WESTFIELD, N.J. — A partnership between Hudson Bay Co. (HBC) and StreetWorks Development, the company’s property development division, has unveiled plans for a mixed-use redevelopment project in Westfield, roughly 22 miles west of New York City.
The developer plans to convert a 731,000-square-foot building previously occupied by a Lord & Taylor department store, as well as several town-owned parcels, into One Westfield Place, a transit-served development with an array of uses and pedestrian features.
One Westfield Place will host a variety of events in its public gathering spaces throughout the year.
Preliminary plans call for 310,000 square feet of office space across two buildings; 27,000 square feet of retail and restaurant space throughout the development; 154 age-restricted apartments and townhomes; 69 market-rate apartments; an unspecified amount of affordable housing in accordance with local and state requirements; and two parking garages that can accommodate over 450 cars.
The development team also plans to revitalize the downtown area with pocket parks, event spaces, water features and a mobility hub connecting the two sides of the train station that offers storage, bike stations and ride sharing areas.
The joint venture will collaborate with Dan Biederman — president of Biederman Redevelopment Ventures, which runs the programs in New York City’s Bryant Park — to develop a plan to strategically program events and activities in the development’s public spaces and gathering areas.
In terms of timelines, the development team is soliciting public input for the project and will submit plans for approval to the Westfield Town Council in the coming months.
The development team estimates that the planned project would generate $200 million in additional revenue over the next 30 years and create 2,900 construction jobs and 1,700 permanent jobs.
New York City-based HBC is the majority owner of Saks Fifth Avenue and Saks OFF 5TH, alongside a real estate portfolio spanning 40 million square feet.
—Taylor Williams and Katie Sloan