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Prism Capital Partners Focuses on Sensitive, Sensible, Smart Projects
WEST ORANGE, N.J., Nov. 16, 2020 – Prism Capital Partners, the developer of Edison Village in downtown West Orange, has been named an “Influencer in Multifamily Real Estate” by GlobeSt./Real Estate Forum, a leading industry trade publication. Prism’s redevelopment of Thomas Edison’s historic Invention Factory and Commerce Center encompasses 21 acres on Main Street and is the flagship of the firm’s adaptive re-use portfolio.
With this recognition, GlobeSt. shines a spotlight on the people and firms who have become critical to the nation’s multifamily market, particularly during this unprecedented time. It recognizes significant contributions and innovations that continue to help drive the market’s strong performance.
“Our team is honored to receive this prestigious honor,” said Prism’s Edwin Cohen, principal partner. “At Prism, we are dedicated to creating innovative projects like Edison Village, and we will remain focused on sensitive, sensible, smart development. It is always gratifying to see how the revitalization of a dormant and underutilized site can serve to re-energize the surrounding community.”
To date, Prism has renovated and reconstructed Edison Village’s 100-year-old Edison Battery Factory and surrounding grounds to introduce Edison Lofts – with 334 rental units, 18,400 square feet of retail and a 630-space parking structure. In response to sustained demand for luxury rental homes in the region, Edison Lofts recently released its last remaining block of new apartments for immediate occupancy. Additional development at Edison Village will incorporate 230 for-sale townhomes.
Edison Village has received numerous accolades, including the Urban Land Institute Northern New Jersey Chapter’s “Excellence Award” and the International Concrete Repair Institute’s “Repair Project of the Year” recognition, among many others. Last year, GlobeSt. honored Edison Village with its “ADAPT Award for Greatest Overall Transformation and Community Impact.”
Nutley, N.J.-based Prism remains one of the Garden State’s most active and respected developers focusing on the adaptive re-use and repurposing of turn-of-the-century industrial buildings, other redevelopment sites, as well as transit-oriented, ground-up projects. The company has numerous projects underway, including Wonder Lofts, the industrial-to-residential conversion of the former Wonder Bread factory in Hoboken.
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About Prism Capital Partners
200 Metro Boulevard, Suite 1300, Nutley, NJ 07110
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About Edison Lofts
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Media Contacts:
Sandy Crisafulli / Emily Visco
Caryl Communications
Phone: 201-796-7788
Email: sandy@caryl.com / emily@caryl.com