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This article by Barbara Fox was prepared for the July 3, 2002 edition of U.S. 1 Newspaper. All rights reserved.

Bloomberg Expands

Two years ago Bloomberg Financial Markets asked to expand

its Business Park Drive site, but that proposal is still languishing

in Montgomery Township’s approval process. Ewing Township, on the

other hand, has been known to promise a one-month turnaround for approvals

to build on the 109-acre Atchley farm on the west side of Route 31.

So last week the global news and financial information firm went to

the township’s site review committee with preliminary plans for a

1 million square foot office park on the Atchley tract. It would start

with a 240,000 foot building but would ask for approvals for five

buildings and 5,000 parking spaces.

Jay Biggins, of Stadtmauer Bailkin Biggins at 32 Nassau Street, helped

Bloomberg pick Ewing over sites in Mercer and Bucks counties. The

Atchley tract is less than two miles from freight train service, and

passenger service has been proposed there. Also a long-planned access

point to I-95 is finally being built.

Montgomery residents may not need to worry about losing a big taxpayer,

at least for now. "Our company has had strong historical growth

and so we must plan for the future," says spokesperson Chris Taylor.

Most of the 1,600 Princeton workers are located in 130,000 feet on

Business Park Drive in Skillman, where valet parking can maximize

the number of parking spaces. But some current editorial and data

processing employees are in 39,000 feet on Route 206, and in 92,000

feet on College Road. "As we have grown we have had to lease additional

space," says Taylor. "Our plan is to consolidate that into

the first phase of development. We have no immediate plans to move

out of Business Park Drive."


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