■ Redevelopment
■ Redevelopment
Continued From Page 28 to LEED specifications ( a must for the bank ) and features floor-to-ceiling windows and three outdoor terraces . The ground floor , originally intended to house a Valley branch , will instead be donated for use by the non-profit Ethan and The Bean . Marking its second retail outlet , the organization will operate a coffee and gift shop employing persons with intellectual and developmental disabilities .
“ We decided we wanted the lobby space to be used by the community ,” notes Thomas Iandanza , President of Valley National Bank , adding that “ We found Ethan and the Bean , a nonprofit started by a woman with an autistic son . We decided giving back was a better use for the space ,” he says .
About 440 full-time employees will be relocating to Morristown from the former Wayne headquarters , with the balance transferring to an existing operations center on Rt . 23 in Wayne . Iandanza expects that the relocation should be complete by mid-September .
The bank had been searching for a new headquarters location that better reflected the amenities needed for business today . “ Wayne is a great city , but our location didn ’ t create a vibrancy that the largest New Jersey-based bank should have ,” Iandanza notes , adding that the cost of renovating the existing building outstripped the cost of relocating . His team explored several destinations , taking into account client proximity , employee commuting , and overall amenities available .
“ Morristown is a vibrant area with shops and green spaces available without getting in a car . It just made a lot of sense to us . Plus , the train station makes it easy for our NYC-based employees to commute to the headquarters offices ,” he said .
“ It is a beautiful space . We wanted [ to be in ] a downtown area . We hire a lot of young professionals right out of college . They want to be near an urban area . They get excited to be able to be near the amenities and lifestyle the city offers . The move will absolutely help in our recruitment . Also , the Morristown location lets us be the only large bank anchored in the community .”
President Iandanza is quick to praise the town officials and local businesses for making the transition as smooth and timely as possible . “ The community really embraced and welcomed us , both the political community and the business community .”
M Station : Bringing Corporate Business to The City
Another major redevelopment project , also a partnership with SJP Properties and Scotto Properties , is the M Station project . Beginning in 2019 , construction crews removed a strip mall and several other structures on Morris Street to make way for a massive complex featuring 375,000 feet of office and retail space across two buildings , as well as a large parking structure situated within a block of the Morristown train station .
The first tenant , global accounting firm Deloitte , began moving employees from a Parsippany office in July of 2022 into a new 110,000-square-foot office . The remaining 10,000 square feet on the ground floor is reserved for retail opportunities . A second structure of approximately 200,000 square feet broke ground in May of this year with anticipated completion in late 2024 . Once completed , pharmaceutical giant Sanofi will begin transferring approximately 1,900 employees from various other New Jersey locations to Morristown .
Residential Upgrades Make Their Mark
Together with commercial redevelopment , the transformation of Morristown ’ s residential space has also been a work in progress .
In March , Max on Morris , an 85-unit luxury residential community was christened on 175 Morris Avenue . Featuring robust amenities such as 17 EV charging stations , bike racks , and BBQ grills as well as in-unit washers / dryers . Project developer The Hampshire Companies even included 14 residences for persons with special needs . James E . Hanson , President & CEO of The Hampshire Companies described the Max on Morris as a residence “ Built around how everyone lives , works , and plays today .”
Affordable Housing is Also Getting a Makeover
In May of this year , the NJEDA approved tax credits to the city-owned Manahan Village on Flagler Street . under the State ’ s Aspire Program , an economic development program created under the New Jersey Economic Recovery Act of 2020 . Encompassing several properties on the street , the project will transform 200 existing units of affordable housing that were originally built in the 1940s . Leaseholder OAHS Manahan Village LLC is approved for Aspire tax credits of up to 35.21 percent , or $ 24.6 million . The project will cost approximately $ 70 million .
Conclusion
A booming Morristown creates positive synergy , according to The County College of Morris ’ Dr . Iacona . “ For example , Atlantic Health ’ s Morristown Medical Center is constantly expanding . As a result , we currently provide about half of the nursing staff .” Dr . Iacona says , adding that “ Local restaurants are also hiring our students for various positions , from waitstaff to management and chef positions ,” he says . To address increasing demand from the business community , the school is breaking ground on a new , 10,000-square-foot Entrepreneurship and Culinary Science Center .
“ Morristown is a perfect little city . You have a nationally-recognized medical facility , worldclass restaurants one after the other , and an amazing theatre [ Mayo Performing Arts Center ] that brings extraordinary national arts and entertainment ; what on earth is there not to love about it ?” Dr . Iacona concludes .
Morristown Restaurants and Eateries
1776 on the Green 67 East Park Place 973-829-1776
A Legna Wood Fired Pizza 47 South Park Place 973 998-0415
Asahi Sushi 65 Morris Street 973 631-8585
Bistro 46 12 Elm Street 973 302-6727
Central Taqueria 61 South Street 973 206-1414
Chef Fredy ’ s Table 78 Speedwell Avenue 973 538-3330
The Committed Pig 28 West Park Place 862-260-9292
Coniglio ’ s Old Fashioned 11 South Street 973 543-9144
Dublin Pub 4 Pine Street 973 538-1999
Effin Egg 30 Morris Street 973 944 – 2849
End of Elm 140 Morris Street 973 998-4534
ESO Artisanal Pasta 92A Elm Street 973 520-1546
Fig and Lily Garden 2 Cattano Avenue 973 539-3999
The Frog Restaurant and Sports Bar 18 Washington Street 973 540-9601
The Godfather of Morristown 10 Lafayette Avenue 973 260-9500
The Grand Café 42 Washington Place 973 540-9444
Grilled Cheese at the Melt Factory 28 Morris Street 973 998-8588
Guerriero Gelato 64 South Street 201 345-1806
Hummus Republic 66 South Street 973 590-2713
Jockey Hollow Bar & Restaurant 110 South Street 973 644-3180
Ju-Ichi Japanese Restaurant 29 Washington Street 973-888-9393
Luna Café 20 South Street 973 998-0404
Malay Morristown 147 Morris Street 973 538-3322
Marjan Fine Persian Grill 84 Speedwell Avenue 973 889-8884
Mediterranean Grill 119 Morris Street 973 539-5878
Millie ’ s Old World Meatballs and Pizza 60 South Street 973-267-4992
Morristown Diner 73 Morris Street 973 538-0228
NOM Mexican Table + Tequila Bar 67 Morris Street 973 267-4700
Origin Thai 2 10 South Street 973 971-9933
Pierogies House 145 Morris Street 973 432-8270
Portofino ’ s 29 Mills Street 973 540-0026
Playa Bowl 14 North Park Place 973 267-1777
Raul ’ s Empanadas Town 63 Morris Street 973 285-5555
Rinconcito Latino 94 Elm Street 973 270-0121
Sandi ’ s Soulbites 255 Speedwell Avenue 862 242-8088
Saigon Subs & Café 98 Elm Street ( 973 ) 267-9888
South & Pine American Eatery 90 South Street 862-260-9700
Sushi Lounge 12 Schuyler Place 973 539-1135
The Office Tavern & Grill 3 South Street 973 285-0220
Town Bar + Kitchen 80 Elm Street 973 889-8696
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