FOR IMMEDIATE RELEASE JANUARY 21, 2014

TODAY THE TOWNSHIP OF NUTLEY AND THE CITY OF CLIFTON RELEASED TO THE PUBLIC THE FINAL
REPORT OF THEIR CONSULTANTS, PERKINS EASTMAN AND THE REAL ESTATE SOLUTIONS GROUP.
THE REPORT IS ESSENTIALLY A CONCEPTUAL PLAN TO REPURPOSE THE HOFFMANN LAROCHE
PROPERTY WITH DIFFERENT POTENTIAL REDEVELOPMENT OPTIONS. ALTHOUGH NO DEFINITIVE PLAN
OR CONCEPT HAS BEEN AGREED TO OR ACCEPTED BY CLIFTON OR NUTLEY, THE OBJECTIVE IS TO
WORK WITH HOFFMANN LAROCHE, AND ANY FUTURE BUYER OR DEVELOPER OF THE PROPERTY, TO
REPURPOSE THE SITE IN A WAY THAT MAXIMIZES TAX REVENUES AND LOCAL PROPERTY VAUES.
BOTH MUNICIPALITIES SEEK A PLAN THAT HAS A POSITIVE EFFECT ON THE QUALITY OF LIFE OF THEIR
RESIDENTS, SUPPORTS BUSINESS DEVELOPMENT, AND CREATES HIGH PAYING JOBS, WHILE AT THE
SAME TIME MANAGES ANY IMPACT ON THE LOCAL SCHOOL SYSTEM AND MUNICIPAL
INFRASTRUCTURE.

CLIFTON AND NUTLEY LOOK FORWARD TO WORKING EXPEDITIOUSLY WITH HOFFMANN LAROCHE
AND A FUTURE DEVELOPER TO REPURPOSE THE PROPERTY THAT CONSISTS OF OVER 100 ACRES
BORDERING THE TWO COMMUNITIES.

For information contact:
Nutley: Alan Genitempo 973-661-0710
Clifton: Matt Priore 973-470-0700



EB{
EE&K a Perkins Eastman company
January 9, 2014
Alphonse Petracco
Mayor
Township of Nutley
228 Chestnut Street
Nutley, NJ 07110
James Anzaldi
Mayor
City of Clifton
Clifton City Hall
900 Clifton Avenue
Clifton, NJ 07013
Re: Project Name: Nutley-Clifton Hoffmann-La Roche Campus
Project Number: 53240.00
Summary of Work Completed by Perkins-Eastman-RESGroup
The consultants were hired jointly by Nutley and Clifton to analyze the options for potential
redevelopment of the vacated Roche site to enable the towns to prepare for the re-
purposing of the site. Market analysis was completed to understand the potential for re-
use, the amount of time it would take to fully redevelop the site, and the potential economic
impact on each community.
After careful consideration, three redevelopment schemes were developed with Clifton and
Nutley representatives that contained a mix of potential uses suitable to both communities.
For the most part, uses included re-use and newly constructed R&D lab space; re-use and
newly constructed office space, light industrial use ranging from data centers to warehouse
and light manufacturing, hotel; high end residential, senior living and neighborhood retail.
A traffic analysis, assessing the effect of proposed development concluded that the increase
in traffic generated would be no greater than traffic as it existed during Roche's peak years.
The traffic report contained recommendations, strategies and the estimated costs for the
proposed improvements to support the minor level of impact that was identified in the
study.
The officials from the two towns agreed upon criteria to guide the selection of a preferred
redevelopment scheme, which would provide a basis for rezoning. Criteria included items
such as facilitating early-on and final completion of development, maximizing the potential
for private reuse of the existing commercial buildings, minimizing negative impacts on
existing retail, adapting to future market demand, minimizing traffic impacts and the impact
on public schools. In addition, there were criteria relating to generation of tax ratables and
creation of jobs.
While each of the three scenarios varied in the estimated timeframes for completion of full
redevelopment (e.g. 15-25 years plus, all were projected to eventually provide higher real
estate tax revenue and more job creation than when the site was occupied by Roche. The
study found that as many as 13,000 to 18,000 jobs could be created by the three schemes,
which is far more than the peak employment at Roche of 8,500. Real estate taxes upon the
NORTH AMERICA
BOSTON, MA
CHARLOTTE, NC
CHICAGO,IL
NEW YORK, NY
PITTSBURGH, PA
SAN FRANCISCO, CA
STAMFORD, CT
TORONTO, ON
WASHINGTON, DC
SOUTH AMERICA
GUAYAQUIL, ECU
ASIA
MUMBAI,IND
SHANGHAI, PRC
MIDDlE EAST
DUBAI, UAE
PERKINS EASTMAN ARCHITECTS, PC
115 FIFTH AVENUE
NEW YORK, NY 10003
T 212.353.7200
F 212.353.7676
WWW.EEKARCHITECTS.COM

EEl {
EE&K c Perkins Eastman company
completion of development could reach over $10 million, dependi ng upon success of the
project and the mix of uses allowed.
The next step is for the towns to build upon the information provided by thi s report and
prepare to existing zoni ng regulations Ihot wi ll allow and encourage the
desi red deve lopment specific to the Rcx:he site. The resulting zoning cha nges should reflect
the prefe rred development scenario thai the muniCIpalities determine is best for thei r needs.
A successful process should a ll ow a more expeditious approval process a nd hopefully,
minimi ze development delays thai hinder the ability of each municipality to replace lost tax
revenue. It is anti cipated that a developer will prepare thei r own design for repurposing the
site when purchasing the site from Roche. The redevelopment process by the redeveloper is
expected to begin in 2015.
The plans that foll ow provide on ill ustratio n of the types of uses and densities that
appea r suitable for redevelopment of the Roche campus.
Respectfull y submitted,

MingWu
AlA, Princi pal
EE&K A Perkins Eastman Company
Patricia Adell
Managing Part ner
RESGroup
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Joint Repurposing Committee January 17, 2014
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Site Access Opportunities
Maximize ingress and egress to support stand-alone
development parcels
Joint Repurposing Committee
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Slopes and Buffers
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Work with natural topographic and landscape features
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Development Zones
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Fi rst Avenue R. O.w. 5.4 de
= 1-' '--' LJ '--' U '-
Route-3--- - Buffer! Landsca pe! Slope 14.5 ae
Developable Area 96.4 ac -

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Buildings and Infrastructure of Value
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EXISTING BUILDING ARE A
#1 242,383 sf
#76 322,946 sf
#102 146,889 sf
#123 41 5,020sf
# l 23A 71 ,1895f
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Development & Design Principles
Develop
a "Place" ---a mix of
uses that sponsors a
community
Create
public gathering
spaces
Manage
storm water/surface
water run-off on site;
make this a
natural feature
Leverage
the existing high
value science and
office facilities for
repurposi ng
Plan
a walkable
community
Joint Repurposing Committee
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Attract
a younger work
force/ talent pool to
the site
Maximize
points of entry
to the site,
including a major
access point from
Bloomfield Avenue
Design
a fl exibl e plan that
accommodates
higher tax ratable
uses, a nd is
responsive to the
market
Bring
public bus
transportation
through the site
Make
First Avenue
the "Add ress"
and the hub of the
commu nity
Enhance
express commuter
bus servi ce from
the site/ Route 3
to NYC, Hoboken,
a nd Jersey City
January17,2014
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Creating the "Place"
Route 3
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Make First Avenue the "Address"
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First Avenue
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Scalar Overlay - Nutley - Franklin Avenue
N. Franklin Avenue
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Scalar Overlay - Clifton - Main Avenue
Main Avenue
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Joint Repurposing Committee
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Communi ty
Reueation
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Accessing the Site
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Decelerati on I accelerati on lane off Route 3
Joint Repurposing Committee
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Accessing the Site
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Major East-West Street accessing Bloomfield Ave.
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rn,ccing the Site
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Signalize Bloomfield Ave. intersection
Secondary entries from Kingsland SI.
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Parks and Spaces
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Create great neighborhood public spaces
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~ ~ h ~ o r h o o d Parks and Spaces
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Creat e great neighborhood publi c spaces
Introducti on of NJ Transit bus service
Joint Repurposing Committee
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Neighborhood Parks and Spaces
Joint Repurposing Committee
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Water Strategies
Route 3
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nllturfillow point ____ ____
Bring Springer Brook back to the surface
Manage stormwater runoff on-site
Establish a "green necklace" of
interconnected greenways
Joint Repurposing Committee
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Stream
. 1951
System In
Route 3
. Committee Joint Repurposlng m<
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Drainage Pipingjystem
Route 3
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" Conc;r,te Culvert
, Brook piped
, solid from Darling Ave .
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Springer Brook pipe .nd5
Clifton Valley Drain pipe continues
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Bringing back Springer Brook
Route 3
, ,
nalntroduc. Springer Bf"ook
to the 5urf .. ce
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Creating a "Green Necklace"
Route 3
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January17,2014
Work Completed to Date
Phase I
Kick-off / site visit / building & site assessment, base-line
infrastructure capabilities, environmental status
Identified client Redevelopment Criteria
Completed market overviews for insight into market demand
Developed 3 master plan options in response to the market overviews
and compared them to the Redevelopment Criteria
Completed Base-line traffic study
Phase II
Revised the 3 master plan options to meet municipality requirements
Estimated development density for each plan option (SF, # of stories,
& parking)
Obtained construction cost estimates from outside consultant
(Sordoni)
22
Work Completed to Date
Phase II (Continued)
Obtained market data to estimate revenue/sale prices, absorption,
and vacancy rates
Developed a financial pro forma to estimate sale price and timeline
for full occupancy of each option
Completed an economic impact analysis for each option
Estimated # of public school children from each plan option
Measured plan option against all Redevelopment Criteria identified
in Phase I
Provided a summary report
Met with SPOC to discuss findings
Met with the JRC to discuss the findings
23
Note
The Three Master Plan Scenarios presented represent a range of
prospective development possibilities that are generally acceptable
to the communities of Clifton and Nutley.
Because of the selective constraints identified by each community
none of these development scenarios reflect what current market
demands suggest. Specifically, the constraint restricting general
retail development along Route 3 and the constraint eliminating any
type of housing in Clifton and limiting housing in Nutley to age
restricted and high end condos development will eliminate a
portion of development potential.
The immediate result is that each of the development scenarios will
take longer to develop. How much longer is unknown and is
dependent upon future market conditions.
24
25
Scheme 1
C ~ ~ ~ L
Light
Industrial
Joint Repurposing Committee
+
Tech
Campus
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Campus
o 2fX1 400'
---
II
wellness center U \
medical offi ce '1::::...'-----
i outreach
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II
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Residential
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January17,2014
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Scheme 1 - Program
Joint Repurposing Committee
OVERAll PROGRAM
*Total
Lt. Industri al + Offi ce + BioTech
Ho tel (avq. 8O(I,f/key)
Residential ( .... g. lOOOsf/lowohoo,e)
Commercial ! Retail
*FAR
"Not .. : OVer.1I program may ""91' (,om 'pp'oxlm.tely
0.6 - 0.77 fAR (3.0 - 1.9 million "l. fl J
IB( ..... ......... _---.
3,884,000 GSF 100%
2,756,600 GSF 71.0%
160,000 GSF 4. 1%
752,400 GSF 19. 4%
215,000 GSF 5.S%
0.77
"
MIXED USE PROGRAM
Ught Industrial I 300, OOOGSF
Data Center
Production/ Distribution
Pharmaceutical
Office 839,600GSF
H 6 * 120 Existing Buildings 583,000 GSF
New Buildings 256,600 GSF
BioTech I R&Dl l ,617,QOOGSFJ
Existing Buildings 633,000 GSF
New Buildings 984.000 GSF
Total Office + BioTech 2, 456,600 GSF
Full Service Hotel
I
200 keys
Residential
I
613 units
Age-restricted Townhouses 21 unit s
6-B-story Hi gh-End Condos 484 unit s
Li velWork Over Retail

108 unit s
PARKI NG (required/ provided)
*Total 10,096
Li ght Industrial 1.lS/ 1.000sf 469
Office!Commercial S/l.000sf 4,198
BioTech / R&D 2/1.000sf 3,234
Hotel
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200
Residential 1.S/unl! 920
Commercial ! Retail S/l.000sf 1,075
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January17,2014

4.6%
4 1.6%
H . l %
2.0%
9.1%
10.6%
27
Scheme 1 Retail & Commercial, Schemes 2 & 4 Similar (There is no scheme 3)
PROGRAM
Wellness Center I
Medical Office
Hospital Outreach
First Avenue Retail I
150,000 GSF
2 floors
75,000 GSF
1 floor
80, 000 -
150,000 GSF

(req";"d/ pm,;ded)
Total (wlthWell nesl Ce nter) 1150 - 1,500
Wellness Center 5!1.ooosf 750
Fi rst Avenue Retail 5!1.ooosf 400 - 750
Total (with MedkalOffKe) 775 - 1, 125
Joint Repurposing Committee
IB( ..... ......... _---.
Medical Office 5!1.ooost 375
Fi rst Avenue Retai l 5!1.ooosf 400 - 750
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Scheme 2
C
wellness center
; I
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L-__ __ __ __ __ __ ____ __
Joint Repurposing Committee
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Scheme 2 - Program
Joint Repurposing Committee
PROGRAM TOTALS
*Total
Lt. Industrial + Offi ce + Bi oTech
Ho t el l""'l.soo,f/ key)
Residential (.vg. lOOO!I/lownoou"'i
CeRe (av<]. l100,f/Uolti
Commercial ! Retail
*FAR
"Not e: 0w,all p'ogrom m.y '"ng<' hom . pproxlm.tely
0.6 - 0.73 fAR (l.O - 4.0 million "I. It.)
IB( ..... ......... _---.
3,974, 250 GSF
100%
2,55 1,000 GSF
64.1 %
120,000 GSF
1.0%
723,600 GSF
18.1 %
364,650 GSF
9.1 %
215,000 GSF
5.4%
0.78 ..
MIXED USE PROGRAM
'"
light Industrial I 510,OOOGSF
Data Center
Producti on/ Di stri buti on
Pharmaceutical
Office 784,OOOGSF
*120 Exi sting Buildings 583,000 GS F
New Buildings 96,000 GS F
New Medi cal Offi ce 105,000 GS F
BioTech ( R&D
I
1,257,OOOGSF
Exi sting Buildings 633,000 GS F
New Buildings 6 24,000 GS F
Total Office + BioTech 2,041,OOOGSF
Select Service Hotel

1 SO keys
Residential 589 units
Age-restricted Townhouses
I
21units
6-8 story Hi gh-End Condos 484 unit s
Li velWork Over Retail

84 unit s
CCRC 332 unit s
KING (requi red/ provided)
"Total 9, 740
Li ght Industri al l.l5/ I .OOOs/ 732
Offi ce/ Commercial 5/ I.OOOs/ 3,920
Bi oTech ! R&D 1I1.000s/ 2,5 14
Hotel 150
Residenti al 884
CCRC 1.4/unl! 465
Commercia l ! Retail 5/ I.OOOs/ 1,075

7.5%
40.2%
25.8%
1.5%
9. 1%
4.7%
11 .2%
"Not .. : . 00 m""t p. rI; Ir.g oc:count /0, 'PPf{))[. 1656 ' poc ....
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Scheme4
C ) ~ ~ ~ L
Light
Industrial
+
Tech
Campus
Joint Repurposing Committee
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Campus
o 2fX1 400'
---
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wellness center
; I
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CCRC
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Scheme 4 - Program
Joint Repurposing Committee
PROGRAM TOTALS
*Total
Lt. Industrial + Offi ce + Bi oTech
Ho t el l""'l.soo,f/ key)
Residential (.vg. lOOO!I/lownoou"'i
CeRe (av<]. l100,f/Uoltl
Commercial ! Retail
*FAR
"Not e: 0w,all p'ogrom m.y '"ng<' hom . pproxlm.tely
0.6 - 0.74 fAR (l.O- 3.7 million "l. It.)
.. I . ---',
IB( ..... ......... _---.
3, 736, 200 GSF 100%
2, 10 1,600 GSF 56.1 %
80,000 GSF 2.1%
996,400 GSF 16.7%
34 3,200 GSF 9.1 %
215,000 GSF 5.8%
0.74
I.LJ.I .Ii
MIXED USE PROGRAM
..
light Industrial I S10,OOOGSF
Data Center
Producti on/ Di stri buti on
Pharmaceutical
Office S48,600GSF
* 120 Exi sting Buildings 260,000 GS F
New Buildings 183,600 GS F
New Medi cal Offi ce 105,000 GS F
BioTech ( R&D
I
1,043,000 GSF
Exi sting Buildings 633,000 GS F
New Buildings 41 0,000 GS F
Total Office + BioTech 1, S91,600GSF
Limited Service Hotel

100 keys
Residential 798 units
'"
Converted Condos 268 unit s
Age-restricted Townhouses 21 unit s
6-8 story Hi gh-End Condos/Rental s I 41 7 unit s
Li velWork Over Retail

92 unit s
CCRC 312 units
KING (requi red/ provided)
"Total 8, 162
..
Li ght Industri al l.l5/ I .OOOs/ 732
8.9%
Offi ce/ Commercial 5/ I .OOOs/ 2,74 3
33.6%
BioTech ! R&D l!1.000s/ 2,086
25.6%
Hotel

100
1.1%
Residenti al 15/Untt 989
12. 2%
CCRC 1.4/unl! 437
5.1%
Commercial ! Retail 5/ I .OOOs/ 1,075
HI %
" Not .. : . 00 m",,! p. rI; Ir.g oc:a>u nI /0, 'PPf{))[. 1656 ' poc ....
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Overview of Schemes (There i s no scheme 3)
Scheme 1 - Tech Led
Joint Repurposing Committee
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Scheme 2 - Hybrid
Scheme 4
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Comparison of Scheme Dat a (There is no scheme 3)
Scheme 1 Scheme 2 Scheme4
v
OVERAll PROGRAM
Scheme 1 Scheme 2 Scheme4
FAR 0.77 0.78 0.74
Total 3,884,000 GSF
'00'
3, 974, 250 GSF ' 00% 3, 736,200 GSF
'00'
Lt. Industrial + Office + BioTech 2,756,600 GSF 71 .0% 2,551.000 GSF 64. 2% 2.101,600GSF
56.2%
Hotel 160,000 GSF 4.1% 120,000 GSF 3.0% 80,000 GSF
2.1%
Residential 752,400 GSF 19.4% 723,600 GSF 18.2% 996,400 GSF
26.7%
CCRe 364.650 GSF 9. 2% 343,200 GSF
9.2%
Commercial I Retail 21 5,000 GSF 5.5% 215,000 GSF 5.4% 21 5,000 GSF
5.8%
MIXED USE PROGRAM
Light Industrial

)00, 000 GSF 510,OOOGSF 510, 000 GSF
Office
I
819, 600 GSF 784,OOOGSF 548, 600 GSF
Existing + New Buildings 839,600 GSF 679,000 GSF 443,600 GSF
New Medical Office 105,000 GSF 105.000 GSF
(existi ng + new) BioTech I R&D

1, 617, 000 GSF 1,257,OOOGSF 1,043,000 GSF
Hotel

200 keys ISO keys 100 keys
Residential
I
613 units 589 units 798 units
Converted Condos 268 units
Age-restricted Townhouses 21 units 21 units 21 units
6-S-story High-End Condos 484 units 484 units 4 17units
Live/Work Over Retail

108 units 84 units 92 units
CCRC 332 units 312units
Parking 10,096 cars 9,740 cars 8,162 cars
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Joint Repurposing Committee January17,2014

34
Program Allocation by Municipality (There i s no scheme 3)
Scheme 1
Ughtlndustrial
Offi"
Existing Buildings
New Buildings
BioTech I R&D
Existing Buildings
New Buildings
Hotel
Residential
Converted Condos
New Buildings
ceRe
COMMON TO All SCHEMES
Well ness Center I Medical Center
First Avenue Retail
Joint Repurposing Committee
Schemel Scheme 4
Scheme 1 Scheme2 Scheme4
Clift on Nutley Total Clift on Nutley Tot al Clifton Nutl ey Total
150,000 GSF 150,000 GSF 300,000 GSF 360,000 GSF 150,000 GSF 510,000 GSF 360,000 GSF 150,000 GSF 510,000 GSF
32,360 GSF 550,640 GSF 583,000 GSF 32,360 GSF 550.640 GSF 583,000 GSF o GSF 260,000 GSF 260,000 GSF
256,600 GSF o GSF 256,600 GSF 201,000 GSF o GSF 201 ,000 GSF 288,600 GSF o GSF 288,600 GSF
291,230 GSF 341,770 GSF 633,000 GSF 291,230 GSF 341.770 GSF 633,000 G5F 291,230 GSF 341,770GSF 633,000 G5F
541,200 GSF 442,800 GSF 984,000 G5F 405,600 GSF 218,400 GSF 624,000 G5F 330,000 GSF 80,000 GSF 410,000 G5F
200 keys o keys 200 keys 150 keys
keys
1 SO keys 100 keys
keys
100 keys
. . . . . .
o units 268 units 268 units
units
613 units 613 units
units
589 units 589 units o units 530 units 530 units
. . .
332 units o units 332 units o units 312 units 312 units
Clift on 75,000 to 150,000 GSF: assumed average = 115,000 GSF
Clift on 32,000 t o 60,000 GSF: assumed average = 40,000 GSF
IB( ..... ......... _---.
Nutl ey 48,000 to 90,000 GSF: assumed ave rage = 60,000 GSF
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January17,2014
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Parking Requirements
Referer.ce wetJ5ite Rele rerICe wetJ5ite
htt(!:LLecode360.comL12136269 httl2:lecode360.coml8S13049
Chapter 700. Zoni ng (700-91) Cha pt er 461. l Ofling (461-60,1)
Artide )(1 11. Parking Space , and l oading Berths Artide )(, Off-St reet Par king 300 l oading Sapces
Based on Township of Nutley Zoni ng (Wednesday. 7/31/2013) Based on Oty 01 Clift "" Zoning (Friday, 7/26/2013) shown ill drawi ngs
Type of Use /I of spaces /I of spa<:es It of spaces
Multifamily dwelling 1.S per 1 unit 0.5 per 1 unit 1.S per 1 unit
2 per llwo- bedrm unit
Age- restricted townhouses 1 per 1 units 1 per 1 unit
CeRe 1 per 2 units 1 per 2.5 unit s *1.2 per 1 unit
Retail stores S per 1,CXXJ .t. 4 per 1,000 . 1. ***5 per 1,000 sf.
Offoce and Commercial ***5 per 1,CXXJ d . 5 per 1,CXXJ d. ****5 per 1,000 sf.
laboratories, manufacturing 1 per 1,CXXJ . 1. 0.5 per 1,000 .1. ***2 per 1,000 sf.
Warehouses 0.33 per 1,(X)(J sf. 0.5 per 1,(X)(J sf.
Ught Industrial 0.5 per 1,000 sf. * * 1. 25 per 1,000 sf.
' SUgg ... ted based on user demand
" 1.25/1000.1 is used as a blended average 01 multiple possible uses (data center>;, warehouses, pharmaceutical, production, di,tnbuiion fadlit;.,,)
' " For the purpose 01 t hi' report we will a,,,,,,,,, the higher requi re"",nt
",. From Article XlII. Parking Space, and Loading Berth, reqUirement
Joint Repurposing Committee
IB( ..... ......... _---.
January17,2014
36
Scheme Evaluation by Criteria
37
Generation of School Children
Those of most recent construction and with the highest percentage of 1 bedrooms
generate the smallest number of students per unit.
Older projects or those with more 2- and 3- bedroom units generate more
students.
Generation of School Children
Sample Apartments in Nutley, NJ
Location
Year
Built
# of
Units
# of
Students
% 1 Bed
or less
% 2 Bed
% 3 Bed
or More
Students
/ Unit
57 East Centre Street 2011 120 11 77% 23% 0% 0.092
65 River Road
Riverview Court
2009 71 15 10% 90% 0% 0.211
101-113 River Road
Sleepy Hollow
1981 91 8 46% 52% 2% 0.088
25 River Road
Gateway
Condominiums
1968 92 24 30% 58% 12% 0.261
181 River Road 1962 108 22 71% 29% 0% 0.204
1-21 River Road
Arbor Hills
1970 216 23 81% 19% 0% 0.106
174 Bloomfield Ave 2008 25 0 92% 8% 0% 0.000
Average 1987 103 15 58% 40% 2% 0.142
38
All Public School Children in New Jersey (2005)
Students per unit, living in structures with 5 or more
units
Rental Ownership
1 Bedroom or less 0.07 0.11
2 Bedroom 0.30 0.11
3 Bedroom or more 0.88 0.47
Source:
http://policy.rutgers.edu/cupr/otherreports/Multipliers_QuickGuide.pdf
39
Estimates of School Children by Scheme
Estimated public school students generated by each scheme
Assumed the higher of local school or State-wide data
Only condominium, rental and live/work units were assumed to
generate school children (not age-restricted housing or CCRC)
Scheme 1 Scheme 2 Scheme 4
Unit Type Per Unit Units Students Units Students Units Students
1 Bedroom Condo 0.147 363 54 363 54 201 30
2 Bedroom Condo 0.147 121 18 121 18 67 10
1 Bedroom Rental 0.147 0 0 0 0 313 47
2 Bedroom Rental 0.300 0 0 0 0 104 32
1 Bedroom Loft 0.147 81 12 63 10 69 11
2 Bedroom Loft 0.300 27 9 21 7 23 7
Total 93 89 137
Note: If Scheme 4 Rentals are Condos, the student estimate would be lower.
40
Estimated Relative Campus Values
and Real Estate Taxes by Scheme
41
Assumptions for Sale of Site
Flexible Overlay Zoning in place prior to sale
Obsolete buildings demolished prior to sale
Underground utilities and infrastructure
remain in place
All remaining existing buildings are vacant
Environmental remediation of soil complete
Sold to a single developer in 2015
42
Estimated Absorption by Scheme
Based on absorption trends and market activity, the
schemes are estimated to reach full absorption in the
following approximate timeframes:
Scheme 1: More than 25 years
Scheme 2: 20 to 25 years
Scheme 4: 15 to 20 years
The BioTech/R&D is projected to take the longest to absorb in
each scheme.
43
Economic Impact:
Estimated Potential Real Property Tax Revenues
Estimated real property tax revenues at full build-out in 2013 dollars.
Estimated Real Property Tax Revenues
at Full Build-Out ($ millions 2013 dollars)
Clifton Nutley Total
Scheme 1
$9.9 $13.9 $23.8
Scheme 2
$10.9 $12.4 $23.3
Scheme 4
$8.7 $14.1 $22.8
44
Economic Impact
45
Economic Impact:
Estimated Employment
Construction Operations (at full build-out)
Direct
Indirect/
Induced
Total Direct
Indirect/
Induced
Total
Scheme 1 6,811 4,688 11,499 9,332 9,105 18,437
Scheme 2 6,224 4,241 10,465 8,339 8,357 16,696
Scheme 4 5,482 3,737 9,219 6,736 6,660 13,396
Peak employment at Roche was 8,500
Construction employment in person-years; operating employment in FTE jobs.
Construction and operating impacts both assume full build-out of the proposed program.
46
Economic Impact:
Wages (2013 dollars)
Wages in millions of 2013 dollars. Construction and operating impacts both assume full build-out
of the proposed program.
Construction Operations (at full build-out)
Direct
($ Millions)
Indirect/
Induced
($ Millions)
Total
($ Millions)
Direct
($ Millions)
Indirect/
Induced
($ Millions)
Total
($ Millions)
Scheme 1 $524 $288 $812 $907 $554 $1,461
Scheme 2 $472 $259 $731 $796 $521 $1,318
Scheme 4 $413 $227 $640 $653 $422 $1,075
47
Economic Impact:
Output (2013 dollars)
Output in millions of 2013 dollars. Construction and operating impacts both assume full build-out
of the proposed program.
Construction Operations
Direct
($ Millions)
Indirect/
Induced
($ Millions)
Total
($ Millions)
Direct
($ Millions)
Indirect/
Induced
($ Millions)
Total
($ Millions)
Scheme 1 $1,253 $803 $2,056 $2,022 $1,609 $3,631
Scheme 2 $1,124 $723 $1,847 $1,929 $1,527 $3,456
Scheme 4 $986 $635 $1,621 $1,614 $1,246 $2,859
Includes increased revenues on & off-site at existing & future local
businesses
48
Redevelopment Criteria
Evaluation
49
Criteria Scheme 1 Scheme 2 Scheme 4
Facilitates earliest start
of development
Facilitates earliest
completion of
development
Maximizes potential
commercial reuse of
existing facilities by
private tenants
Minimizes negative
impact on existing retail
businesses in the two
communitys CBDs
Accommodates Roche
selected environmental
remediation strategies
which minimize Roche
long-term liability
Key:
Meets the Criteria: Does Not Meet the Criteria:
50
Criteria Scheme 1 Scheme 2 Scheme 4
Preserves and respects
Roche corporate values
and reputation
Is a plan that will adapt
to future market demand
Minimizes negative
traffic impact
Provides Fair Market
Value to Roche
Minimizes impact on
public schools (Nutley
only no impact on
Clifton)
Key:
Meets the Criteria: Does Not Meet the Criteria:
51
Criteria Scheme 1 Scheme 2 Scheme 4
Maximizes generation of
real estate tax ratables
Maximizes level of job
creation including
temporary construction
jobs
and permanent jobs
Summary
Key:
Meets the Criteria: Does Not Meet the Criteria:
52
Next Steps
In order to create an opportunity for Roche to dispose of its property to potential
developers, the City of Clifton and the Township of Nutley will prepare
modifications to their respective current zoning that will allow the uses described
in the proposed development scenarios.
The likely device they will use will be to create a Special Zoning District for each
community that encompasses their respective portion of the Roche campus.
The Special Zoning District will need to be flexible enough to allow for market
demand to be accommodated for each identified proposed use, Light Industrial
and Manufacturing, Bio Tech Research, Commercial Office and Continuous Care
Retirement Community (CCRC). The zoning will also have to be specifically
developed to limit the types of retail and residential development based upon the
municipalities requirements.
The goal of each community should be to have this zoning legislation in place by
June 2014 to coincide with Roche site divestiture.
53