Occupancy Milestone Reached at The Residences at Edison Lofts, West Orange

The Residences At Edison Lofts Exterior West Orange Nj
The Residences at Edison Lofts in West Orange, N.J. Photo courtesy Caryl Communications.

Prism Capital Partners (Prism) recently announced that The Residences at Edison Lofts had reached the milestone of 95% occupancy.

The Residences at Edison Lofts, located in West Orange, New Jersey, is part of Prism’s industrial-to-multi-family-and-retail redevelopment of the historic Thomas Edison Invention Factory and Commerce Center on Main Street.

The Residences at Edison Lofts is a rental community that features 300 homes in the historic structure, ranging from studio to three-bedroom residences. The Mews at Edison Lofts, constructed from the ground up, contains another 34 homes. In addition to the residential units and their amenities, Edison Lofts also encompasses a 630-space parking structure and 18,400 square feet of retail space.

“Edison Lofts has drawn interest from residents of all ages and a wide geographic area; its lease-up is an exciting and meaningful milestone,” said Prism’s Edwin Cohen, principal partner. “We are incredibly proud of what we have accomplished here. Edison Lofts is a true preservation of this New Jersey landmark, one that brings a once-blighted section of downtown into modern times and sets the stage for its future progress as a dynamic community.”

Prism was named as the chosen redeveloper for the 21-acre Edison Village site in December 2006 by The Township of West Orange. A substantial amount of demolition and site work was completed in 2008, with site plan approval for Phase 1 — Edison Lofts –obtained in late 2012. Construction financing was secured in 2016 and the initial residents moved into Edison Lofts during summer 2018.

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