Hampshire, Pinnacle get OK for Montclair plaza redevelopment

TRD New York /
Apr.April 02, 2019 03:19 PM

The 216,772-square-foot Lackawanna Plaza in Montclair received final municipal approvals for redevelopment this week, as announced by joint venture partners the Hampshire Companies and Pinnacle Companies. With construction already slated to begin later this year, both companies have agreed to reposition the plaza into a mixed-use complex with residential and retail components, as well as office space, according to ROI-NJ. The outlet noted that Lidl, a German supermarket chain, will anchor the development with a 28,509-square-foot grocery store. The overall redevelopment plan calls for an additional 35,714 square feet of retail, 21,032 square feet of office space and 153 residential units. Hampshire, a Morristown-based developer, said the project will involve the preservation of significant portions of the plaza, which was built in 1913. Hampshire and Pinnacle are partnering on two other projects in Montclair, where various redevelopment projects are transforming the face of the Essex County township. Both companies are slated to open the 159-room MC Hotel this spring and are currently overseeing the development of a 45,735-square-foot medical office building preleased by Hackensack Meridian Health. In a statement, Hampshire executive Robert Schmitt said the redevelopment of Lackawanna Plaza is “a chance to breathe a second life into a site that holds such a special place in a town’s history… while preserving the aspects of the site that have made it so important to Montclair for over a century.” [ROI-NJ]


Related Articles

arrow_forward_ios
New Jersey Gov. Phil Murphy, New York Gov. Andrew Cuomo and Connecticut Gov. Ned Lamont (Credit: Murphy by Bennett Raglin/Getty Images for Montclair Film; Cuomo by Spencer Platt/Getty Images; Lamont by Bonnie Biess/Getty Images for SiriusXM)

Cuomo joins forces with Connecticut, NJ governors to combat coronavirus

Cuomo joins forces with Connecticut, NJ governors to combat coronavirus
Lucy the Elephant is for rent (Credit: iStock)

New Jersey’s most famous zoomorphic attraction is up for rent on Airbnb

New Jersey’s most famous zoomorphic attraction is up for rent on Airbnb
An aerial view and a rendering of The Element at 400 Claremont Avenue (Credit: Google Maps)

Jersey City mixed-use project lands $120M in financing

Jersey City mixed-use project lands $120M in financing
Meadowlands Arena (Credit: Google Maps and iStock)

NBC spends $750K to transform arena in New Jersey swamp

NBC spends $750K to transform arena in New Jersey swamp
Triplemint’s David Walker and John Scipione with Hoboken, New Jersey (Credit: iStock)

Triplemint expands to New Jersey

Triplemint expands to New Jersey
Thor's Joseph Sitt and the New Jersey Center of Excellence

Thor is breaking into the life sciences industry

Thor is breaking into the life sciences industry
Before demolition. the historic home at 44 Pleasant Avenue was on the market for $10 (Credit: Montclair Township, iStock)

A home listed for 10 dollars, but no one wanted it

A home listed for 10 dollars, but no one wanted it
Mack-Cali sells Paramus office property, Murphy enacts land bank reforms & more North Jersey real estate news

Mack-Cali sells Paramus office property, Murphy enacts land bank reforms & more North Jersey real estate news

Mack-Cali sells Paramus office property, Murphy enacts land bank reforms & more North Jersey real estate news
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...