories with rooftop restaurants. This was the pre-COVID design, which required several redevelopment plan amendments, which were part of many negotiations with city redevelopment officials. Approvals were achieved in 2021 in the midst of the pandemic. At this time construction prices started to soar, along with nationwide supply chains woes, putting a damper of the future of the project. Then came rising interest rates, hampering the financial health of the project. In 2023, the decision was made to reduce the scope and scale of the project, revising our two 11-story buildings to six stories. This change to wood construction over podium lowered construction costs dramatically, opening up more opportunities with lenders. Today the project is approved for 282 units. One building is complete, one currently under construction and the remaining two buildings slated to start construction in the next year. What an incredible testament to the challenges of real estate design, construction and development.
ON THE HORIZON
Looking into the near future, we still see mixed-use residential as an area of continued growth. We know that New Jersey and the nation are still lacking quality housing solutions and with single-family housing out of reach for many, multifamily projects are satisfying that need. Additionally, many of our aging towns and cities are in need of redevelopment. The mixed-use model of live, work and play has seen tremendous success in the past decade. Additionally, in our industrial markets, we look forward to contributing to data warehouse development. The rise of AI-specific buildings and the power needed to feed them is going to be a tremendous market.
