Final ON3 redevelopment plan for Clifton site revealed. Here's what we know

CLIFTON — The final redevelopment plan for the ON3 property that once housed Hoffmann-La Roche was revealed by Prism Capital Partners this week.

Upon hearing about the plan at Tuesday night's meeting, the city's council members seemed pleased.

"I am enthusiastic about the proposal," Clifton Mayor Ray Grabowski said. "It means a huge boost for our economy not only ratablest, but many jobs for Clifton residents."

The additional revenue from repurposing the former pharmaceutical campus will go a long way in meeting the city's budgetary needs and providing relief to its taxpayers, officials said.

Phase IV

Prism Principal Eugene Diaz made his presentation to the city's officials prior to Tuesday's meeting. It calls for a mix of retail and luxury apartments, both of which are key in the developer's vision to create a complex where its tenants live, work and play.

"Mixed-use properties outperform their single-use counterparts," Diaz told the council.

Citing the example of Morristown, which boasts the state's highest office rates, Diaz attributed that success to the ability of people to live in the area where they work and also eat, drink and are entertained.

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When the pharmaceutical giant announced it was leaving the site that straddles the Clifton and Nutley border about a dozen years ago, the municipalities joined efforts and announced they did not want the site loaded up with residential and retail, which they considered a dying sector.

ON3, by adding about 1,087 luxury apartments, would complete Prism's vision of creating a community that not only reflects what the modern worker wants but also provides the enticements needed to get people to return to the office post-COVID.

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The developer of the 116-acre campus has focused on finding tenants that bring well-paying jobs. Some tenants include Hackensack Meridian's medical school, Ralph Lauren, Modern Meadow and Eisai Pharmaceuticals.

Prism has also invested in the site's infrastructure, improving roads, access and thousands of parking spaces in parking garages. Diaz said Prism expects to start working on adding acceleration and deceleration lanes along the Route 3 side of the property.

Currently under construction are an 80,000-square-foot medical building and a 3,500-square-foot Starbucks. Coming soon will be a 264-room hotel with a rooftop bar and a grocery store.

However, Diaz told the council these amenities are not enough. Prism has always said it plans to add a housing component where people can work, live and play. Amenities such as bike paths and places to walk within the complex and eateries to grab a bite are increasing what the latest generations of workers want, Diaz said.

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ON3 still has room in its third phase to construct a 380,000-square-foot office complex in the northeasternmost corner. High-end companies remain interested but they would also like to see a housing component added, Diaz said.

"Phase IV, particularly with its mixed-use components, offers a great opportunity to enhance the vibrancy and economic growth of our city," Councilwoman Rosemary Pino said, " I believe this project aligns well with our long-term vision for sustainable development and community enrichment."

Phase IV, consisting of a 22-acre lot, will house the apartments, a mix of studio, one- and two-bedroom apartments with smaller, perhaps 7,000-square-foot retail stores, plus a 70,000-square-foot office complex. The apartments, Diaz said are expected to be about 12 stories or 125 feet tall.

It would be situated more to the center of the property, between Route 3 and the larger existing buildings such as the medical school.

Once approved, Diaz said he expects the project to take six to eight years to finish.

Diaz said Prism's analysis indicates that it will have invested hundreds of millions of dollars on just the Clifton portion of the property. Clifton, he said, will realize $94 million in revenue, including local property taxes, over 10 years.

City Councilman Joe Kolodziej also welcomed Diaz's presentation.

"ON3 has delivered on every promise they made since they began this redevelopment project," Kolodziej said, "so I support their proposal based on their presentation last night."

Councilman Bill Gibson said he liked the presentation but wanted to mull it over.

"Right now I am more in favor of building it," he said as parking isn't a problem, neighbors are not likely to object and it should enhance other businesses in the area. "I do need time to think this through."

An impact study needs to be completed on how the plan impacts local services before a decision is made, Gibson said.

This article originally appeared on NorthJersey.com: Final ON3 redevelopment plan for Clifton NJ site revealed