Commercial real estate owner/operator Prism Capital Partners, LLC, has broken ground for Phase I at The Parkway Lofts, a multi-family adaptive reuse in Bloomfield and East Orange, N.J.
Located on the Garden State Parkway, the master-planned project initially includes the conversion of a 114-year-old, 365,000-square-foot, six-story warehouse building into 361 loft-style apartments, and the creation of a three-level parking facility. At build out, the 14.5-acre site will be transformed into a distinctive, high-density residential village also featuring 150 for-sale townhomes, a clubhouse and other lifestyle amenities to be built as part of Phase II.
Prism acquired the property – originally built by General Electric – in 2005. It sits within a residential area and benefits from immediate access to the Garden State Parkway, as well as high-speed rail service to New York City via the Watsessing Avenue Rail Station (located less than 100 yards from the development).
The design takes advantage of the building’s 17-foot floor-to-floor ceiling heights and heavy floor loads; Prism is adding a new intermediate second floor and a penthouse level. The firm also is preserving many original architectural features. This includes 15-foot, quilt-panel windows that accentuate the property’s views of New York City to the east and the Watchung Mountains to the west. BD+C
Related Stories
| Aug 11, 2010
PBK, DLR Group among nation's largest K-12 school design firms, according to BD+C's Giants 300 report
A ranking of the Top 75 K-12 School Design Firms based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants
| Aug 11, 2010
Turner Building Cost Index dips nearly 4% in second quarter 2009
Turner Construction Company announced that the second quarter 2009 Turner Building Cost Index, which measures nonresidential building construction costs in the U.S., has decreased 3.35% from the first quarter 2009 and is 8.92% lower than its peak in the second quarter of 2008. The Turner Building Cost Index number for second quarter 2009 is 837.
| Aug 11, 2010
AGC unveils comprehensive plan to revive the construction industry
The Associated General Contractors of America unveiled a new plan today designed to revive the nation’s construction industry. The plan, “Build Now for the Future: A Blueprint for Economic Growth,” is designed to reverse predictions that construction activity will continue to shrink through 2010, crippling broader economic growth.
| Aug 11, 2010
New AIA report on embassies: integrate security and design excellence
The American Institute of Architects (AIA) released a new report to help the State Department design and build 21st Century embassies.
| Aug 11, 2010
Section Eight Design wins 2009 Open Architecture Challenge for classroom design
Victor, Idaho-based Section Eight Design beat out seven other finalists to win the 2009 Open Architecture Challenge: Classroom, spearheaded by the Open Architecture Network. Section Eight partnered with Teton Valley Community School (TVCS) in Victor to design the classroom of the future. Currently based out of a remodeled house, students at Teton Valley Community School are now one step closer to getting a real classroom.
