WEST ORANGE, NJ – We reviewed countless adaptive reuse projects, exhibiting impressive improvements and commendable efforts for GlobeSt.com's ADAPT awards this year. We are pleased to honor Edison Village in West Orange, NJ as the winner for greatest community impact and overall transformation. We will be recognizing the project at our awards ceremony in Baltimore on September 16th. The 100-year-old Thomas Edison Invention Factory and Commerce Center originally built in 1913 by Thomas Edison, served many manufacturing uses until it ceased operations in 1965. The 21-acre site in West Orange, NJ was long overdue for an aesthetic and economic facelift when real estate owner and operator, Prism Capital Partners offered a new, clear vision for property. The crumbling, 400,000-square-foot building located in a neglected downtown area, included on the US Registrar of Historic Buildings, was taken on by the redeveloper in a $230 million industrial-to-residential-and-retail transformation. The lengthy development process launched in 2008 as the firm completed demolition, before quickly running into a legal battle from a group of concerned residents that significantly delayed the project for more than nine years. The developers obtained final site plan approval in 2012, then securing financing to launch construction in 2016. Prism and Dune Real Estate Partners remained committed to the city and the project throughout the prominent delays. Phase one of the project consisted of a collaboration with Minno & Wasko Architects and Planners to completely restructure the factory into The Residences at Edison Lofts, featuring 300 apartment units while respecting federal guidelines, meeting LEED green building standards and working closely with the West Orange Historic Preservation Society to blend old and new style elements. The completed phase of Edison Village also included a ground-up construction of The Mews at Edison Lofts, comprised of 34 one- and two-bedroom homes located on top of a 18,400-square-foot retail component, The Shoppes at Edison Village. In addition to the residential and retail expansions, a 630-space parking structure was also constructed. Phase two of the project will begin in late 2019, incorporating an additional 230 for-sale townhome residences, including 60 affordable housing units. Edison Village caters to residents by offering contemporary, active lifestyle amenities such as an indoor swimming pool, a sauna, a 12,000-square-foot rooftop lounge with panoramic views of Manhattan and a 5,000-square-foot fitness center equipped with Peloton bikes. The village also includes concierge service, media screening rooms, a private dining room, personal storage, a dog spa and soon, a commuter shuttle service to the local train station. The property also boasts new sidewalks, street lighting and outdoor space to enhance walkability in the area. Edison Village aims to pay tribute to Thomas Edison through collaborations with the newly refurbished, nearby Edison National Historic Site and Museum and the Edison Foundation to reinforce its historic connections. The project has enabled vast updates to the roadways and water, sewer and electric systems, connecting the improvements to the surrounding residential neighborhoods. Edison Village is strengthening neighborhood property values, expecting to generate $10 million in additional retail spending for the city. Through the project's extensive development and its consistent engagement with the community, Prism Capital Partners successfully launched the largest, non-waterfront adaptive reuse project in the state, driving the downtown area's economic value by regenerating the industrial neighborhood.

➤➤ Join your colleagues at the GlobeSt.com ADAPT: Opportunity Zones awards September 16th in Baltimore, MD, where we put a spotlight on the achievements of those who have had a hand in locating adaptive reuse solutions across the country. At the same time it is also focusing on Opportunity Zones and the potential they offer - for both adaptive reuse and new construction. Click here to register and view the agenda.