Even for the likes of Prism Capital Partners, a developer that’s well versed in repurposing historic buildings, so-called adaptive reuse projects are not for the faint of heart.
The firm’s Gene Diaz said as much last week to a crowd of nearly 200, as Prism accepted an award for its acclaimed Wonder Lofts project at Hoboken’s 114-year-old Wonder Bread factory.
“It is a labor of love, and I don’t suggest any of you try it,” he said, drawing laughs from those on hand for the Urban Land Institute’s Northern New Jersey Excellence Awards.
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