Township zoning board approved redevelopment plans for 62 of 110 acres.
BRIDGEWATER -- The township Zoning Board of Adjustment has approved redevelopment plans for 62 of the 110 acres at the New Jersey Center of Excellence, clearing the way for the project to move forward, Advance Realty announced Thursday.
The former Sanofi campus will become a mixed-use property. (Advance Reality)Advance, in partnership with CrossHarbor Capital Partners, purchased the property from Sanofi in 2014 when the global pharmaceutical giant relocated its research and development arm to the Boston area.
That the property housed a state-of-the-art laboratory environment in the heart of an internationally recognized life sciences corridor made it attractive to Advance Reality, the company stated in a news release.
Advance Reality has decided to expand the property and created a holistic mixed-use community that could attract titans in the pharmaceutical industry.
The master plan includes 400 luxury residences, restaurants, a wellness center, a grocery store, entertainment, shops and outdoor recreation, according to the release.
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"Advance Realty and Bridgewater Township have a shared vision to create an interconnected community of residents, workers, visitors and globally-recognized leaders in life sciences, hospitality and retail at the New Jersey Center of Excellence," Peter J. Cocoziello, Advance Realty's founder and chief executive officer, said. "Doing so will open new channels for economic growth for the state of New Jersey."
In October, Nestle Health Science announced that it would relocate and bring more than 250 jobs to the site, leasing a 180,000-square-foot space.
With the additions of Nestle and biopharma start-up Nevakar, which recently leased 26,497 square feet, the New Jersey Center of Excellence is now more than 70 percent occupied, according to the release.
Other tenants include Ashland, Amneal Pharmaceuticals, 3D Biotech, Union Med Tech, Clinical Genomics, GSG Scientific, Enterix, Solaris Pharma and Matinas BioPharma.
Pending site plan approval, Advance plans to remove eight unused buildings this fall in order to begin construction on the town center, which will take roughly two years.
"We're going to take what was an insular, single-tenant corporate campus and transform it into a central point for gathering, innovating, living and having fun," Cocoziello said. "It's a project that will change the face of New Jersey, and we are excited to move forward."
Dave Hutchinson may be reached at dhutchinson@njadvancemedia.com. Follow him on Twitter @DHutch_SL. Find NJ.com on Facebook.