Newspaper article The Record (Bergen County, NJ)

Town to Hear Plans for Pearson Site

Newspaper article The Record (Bergen County, NJ)

Town to Hear Plans for Pearson Site

Article excerpt

NEW BRUNSWICK - After a panel where his fellow real estate executives lamented having to "grovel" before town officials, the owner of the Pearson publishing headquarters in Upper Saddle River said his company will present its plans for the property, which include upscale apartments, to the Borough Council in November.

Mitchell Hersh, president and chief executive of Mack-Cali Realty Corp. and chairman of Roseland Management Services LP, and Carl Goldberg, a Roseland co-president, said their ideas for the 47-acre Pearson site - which have already caused a stir in town and were blasted by some local officials - will be outlined Nov. 7. Mack- Cali-owned Roseland is spearheading the parent company's push into multifamily housing.

"We are going to seek community input," Goldberg said. "We look forward to the opportunity in November to share our concepts and begin a dialogue with the municipality that we hope people will perceive as mutually beneficial."

Neither Hersh nor Goldberg offered specifics about the Pearson site, which the publisher is vacating at the end of 2014 as it moves to Hoboken and New York City. But earlier this year, Hersh said that in light of the dismal office market, Mack-Cali was looking to add mixed uses to the Pearson property, including upscale rental units.

Hersh and Goldberg were panelists at the RealShare Conference at the Hyatt Regency, which drew nearly 400 attendees. A "power panel" discussed at length the reluctance of New Jersey towns to permit the so-called adaptive reuse of sites such as outmoded suburban office campuses, with Hersh critical of municipalities for their resistance to change. Some towns say more residents will add a burden to municipal services such as schools, which some panelists said was a fallacy because many apartment dwellers are childless. Hersh did not mention Pearson or Upper Saddle River during the panel. …

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