Are Terrible Things Coming To Nutley Real Estate in [2017]?

I don’t think so as a matter of fact I think things are going to get allot better soon!

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An exciting new venture will take over the former Hoffman-La Roche Inc. site in Nutley and Clifton; Seton Hall University and Hackensack University Medical Center recently announced plans for a private medical school, the first private medical school in decades. This economic boost for the area is particularly good news to Matt DeFede, broker/owner of Realty Executives in Nutley.

“When Hoffman-La Roche closed, many good paying jobs in this area disappeared and it created a ripple effect. This project is a welcome announcement as it will be a boon to real estate values.”

Residents have wondered what would become of the sprawling 100-acre campus, sitting empty since 2013. The new medical school will occupy approximately 14 acres of the space, and will hopefully kick off a revitalization of the empty land into something beneficial for the surrounding areas.
The Hoffmann-La Roche headquarters occupied the campus for more than 80 years, housing research and development facilities. At one time, more than 8,500 people were employed by the pharmaceutical company, although that number varied over the years. When the company closed the Nutley/Clifton location, several thousand jobs – and tax revenue – were lost.

“Losing a cornerstone business impacts all aspects of revenue, we know that. So when you see a project like this, it gets you excited because you know the positive things it will bring to the communities. From construction and services, to new homeowners,” said DeFede.
State and local leaders are praising the Seton Hall University and Hackensack University Medical Center medical school as game-changer for education, as well as the counties, which will house the project.

Seton Hall is looking for the first class to start as soon as fall 2017.

About Matthew DeFede

Nutley Real Estate Agent

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