PATERSON, NJ – Fully integrated real estate development, construction, and management company Blue Onyx Companies has started work on its adaptive reuse project 24 + Half in Paterson, NJ.
The two-acre site is located at Van Houten St. 24-1 / 2 on the Passaic River in the historic Old Great Falls neighborhood. The property is on the National Historic Register.
The project's five-year master plan is to convert the property's seven former mills and warehouses into an updated work / living / play environment and community center. The redevelopment will include 19,000 square meters of residential, commercial, dining and other space.
The project includes co-working spaces and shared infrastructure to support entrepreneurs, creatives and start-ups, a range of new living spaces, a distillery / beer garden and a river path that connects the Great Falls with Bridge Drive of Memorial Drive. On-site amenities for the project include a fitness center, dining room, community theater / event space, public meeting rooms, and spaces for private and business events.
The first phase of the project includes the 12,230-square-foot Paterson Beach area with sand, furniture, food trucks and activities. Blue Onyx launches Paterson Beach on September 10th.
Blue Onyx acquired the site in December 2019 and the company's plans are currently going through the required approval channels for city planners, conservation committees and the National Park Service.
“Blue Onyx aims to have a strong and positive impact on today's urban landscape by investing in and developing transformative real estate projects. As soon as we saw this property, we saw its potential as a vibrant mixed use community, ”said Levi Kelman, CEO of Blue Onyx. "We are excited to create a catalyst for renewal in this historic neighborhood that celebrates Paterson's entrepreneurial past and looks forward to a sustainable future."
In designing the commercial, private and public spaces of the project, the company entered into a partnership with the global architecture firm HWKN.
"I believe 24 + Half will generate interest in what Paterson can do with businesses, investors, and developers as there are many incentives for companies to move into the Urban Enterprise Zone, Opportunity Zone, and Smart Growth Coalition programs," Kelman said .
"I believe 24½ Van Houten is a strategic location for unbridled potential," said Mayor Andre Sayegh. "The 24 + Half Project will help us advance Paterson's advancement and improve the quality of life for its residents as we develop and revitalize the Great Falls National Park area."
The property is located two blocks from downtown Paterson, near Passaic County Community College, Berkeley College, and William Paterson University. It is also in close proximity to routes 1-80, 95 and 19.
24 + half rendering