NUTLEY, NJ - Eugene Diaz of Prism announced that Ralph Lauren signed the lease for a building at On3. The announcement was made at the July 3 Nutley Board of Commissioners Meeting.
Ralph Lauren is expected to create 225 jobs in Nutley. The company will occupy 225,000 sq. feet of an existing building.
In November of 2017, the New Jersey Economic Development Authority approved Grow New Jersey Assistance Program Grants for Ralph Lauren to make a capital investments and locate in Prism Capital's On3 redevelopment project of the former Hoffman-La Roche campus.
Ralph Lauren is to receive a 10 year $33.1 million dollar Grow New Jersey award. The project location in Nutley qualifies as a Distressed Municipality, under N.J.S.A. 34:1B -242 et seq and the program’s rules, N.J.A.C. 19:31-18. Before Roche's departure, the company was the largest taxpayer in the township. Ralph Lauren is expected to occupy the space in late 2019 or early 2020 according to the presentation at the July 3 BOC meeting.
Ralph Lauren, named for its founder of the same name, is an American corporation known for the clothing, home furnishings, and fragrances. Ralph Lauren will occupy the building directly left of the Kingsland St. entrance.
On3 is already home to bio-manufacturer Modern Meadow, Hackensack Meridian Medical School at Seton Hall University welcomes the first group of students on July 9.
More details about the July 3 Board of Commissioners meeting will be shared in a later report about that meeting.