NEW JERSEY—The Township of Holmdel has named Somersetthe real estate developer to redevelop the former Bell Laboratories in Holmdel, N.J., comprised of approximately 2 million sq. ft. of space plus 473 acres surrounding the facility.
Somerset has spent several years working with the community in Holmdel and Township officials to create a comprehensive plan for the redevelopment of the Bell Labs building. The company aims to update the structure to a mixed-use town center for the neighborhood.
Somerset’s plan includes creating a pedestrian-friendly public promenade space, as well as a mix of retail shopping and dining options, the potential for health and wellness center, skilled nursing facility,and conference center, educational facilities, upscale spa and public facilities.
In addition, the approved plan allows for residential, recreational and open space uses outside the building, including the development of single-family homes and 185 age-restricted townhomes, as well as a field house for sports and a golf course.
“Today’s announcement follows more than four years of collaborative efforts by the Township, the public in Holmdel and Somerset Development to identify a solution for the future of this significant property that will contribute to the preservation of our Township’s exceptional quality of life,” said Holmdel Mayor Patrick Impreveduto.
Designed by architect Eero Saarinen, the former Bell Labs research complex was originally constructed between 1959 and 1962 and since that time has expanded. Somerset is currently under contract with Alcatel-Lucent to purchase the site.