WESTFIELD, NJ — Westfield's former Lord & Taylor site has been sold to a new developer, Mayor Jeremy Berman said at the Monday night Council meeting.
The site was officially sold to Premier Development last week, Berman said.
Berman said the closing marks "the beginning of a new chapter" for the site.
He also said Premier is not new to Westfield, noting the developer has previously worked with the town on the Parkside development at the former Williams Nursery property.
Berman pointed to the level of local attention surrounding the property and its future.
"I know there has been significant community interest in what happens at the Lord & Taylor site, particularly given the history of this property and the importance of making sure its redevelopment reflects the needs and character of our community," Berman said.
In July, Berman shared that One Westfield Place, the long-discussed redevelopment plan for the former Lord & Taylor property in downtown Westfield, will not move forward in its current form.
The announcement marked a significant turning point for a project that had remained in limbo for months as Saks Global worked its way through bankruptcy proceedings.
As a result, the owners of the former Lord & Taylor properties intended to sell the site, prompting the township to shift its approach to the redevelopment.
As of Monday, Berman said the new ownership group, Premier Development, is now beginning its planning process and the town intends to "maintain rigorous oversight and protect Westfield's long-term interests."
"We will begin conversations with Premier in the coming weeks and will share any new information as we learn more about their plans for the future of this property," said Berman.
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