Post Alcatel-Lucent
In 2006, Alcatel-Lucent contracted to sell the facility to Preferred Real Estate Investments in the process of restructuring the company's research efforts. Despite initial plans to maintain the original buildings and keep the complex as a corporate office park, economic developments later resulted in Preferred seeking to re-zone as residential property. As a result, the complex was added to The Cultural Landscape Foundation's list of 10 Most Endangered Historic Sites in New Jersey in May 2007. Additionally action led to the creation of a citizen's group, Preserving Holmdel, by former Bell employees, to lobby for keeping the complex as it was when in use as a laboratory. Working with the community, ideas for changes such as a university center or recreational complex, in portions of the former facility are under consideration.
The Preferred transaction did not close and on May 17, 2012 Holmdel Township declared the site as an "Area in Need of Redevelopment" and adopted a Redevelopment Plan for the property that included various adaptive reuses of the main building and the construction of up to 40 single family homes and 185 age-restricted townhouses outside the main ring road surrounding the building. The Redevelopment Plan is available on the Township's website. The complex is currently under contract to Somerset Development LLC. Somerset has provided concept plans for the redevelopment of the complex in accordance with the Redevelopment Plan and is in discussions with Township officials concerning the details of those plans. Somerset's Redevelopment Concepts are available online and on the Township's website.
Read more about this topic: Bell Labs Holmdel Complex
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