Thatcher

Experience

New construction 60,000 s.f. industrial warehouse built for best in class end tenants, ABC Supply Company, a national construction supply company with 700+ locations nationwide and first headquarters in the USA of an international cheese company. The largest transformative development in the City of East Orange in 40 years, this project is the first phase of an 8-acre brownfield site acquired from the City of East Orange. This project created 90 new permanent jobs, over two hundred construction jobs and a 2000 s.f urban farm. The remediation of this site made possible the creation of 75 new quality affordable housing units. this project was completed in December 2018.

Relationships

• Site acquisition from the City of East Orange within five months
• PILOT and Redevelopment Agreement with the City of East Orange
• 8.5MM NMTC allocation
• NMTC Investor and Leveraged Loan
• Partnership with Greater Newark Conservancy to operate urban farm

Project management

• Preliminary and final Planning Board approvals within six months
• Environmental Clean Up of blighted site
• Construction completion within eight monthss
• Project Team selection
• Superior risk adjusted returns with use of state and municipal subsidies