Page 15 - RE-NJ

Rendering courtesy: HMH
A two-phase plan to redevelop 12 acres at the Metropark train station in Woodbridge
will include 244,524 square feet of corporate and medical offi ce space with a new
headquarters for Hackensack Meridian Health, plus 325 apartments developed by a
partnership of Russo Development, Onyx Equities and Terminal Construction.
The $200 million project by Dinallo,
Onyx and Russo or DOR will also
include 142,916 square feet of offi ce
space for HMH’s new headquarters,
allowing the provider to consolidate
three corporate spaces in nearby
buildings. Following its completion,
the developers will begin work on a
second phase with 235 apartments
and retail space.
The team noted that the project
stems from Gov. Phil Murphy’s push
to modernize transportation hubs
throughout the state and create
multiuse locations for residential,
offi ce space, retail and restaurants.
To that end, the state Economic
Development Authority is supporting
the development with a 10-year, $114
million tax credit under the state’s
Aspire program.
Murphy Schiller & Wilkes LLP
Partner Chris Murphy and Brendan
Pytka, the fi rm’s director of tax
credits and incentives represented
the project team in securing the
Aspire tax credit. Gibbons PC,
led by Director Jennifer Phillips
Smith, assisted NJ Transit with the
negotiation and execution of the
master development agreement
and ground lease, while JLL’s
Dan Loughlin, Ron Simoncini,
Joe Messina, Jonathan Ortiz, Tom
Stanton and Matt Loughlin brokered
the lease with HMH.
“On behalf of our partners Onyx
Equities and Terminal Construction,
we could not be more pleased with
the opportunity to redefi ne the
Metropark Station and Hackensack
Meridian’s vision in creating its
new life,” said Ed Russo, CEO of
Russo Development. “It is especially
gratifying to celebrate a topping off
that incorporates a fantastic set of
collaborators, including the State of
New Jersey, NJ Transit, EDA and the
town of Woodbridge.”
Tim Sullivan, the EDA’s chief
executive, added: “Hackensack
Meridian Health’s new health care
center is strategically located
adjacent to a major mass transit hub,
along some of New Jersey’s busiest
thoroughfares, expanding access
to high-quality care to residents
and commuters traveling across
the state. This massive investment
advances Governor Murphy’s vision
of revitalizing our communities
through transit-oriented
development, which is helping drive
job creation and economic growth.
The NJEDA is proud to support
HMH’s state-of-the-art medical
hub and is looking forward to the
project’s next phase, which will
create new housing options for New
Jersey’s families.”
HMH added that, in the last several
years, it has opened outpatient care
centers across the state including in
Eatontown, Clark and Paramus. The
Metropark facility will be the latest in
an ongoing push to bring key network
physicians and ambulatory services
under one roof in easily accessible
neighborhoods throughout the
communities it serves.
“Today marks a signifi cant milestone
toward a commitment to fostering a
vibrant, transit-centered community
anchored by NJ Transit’s Metropark
Station,” NJ Transit CEO and
President Kris Kolluri said. “This
project not only drives economic
growth, but also exemplifi es the
power of strong partnerships —
™ 13
Hackensack Meridian Health CEO Robert C. Garrett was among those on hand Friday,
April 4, as the organization topped off its new health and wellness center project at NJ
Transit’s Metropark station. Seated (from left) are Russo Development CEO Ed Russo,
state Assembly Speaker Craig Coughlin, NJ Transit CEO and President Kris Kolluri and
Woodbridge Mayor John E. McCormac
with Hackensack Meridian Health
providing world-class health care
and jobs accessible by public transit,
and outstanding leadership at the
state and local level. I also want to
commend the DOR team for their
dedication to the timely execution
of delivering this transformative
development, which aligns with our
vision for sustainable, transit-oriented
communities.” RE
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