In Franklin Lakes, The Hekemian Group has contracted with Cigna Healthcare to acquire the largest developable land parcel in highly attractive Bergen County for the creation of a dynamic, mixed-use neighborhood.

The site consists of 96 acres, with a series of older buildings totaling 650,000 SF that was originally built for IBM in 1970. The campus (located within one of America’s wealthiest towns) was originally designed for “single tenant” real estate, which no longer makes sense in today’s environment. Instead, we worked with the borough collaboratively over the course of a year to come to agreement on a plan that integrates the natural surroundings and re-envisions this unique site for the future.

As a result, the borough voted to change zoning to the following:

• 495 multi-family units, which can either be rentals or townhouses, with 12.5% affordable set aside
• 70,000 SF of retail commercial space
• Land to be provided to the borough, on which they can build 71 affordable units
• A trail network that adds to the existing trails in the NW corner of the site, preserving 18 acres of open space

What we’re most excited about is that the site is a natural oasis — a place of visual and mental solitude hiding among the chaos of a sprawling suburb. We plan to create an extremely upscale neighborhood with planning and architectural design that is innovative not just for the local area, but for all of New Jersey.