PRESS RELEASE: Prism’s Parkway Lofts Adaptive Reuse Nearing Completion

BLOOMFIELD, NJ – With the delivery of the first apartments at Parkway Lofts anticipated this fall, Prism Capital Partners, LLC has retained its marketing team for this benchmark industrial-to-residential adaptive reuse project in Bloomfield. The Prism construction team is putting the finishing touches on common areas and apartments throughout the property, including four model residences that will be available for tours when the Parkway Lofts onsite leasing office opens.
The General Electric Company in 1897 built the landmark, six-story warehouse that Prism has redeveloped into 365 loft-style apartments catering to the demand for fully amenitized, mass transit-accessible rental housing. Industrial design elements such as new, 13-foot-high historical replica windows and other original architectural features – including exposed concrete columns and cylindrical duct work – highlight the design.  
Prism has appointed The Marketing Directors as the on-site leasing agency for Parkway Lofts. New World Group is serving as advertising lead, and Caryl Communications, Prism’s long-time public relations partner, is heading media relations for the project.
“We created a truly distinctive property from what was an obsolete industrial site, and we have hired an outstanding group of professionals to bring the residences at Parkway Lofts to market,” noted Prism’s Edwin Cohen, principal partner. “This project has been more than six years in the making. We look forward to introducing this new lifestyle choice to Northern New Jersey renters looking for a place they will be proud to call ‘home.’”
Tenant amenities at the gated Parkway Lofts community include a two-level fitness center, 20-seat screening theater, roof-top deck and billiard/party room, as well as a dog-run across from the property. The building is Wi-Fi pre-wired. In addition to unit private laundry facilities, residents will have access to larger commercial-style laundry rooms and individual storage lockers on each floor. A 2.5-story parking garage and additional under-building and surface parking ensure ample vehicle accommodations. Additionally, NJ Transit’s Watsessing Avenue Rail Station is located less than 100 yards from the development. 
Prism will begin construction for Phase II – which will include 170 for-sale townhomes, a clubhouse and additional lifestyle amenities – by year-end 2013. “Upon completion, Parkway Lofts will be a vibrant, high-density residential village,” noted Prism’s Eugene Diaz, principal partner. “This project reflects the potential of infill redevelopment in New Jersey. We are proud to be part of the growing adaptive reuse movement, which is working to preserve the state’s history while setting the stage for its future.”
TAGS: Development