Morristown-based The Hampshire Cos., along with its joint venture partner, Pinnacle Cos., announced Monday they have received approval to move forward with their redevelopment plan for Montclair’s Lackawanna Plaza.
The 216,772-square-foot, mixed-use redevelopment plan will turn the property into modern retail, office and residential spaces while preserving the historic elements of the century-old building, the developers said. Construction is slated for later this year.
“It is rare for a developer to be given a chance to breathe a second life into a site that holds such a special place in a town’s history. We would like to thank Mayor Jackson and Montclair’s municipal leadership for their collaboration and consultation in helping us craft a plan that will truly respond to the needs of the surrounding community,” Robert T. Schmitt, principal at The Hampshire Cos., said. “We look forward to executing our redevelopment plan for Lackawanna Plaza to bring valuable community amenities and rateables to Montclair while preserving the aspects of the site that have made it so important to Montclair for over a century.”
The site will be anchored by a new, 28,509-square-foot Lidl grocery store on Bloomfield Avenue, the developers said. In addition to that, the plan calls for 35,714 square feet of retail space and 21,032 square feet of office space. Also, a 153-unit mixed-use residential building is planned for the east side of the site along Grove Street.
“For many years, Hampshire has adhered to an organizational focus on creating projects that bring sustainable, transformative change to local communities. We have long understood that a truly successful real estate investment is not reflected solely on balance sheets but how it responds to the needs of the community and those living within it. Our investment in Montclair is emblematic of this focus and will help bring important spaces to one of New Jersey’s most dynamic towns,” James E. Hanson II, CEO and president of The Hampshire Cos., said.