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NEW BRUNSWICK, NJ—The New Brunswick Development Corporation (DEVCO) has released a new name and potential design for a massive redevelopment to replace the Ferren Mall and parking deck, dubbed "The Hub @ New Brunswick Station."
The developer, which is working with current property owner New Brunswick Parking Authority, confirmed they also struck a deal with real estate developer and investment manager Jones Lang LaSalle (JLL).
JLL has more than 200 offices worldwide, including four in New Jersey, located in Iselin, Parsippany, East Rutherford, and Cherry Hill.
The DEVCO-JLL deal had been struck some time ago, though it was first advertised in the recent PolitickerNJ Top 100 Power List, which also included the first appearance of the new design.
JLL would serve as a broker for the Ferren site, and market the site to potential tenants, according to DEVCO President Chis Paladino.
Two JLL representatives are brokering the project, Daniel J. Loughlin and Peter A. Ladas. Loughlin is related to New Brunswick's longtime Business Administrator, Thomas Loughlin, and is the city's highest-paid employee.
Thomas Loughlin was appointed by Mayor James Cahill to the position since 1993, and he was also put in charge of the city's Water Utility for over five years, during a time when water quality violations were covered up and falsified reports were submitted to state regulators.
Ferren Mall has been officially closed for several months, with the last businesses moving out at the end of June of this year.
The new design would feature of cluster of futuristic low and highrise buildings.
However, the design contrasts with the 60's-style architecture featured in a post on DEVCO's Facebook page in June, and published in the Wall Street Journal.
Concerns were raised over the impact the development could have on a block of low-rise buildings on Paterson Street, including many law offices, Clydz martini bar and the Onyx barber shop.
Like previous designs, this new one does not make it clear whether the block of buildings still remain along Paterson Street.
For now, the massive former parking deck has been fenced off, and is slated for demolition.
Parking Authority officials had previously said they hoped to demolish the deck by the end of the year, but they acknolwedged it would take several months. Demolition has not yet begun on the massive site.
"We are currently preparing all the engineering specs necessary to bid the demolition package," Paladino said.
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