Download Word Document: Click Here
ON3 Redevelopment to Serve as Inspiration for Student Teams from Rutgers, Monmouth and Villanova
NUTLEY, N.J., Mar. 29, 2018 – When members gather for NAIOP New Jersey’s April 4 Industry Insights Series dinner, they can expect to hear some big ideas from the next generation of CRE professionals about their vision for the ON3 redevelopment of the former Roche Pharmaceuticals headquarters.
Students from Rutgers, Monmouth and Villanova Universities are participating in NAIOP NJ’s 4th Annual CRE Intercollegiate Case Study (CREICS) competition, which is sponsored this year by Prism Capital Partners. The three collegiate teams have a chance to influence the planning of the firm’s ambitious ON3 initiative, which is New Jersey’s largest contemplated redevelopment. Projects will be judged on financial feasibility, design excellence and sustainability, with a $5,000 prize on the line.
“NAIOP NJ is committed to educating students about the real-world process of meeting the needs of companies and communities,” said Michael McGuinness, CEO of the commercial real estate development association. “The CREICS competition gives these students the unique opportunity to engage with and learn from industry professionals and municipal leaders, and it promotes the exchange of innovative ideas and fresh perspectives that benefit us all.”
Eugene Diaz, principal of Prism Capital Partners, hosted the student teams in January for a site tour and project overview. Spanning 116 acres in Nutley and Clifton, ON3 is envisioned as a seamless integration of mixed uses such as medical, R&D, apartments, retail, hotel and entertainment amenities. The campus currently includes trophy quality office and research/development buildings aggregating more than 1.2 million square feet. The complex’s unparalleled infrastructure emphasizes sustainability, compliance with LEED standards and redundancy in all essential utility services.
“We know the 24/7 lifestyle hub concept appeals to forward-thinking enterprises that want to offer their employees an environment that allows them to live, work, learn and play all in one place,” said Diaz. “It takes creativity to attract innovative users for the long term, and we’re excited to see how these students can inspire and influence our vision as we work to ensure that this redevelopment best serves businesses and the regional communities.”
The winning team will be announced at the April 4 event, which will be held on site at ON3 in Nutley from 5 to 7:30 p.m. The judges for this year’s competition are James Anzaldi, Mayor of Clifton; Dr. Joseph P. Scarpelli, Mayor of Nutley; Eugene Diaz, Prism Capital Partners; Mary K. Murphy, NJTPA (North Jersey Transportation Planning Authority); Robert Rudin, Cushman & Wakefield; and Roger Smith, Gensler. The program will include remarks from Diaz, Scarpelli, Anzaldi and student presentations of their case studies. For more information or to register, visit NAIOP NJ.
###
Follow NAIOP New Jersey on Twitter, Facebook and LinkedIn
Media Contacts:
Rebecca Gramuglia / Irene Zampetoulas
Caryl Communications
Phone: 201-796-7788
Email: rebecca@caryl.com / irene@caryl.com