HBC, through its real estate development arm Streetworks Development, announced plans to reimagine the former Lord & Taylor building in Westfield and develop the remainder of its property, along with several town-owned parcels in the municipality, through a sequenced, mixed-use development to be known as One Westfield Place.
The project is poised to reinvigorate Westfield’s downtown; repurpose underutilized buildings and properties; optimize parking; create new housing and commercial spaces; improve pedestrian connectivity between residential neighborhoods and downtown; and envision a mobility hub to accommodate alternative modes of transportation around the Westfield Train Station.
“HBC has more than 350 years of experience in reinvention and revitalization. As the long-term holder of many iconic retail brands, including Saks Fifth Avenue and Saks OFF 5TH, we understand the responsibility we hold to repurpose and bring life to the former Lord & Taylor site in Westfield,” said HBC Governor, Executive Chairman, and CEO Richard Baker. “One Westfield Place, will be welcoming, distinct and authentic, with increased walkability, pedestrian access to open spaces, tree-lined sidewalks, picturesque main streets, and buildings expertly designed to complement the unique charm and character of the town. The revitalization of Downtown Westfield will serve as a model of suburban downtowns for years to come.”
HBC | Streetworks Development’s proposed 731,000-square-foot development, One Westfield Place, includes:
In addition to improving the Town Green, Town Square, and Quimby Street, HBC | Streetworks Development, in concert with the Downtown Westfield Corporation, will collaborate with Dan Biederman, President of Biederman Redevelopment Ventures, the experts behind New York’s Bryant Park, to develop a comprehensive plan to strategically activate and program events and activities in public spaces and gathering areas.
The project as envisioned will generate several million dollars per year to the Town of Westfield for a total of over $200 million in additional revenues over 30 years, which would help to stabilize taxes, fund public improvements, and support other municipal priorities to maximize the benefits to the entire Westfield community.
The project will also create over 2,900 jobs during construction, as well as 1,700 jobs when operational. The development takes into consideration the 12 Guiding Principles outlined in Westfield’s Master Plan Reexamination, which was adopted in 2019 after a robust public input process.
To help educate residents about the scale and scope of One Westfield Place, as well as listen to community feedback, HBC | Streetworks Development is opening a Preview Center located at 76 Elm Street, in Downtown Westfield.
The plans for One Westfield Place are subject to approval by the Westfield Town Council, a process that will take place in the coming months following the completion of public input.
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