Sellsius real estate marketing blog

Preferred Real Estate Investments (PREI), the developer who purchased the famed Bell Labs property in Holmdel, New Jersey from Lucent Technologies, announced last night at the Holmdel Community Center, that it would preserve the two original Phase I buildings designed by noted architect Eero Saarinen AND build a Library to house & display Bell Labs artifacts, resource materials and other historical documents. It would also maintain the uniquely designed transistor landscaping, complete with oval, pastural green space & ponds, & the landmark transistor shaped tower.

Michael G. O’Neill, founder & CEO of PREI, acknowledged that bloggers writing on the story had generated hundreds and hundreds of emails & calls from around the world, mostly in support of some preservation of the historic site. Recognizing the provenance of the Bell Labs site, PREI will use the original Phase I buildings as a focal point for a “world class site”, said Mr. O’Neill.

A New York Times article in June had reported that PREI could not find a way to renovate the 2 million square foot mirrored structure & it would have to be demolished. I brought the story to the blogging community in this post on June 29th. After doing further research, I contacted Ryan Block, Managing Editor of Engadget to enlist his help. I presented him with the evidence supporting preservation of the site & crossed my fingers. On July 5th, Engadget posted the article that had worldwide repercussions. It began “It is not very often that we here at Engadget adopt an issue and stand behind it…”

Well, thank the tech gods they did. The faithful readers of Engadget and the other blogs who supported some form of preservation took action. With e-mail, letters & telephone calls THEY beseiged PREI, New Jersey’s Historic Federation (members who were at the meeting) & the National Register of Historic Places. As much as I and Ryan might want to take credit for PREI’s rethinking the development, it was the READERS of our blogs who did the heavy lifting. I publicly thank you all, even the readers in opposition, because an open dialogue is only valuable if everyone’s voice is heard.

I was in attendance at the meeting and it was clear that Michael O’Neill and the folks at PREI are intelligent and innovative developers who listened with caring ears. In what he called “a homage to the legacy of innovation”, Mr. O’Neill highlighted some features of the redevelopment plan:

Front view of site, within the oval

The two original Phase 1 buildings built between 1959-1962 (50% of the original design). will be the focal point when visitors arrive –just as it would have been almost 50 years ago. The awe inspiring center lobby, 80 feet high, is also staying. The mirrored facade (the first of its kind for a commercial building) will be replicated since the original glass color is no longer available. Five buildings (shown in orange) will be added to round out the campus feel. Going are two Phase II buildings & two wings added years later that were not part of the original Saarinen design. The 8 acre undergound basement will be converted to garage parking.

Almost all of the green space will remain untouched. More trees will be added. The Bell Labs Library will be built somewhere within this pastural setting. Inventions will be incorporated into the public spaces. Of the 472 acres, 254 will remain undeveloped.

PREI projects the site will eventually triple the city’s tax base, from $3 to $9 million. Commercial tenants are expected by early 2009.

Those in attendance were pleased with the plan save for one concern, the 350 houses to be built. The call was “no townhouses”. PREI was listening.