The former Hoffmann-La Roche campus on the border of Clifton and Nutley is being redeveloped by Prism Capital Partners.
Developer seeks to create “mini-metropolis in the suburbs” with gathering of life sciences businesses.
The former Hoffmann-La Roche campus that borders Clifton and Nutley has a new name.
“On3” seeks to incorporate living, working and playing in the Route 3 site, according to Prism Capital Partners’ principal Eugene Diaz. He described the redevelopment as “a mini-metropolis in the suburbs.”
The firm wants to reinvent the 116-acre campus that the pharmaceutical giant began vacating in 2012, creating a synergy among like-minded businesses geared toward life sciences. It also wants to bring jobs to an area that sustained a severe blow in the loss of Roche, which employed 8,000 to 10,000 in its heyday in the late 20th century, he said.
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The flagship project for the campus is a medical school that is a joint plan of Hackensack University Medical Center and Seton Hall University, and would be the state’s first private medical school in 50 years.
The New Jersey Economic Development Authority has approved $16.9 million in tax credits to launch the school, expected to open in the autumn of 2018.
In discussing the formation of a bio sciences campus, Diaz cited Silicon Valley and Cambridge, Mass., where such…
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