This recent photo shows the infrastructure upgrades underway at the former Hoffmann-LaRoche campus in Nutley and Clifton, now known as ON3, as part of a mixed-use redevelopment plan by Prism Capital Partners. – Courtesy: Prism Capital Partners
By Joshua Burd
Prism Capital Partners has launched nearly $10 million in roadway and utility upgrades at the former Hoffmann-LaRoche campus in Nutley and Clifton, as it prepares to welcome new tenants to the 116-acre redevelopment site.
The firm last week announced what it called the next major milestone for the complex now known as ON3, which includes the construction of new internal roadways and the rebranding of existing streets on the east portion of the property. The work also includes new sewer and storm water systems and a rewiring of PSEG’s connections to the campus electric grid and 10-megawatt, onsite cogeneration facility to enhance redundancy.
“This is a much-anticipated step forward as we ready ON3 for re-occupancy and redevelopment,” said Eugene Diaz, principal partner of Prism Capital Partners. “The new Hackensack-Meridian School of Medicine at Seton Hall University is gearing up to open its doors for summer classes, and our roadway improvements coincide with the completion of its building renovations and new surface parking at 123 Metro Boulevard.”
Prism said the project is the first in a multiphase effort at the Route 3 property. Its main internal thoroughfare, formerly Main Street, has been renamed Metro Boulevard, while the former Fifth Avenue is now titled Ideation Way.
Additionally, Ideation Way is being rerouted with a new connection to Kingsland Street in Nutley in order to provide additional vehicular access to the campus.
Plans for the infrastructure project, slated for completion in July, also call for comprehensive street-scaping and landscaping.
In addition to the new medical school, Seton Hall University will co-locate its Graduate College of Nursing and School of Health and Medical Sciences at 123 Metro Blvd. Hackensack Meridian Health is also creating a National Health Institute-designated clinical research center at the property.
Already, ON3 is home to the biofabrication company Modern Meadow, which occupies 73,000 square feet of laboratory space at 111 Ideation Way. Two other major companies, including Quest Diagnostics and Ralph Lauren Corp., have been awarded $88 million in state tax credits in connection with proposals to move to the site, although Prism has never publicly discussed negotiations with either company.
Diaz said the new roadway and utility work sets the stage for additional infrastructure and site work improvements.
“The second phase will continue the creation of a robust internal roadway network system at ON3,” he said. “Specifically, we will be working to define and create specific redevelopment parcels within the campus as we finalize our master plan.”
Prism has been working on redeveloping the sprawling campus since acquiring it in fall 2016. The property served as research hub for Hoffmann-LaRoche for more than 80 years, but the Swiss pharmaceutical company announced in 2012 that it would vacate the site.
The Bloomfield-based developer has since begun to reposition it as a mixed-use hub for corporations and research, hoping to seize on its location just 10 miles from Manhattan.