Township's Downtown Redevelopment Project Could Start this Fall

Almost 14 years after initial talks started for the $250 million downtown redevelopment plan of the land surrounding the Thomas Edison National Historic Park on Main Street, West Orange Mayor Robert Parisi said he hopes to move forward with the project this fall.

Parisi said he has put together a team of individuals to look into the plans and revive its original three-phase idea to build condominiums, construct a road parallel to Main Street and help infuse life into the community with new retail space. Englewood-based Prism Capital Partners is funding the project through a private group of investors.

"Now we're evaluating whether or not it's the right plan and to see how the project can be structured so there's no financial impact on the township," he said. "We're making sure it doesn't create any kind of strain on the real estate market because clearly the goal is, without question, to redevelop Main Street."

The plan first started in 1996. Phase one includes tearing down the Edison Battery Factory and constructing a 635-space parking deck, 322 residential units and 18,500 square feet of retail on 1.7 acres. Phase two includes tearing down the Barton Press property and the township's current public works building, located behind the Edison Museum complex, to construct residences.

Parisi said the township is looking into additional properties to relocate public works, if the plan moves forward. Phase three includes construction of retail space on half of Babcock Place and the CVS property at the corner of Main and Aiden streets. A message was left with a CVS representative, but no one from the company returned calls seeking comment.

"We want to proceed," Parisi said. "We want to make sure, though, that it doesn't cost a nickel to the taxpayer and that it is a right mix of residential and commercial."

Eugene Diaz, principal, Prism Capital Partners, the owners of the property, said his company remains bullish on the prospect of the redevelopment. "We're continuing to work through this current dysfunction in the banking systems so we can push the project forward," he said.

Business owners on Main Street surrounding the property have mixed opinions on the development.

Armstead Johnson, 53, of East Orange, who works at the West Orange Community House and the Boys and Girls Club of America at 242 Main St., said there's a main concern with traffic. "In the last few weeks, they put out a traffic sign in the last few weeks ... right now when we have school, the traffic guard has a hard time stopping traffic," he said. "They do need to try to do something during the school year if there's going to be more traffic on Main Street ... they need to really think of putting a stop sign or policeman there because there have been problems in the past."

John Peterson, 35, of Hoboken, said, if the project goes forward,  the construction is going to be a mess.

"At midday, traffic gets pretty bad here, especially down toward Washington School," he said. "I've been around here for 15 years and it's always been a pretty dangerous area ... so either a stop sign or something to control the traffic a little better."

Edmond Valentini, 77, of West Orange, who owns Val's Barber Shop at 255 Main St., said the construction is a mistake. "They lost a beautiful income from Barton's Press," he said. "We all lost business from there."

He said he's completely against the plan. "It's a waste," he said. "This will never happen ... it's not the area for it. I mean, all those condos and what do you got across the street? An auto body shop. Are you going to look out into the auto body shop?"

He said traffic will be terrible. "You try to cross the street now at 3 o'clock in the afternoon and you can't even do it," he said.

Parisi said the plan has addressed issues, such as traffic, by opening up another road parallel to Main Street. 

Ron Williams, of West Orange, who owns a jewelry shop at 257 Main St., said the redevelopment might help bring more business to his store.

"It might help my local business because with more residents coming into the area, they'll probably shop local," he said. "There isn't a date chosen yet, you have to remember that the entire transaction was underwritten and predicated on substantial equity and bank financing, as well as the redevelopment area bonds that was pledged by the township."

Paul Mihalitsianos, 62, of Hackensack, who owns West Orange Diner at 270 Main St., said the project will help beautify the town's current appearance. "It's a good idea to finish the construction," he said. "As soon as they finish the project down there, it will will be beautiful and good for the whole town."

Parisi said the project has had years of public input to help alleviate any trouble. "When the plan was finally approved from years of contentious meetings, no one from the public came," he said. "So, years of meetings got everyone on board to when the plan was approved, the public seemed pleased with it. It was going to be someone else's money, the marketing was booming ... the problem is the financial world crumbled."

Diaz said the bond market and construction market have been difficult to navigate during the past few years, resulting in the delay. "As those markets are beginning to recover, we're hoping we'll get there sometime later this fall," he said. "At this juncture, we are having favorable conversations and discussions with intermediaries from both those markets."

Parisi said the process has been ongoing and, though, the possibility of starting in the fall is promising, it's not definite. "The challenge is the confined space with not a lot of access," he said. "It's an old structure and it's always a financial issue." The township mayor said he is certain the project is the right move for West Orange.

"It has a good mix of residential and commercial," he said. "It will infuse a little bit of life into the neighborhood to what is now just an industrial site."

Diaz said the entire three-phase process, if started this fall, will take five to six years to complete, with phase one completed in 36 months. "There's no taxpayer dollars and there's no recourse to the township," he said.