2017: A year of steady progress and milestones for ON3
2017 marked a year of steady progress at our ON3 project in Nutley and Clifton, NJ. With master planning well underway, the redevelopment of this 116-acre former Hoffmann-La Roche campus is positioned to set a benchmark in Walking Urbanism. It promises a world-class, mixed-use setting integrating office and R&D facilities, recreational, hospitality and wellness options as well as all other uses that will comprise the 24/7 environment. Two buildings being converted for the new Seton Hall-Hackensack Meridian School of Medicine are nearing completion and will be ready to accommodate 2018 summer classes. Seton Hall University will co-locate its Graduate College of Nursing and School of Health and Medical Sciences on its 16-acre site as well, and Hackensack Meridian is creating a National Health Institute-designated Clinical Research Center there. Joining this anchor, biofabrication company Modern Meadow in mid-2017 leased and moved into its 73,000 s/f, state-of-the-art laboratory. A future pilot manufacturing plant will be located here as well. Modern Meadow received a $32 million Grow NJ grant. And during the fourth quarter, major LOIs having been executed by multiple additional office and R&D/lab space users. Behind the scenes, a talented and seasoned team has been assembled to oversee day-to-day operations at ON3. This includes several former Hoffmann-La Roche property and facilities management professionals. Their in-depth knowledge of ON3’s sophisticated campus infrastructure and building systems is proving to be invaluable as we move forward. Convenience and accessibility comprised a major ON3 focus in 2017 as well, and we have made great strides toward incorporating on-site bus service that will bring five different bus lines directly into the campus. Additionally, a major ON3 roadway project is queued to commence shortly. Finally, and most recently, we launched a website (www.ON3NJ.com) and social media platforms for “ON3.” These digital tools are designed to inform local residents about the latest redevelopment news at the property. They also are intended to expand the public dialogue regarding ON3’s potential future uses as we work to create an innovative, mixed-use lifestyle hub that will best serve New Jersey businesses as well as the regional community. Looking ahead, we anticipate another year of milestones for ON3 in 2018. Stay tuned. Edwin Cohen, principal Partner Prism Capital Partners in Bloomfield, NJ.