WEST ORANGE, NJ — Construction on the Edison Village residential and retail complex is continuing as scheduled since work started in February, according to one of the principal partners of Prism Capital Partners, which is overseeing Phase 1 of the project.
Eugene Diaz told the West Orange Chronicle that interior demolition and remediation have been completed for the Edison Battery building, while the window removal is half finished and the roof is being removed. Additionally, Diaz said workers have excavated the site and poured the footings and foundations for the parking garage and retail space.
The only unexpected issue the workers encountered so far was the discovery of some buried footings and vaults beneath the floor slab, though Diaz said they just required additional care and time to remove. Overall, the principal partner said Prism is pleased with the way the project is progressing.
“The building is already beginning to show well, and you are able to see what an outstanding residential building it will become,” Diaz said in a July 8 email. “We are looking forward to completing it and watching it transform this downtown area.”
Diaz said the erection of the garage will be one of the next jobs done at the site. Other work set to be completed soon includes the relocation of a utility pole on Main Street and the installation of scaffolding in preparation for the Edison building’s facade renovation, he said. Permits are necessary to renovate the building, as well.
At this rate, Diaz said Edison Village should be completely finished by June 2018. That is several months prior to the Feb. 1, 2019, deadline mandated by the revised redevelopment agreement executed in February 2016.
The end being in sight for Edison Village is a major turnaround from the approximate decade of inactivity that followed the project’s initial approval in 2006. During that time Prism, which controlled the redeveloper entity GP 177 Main Urban Renewal LLC, and township officials supportive of the project stressed that a lawsuit filed against West Orange by five residents about the issuance of $6.3 million in redevelopment bonds was the main cause of the delay. However, opponents of the project argued that nothing was stopping Prism from building, especially after the New Jersey Supreme Court decided in the township’s favor in December 2015.
Things started to turn around in February 2015, when the township announced that Dune Real Estate Partners was coming on board the project. After a year of legal preparations and the closing of a $70 million construction loan, the investor eventually executed a revised redevelopment agreement establishing the Dune-controlled DGP Urban Renewal LLC as the new redeveloper and infusing $35 million in new capital into the first phase of the project. Prism became an administrative member of the entity in charge of overseeing Phase 1 construction, which officially started shortly thereafter.
The township is glad to see the project finally moving forward, Jack Sayers, the West Orange business administrator, said. In addition to the progress being made, Sayers said DGP is up to date on its property taxes for the Edison Battery building. Prism was often criticized by opponents for being delinquent on property tax payments when GP 177 was the designated redeveloper.
Looking ahead, Sayers said he hopes the project will continue on its current track.
“I think they’ve been doing a great job since they started,” Sayers told the Chronicle in a July 7 phone interview. “We’re very happy with the progress that they’ve made so far, and we’re going to stay on top of it to make sure this thing gets done as quickly as possible.”
Council President Victor Cirilo is also satisfied with how the project is proceeding, especially since he is seeing more community members coming out in support of it. Cirilo said he has spoken with many residents and local business owners who expressed excitement over the potential increase in foot traffic that will come to the downtown area once Edison Village is completed. And though the finished complex is still a few years away, he said one can already feel a difference on Main Street.
“There’s a lot of energy related to the development and the future of Main Street,” Cirilo told the Chronicle in a July 8 phone interview, adding that converting the Edison Battery building into residential and retail space will inject new life into the downtown area. “I just feel that it’s a tremendous positive for the town.”
Even Councilman Joe Krakoviak, a vocal critic of the project for many years, said he is pleased with the way the project is proceeding. After years of waiting for work to be done, Krakoviak said any progress DGP makes is a welcome sight.
“Given the construction that’s moving ahead, DGP is doing a much better job in a few months than Prism did in nearly a decade,” Krakoviak told the Chronicle in a July 11 email.
But Krakoviak is not entirely satisfied. He said the council has not received any of the Phase 1 progress reports that the redevelopment agreement calls for “in such detail and at such times as may reasonably be requested by the township.” According to the agreement, these reports should include “a description of activities completed, milestones achieved, status of the Phase 1 project with respect to the construction schedule, activities to be undertaken prior to the next regularly scheduled progress report and any unanticipated problems or delays and the explanation therefor.”
Additionally, Krakoviak said there have been no progress meetings with DGP representatives, which is also mentioned in the redevelopment agreement. Though the councilman said he is “cautiously optimistic” that the project will be completed by its deadline, he would still like to receive periodic updates through such reports or meetings. He said he asked the township administration about this, but has not yet received a response.
Cirilo said he would also appreciate receiving quarterly progress reports so that the council can keep abreast of all project happenings. In the meantime, he said it is the council’s responsibility to prepare the bonds so that the township will be ready to release them at the appropriate time. The council president said the $6.3 million will not come into play until work begins on the exterior infrastructure, such as the utilities and sidewalks.
Michael Sherman, general counsel for Dune, did not respond to request for comment before press time July 12.
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