Approaching the four-year anniversary of its acquisition, Wells Fargo approached the ULI Northern New Jersey District Council to convene a Technical Assistance Panel (“TAP”) to evaluate the property and to formulate innovate recommendations as to how best to reposition it for adaptive reuse given current local market conditions.
The MCCC TAP convened on March 27 and 28, 2014 to tour the building, meet with community leaders and interested parties, and to develop a strategy to repurpose what was described by one stakeholder as “an isolated monolith, a fortress on the hill.” The panel was chaired by former ULI-NNJ Chair Lawrence F. Jacobs, a shareholder in the law firm of Wilentz, Goldman & Spitzer, PA, and co-chair of the firm’s Environmental and
Land Use team. Aided by Jerry Boomer, who has managed the property since it was occupied by BASF, the panel drew on its extensive experience in urban redevelopment and adaptive reuse. Peter Ziblatt, who has managed for Wells Fargo since its 2010 acquisition, provided valuable insight into the site’s history and the sponsor’s objectives for the TAP.
Report has been published and made available.
ULI NNJ TAP REPORT