PARQ begins site enabling works

PARQ finalizes development financing and gives Esposito Construction the green light to begin infrastructure works at the former Lanidex office complex in Morris County.

Haytham Haidar

Haytham Haidar

PARSIPPANY, N.J.March 9, 2022PRLog — The next phase for PARQ Life Reimagined, located at the former Lanidex Plaza in Morris County, has begun as the site’s developer closes on a $37M loan with Interaudi Bank of New York City on March 2nd. The loan will fund site works for the overall development and other activities, inclusive of the demolition of existing buildings, as well as the installation of water, sewer and drainage lines, paving, grading and curbing, the roadway network and PARQ Lane Boulevard. Site work will be completed by Esposito Construction in Old Bridge. Looking to the future, PARQ is expected to close on the financing for Phase 1 of the project, which includes 275 multifamily units, in Spring 2022.

The approved plan will be implemented in two phases. The first phase includes Multi-Family Building 1, which features 275 multi-family residences, convenience retail, indoor and outdoor amenity space and ample parking. It will also highlight 75 clustered courtyard townhomes with two-car garages. The townhomes, which are currently under contract to be built by Ryan Homes, will feature contemporary farmhouse-style architecture with access to a clubhouse and outdoor pool. Convenient, master-down home designs are also available. An athletic field, concession building, restrooms and playground are also included in the first phase.

The second phase includes Multi-Family Building 2, which features 250 multi-family residences, convenience retail, indoor and outdoor amenity space and ample parking.

The two luxury multi-family buildings tout green design elements, as well as smart building and home features that promote wellness. These features include Energy Star® appliances and lighting fixtures; windows with Low-E coating; low flow water fixtures; programmable thermostats, and electric car charging stations in each building’s parking garage. Each multi-family building also features an elegant welcoming lobby with motor court drop off; upscale club suite; private event room; children’s playroom; state-of-the-art fitness center; a resort-style pool with outdoor BBQ and lounging areas, and co-working alcoves.

Haytham Haidar, Managing Director of PARQ, noted how this project will usher in a new era in Morris County. “PARQ will forge us into the 21st century with state-of-the-art facilities, vast and welcoming green spaces for the community to enjoy, a recreational complex open to residents and sports programs to utilize, and enhanced revenue as a result of the site’s modernization,” Haidar added.

PARQ will instill a new sense of community and placemaking by celebrating the balance of health, happiness and well-being. “Urban renewal and revitalization projects are vital to stimulate the economy, enhance property values and instill a sense of civic pride,” said Anthony Milelli, Principal Director of PARQ.

Located near I-287 and I-80, PARQ residents can be at the Port Authority Bus Terminal in New York City in just over an hour via the NJ Transit® Parsippany-Troy Hills Park/Ride. For those who are up for more of an adventure, the world’s most admired cities are just hours away via Newark International Airport, John F. Kennedy International Airport and LaGuardia Airport.

PARQ’s vision is for the revitalization to seamlessly integrate the design of the project into the existing fabric of the community. The overall transformation of the 23-acre portion of Lanidex Plaza will conclude in 2025. “This new, authentic neighborhood will be upscale, welcoming and humble,” said Haidar. “At PARQ, the best is yet to come.”

Murphy Schiller & Wilkes LLP is acting as finance counsel for PARQ and Garofalo O’Neill Ruggierio, LLC is acting as land use counsel. “We are pleased to be working on this exceptional and transformational project,” said Charles J. Wilkes, Partner at Murphy Schiller & Wilkes LLP. “It is a really great partnership among the lender, ownership and the professionals involved.”

About PARQ

The PARQ development team includes: Garofalo O’Neill Ruggierio, LLC, Real Estate Law; Murphy Schiller & Wilkes LLP; Esposito Construction; Minno & Wasko, Architects and Planners; Design 446, Marketing and Advertising; Greystar Real Estate Partners; Langan Engineering & Environmental Services; Melillo + Bauer Associates, Landscape Architects, and Mary Cook Associates, Interior Design.

SJVN begins the work of Second Unit of 1320 MW Buxar Thermal Power Plant in Bihar

CMD SJVN Shri N L Sharma virtually inaugurated the works of Second Unit of (2 X 660) 1320 MW Buxar Thermal Power Plant.  

The Foundation Stone of 1320 MW Buxar Thermal Power Plant was laid by Hon’ble Prime Minister of India Shri Narendra Modi on 9th March 2019. Shri Sharma  informed that the progress of the Project is being continuously monitored by Hon’ble Union Minister for Power & NRE, Sh. R. K Singh. He exhorted all stakeholders to enthusiastically strive hard to commission the Project prior to the scheduled timeframe. 

The project consists of two units and that more than  50 % works related to First unit have already been completed. The 1320 MW Buxar Thermal Power Plant with Ultra Super Critical Technology is being developed by SJVN Thermal Pvt. Ltd (a fully owned subsidiary of SJVN Limited). The Plant involves investment of around Rupees 11,000 Crore. On commissioning, the plant will generate 9828 Million Units of electricity. He emphasized to contribute towards the target of “24X7 Power for All” set by Hon’ble Prime Minister of India. He stated that every individual associated with activities of the Plant has to concertedly work towards commissioning of the first unit of Plant by June 2023 and second unit by January 2024. 

SJVN’s present installed capacity is 2016.51 MW and has portfolio of more than 11000 MW & aims to be generating 5000 MW by 2023, 12000 MW by 2030 and 25000 MW by 2040. SJVN has presence in various sectors of energy generation which includes Hydro, Wind, Solar & Thermal. The company also has presence in the field of Energy Transmission.



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Japan – Honda Begins Company-wide Expansion of its New Business Creation Program, “IGNITION,” to Help Realize Ideas and Dreams of Honda Associates

Honda Motor Co., Ltd. has begun expanding its new business creation program, IGNITION, to the entire company. IGNITION is a program that gives shape to the original technologies, ideas and designs of Honda associates and contributes to solving social issues and creating new value for people.

The IGNITION program was initiated in 2017 by Honda R&D Co., Ltd., a Honda research and development subsidiary. Since it began, IGNITION has received many applications with new business ideas, and several proposals that have a high degree of compatibility with Honda business are already being pursued at Honda with an eye toward commercialization.

In the meantime, there also were proposals that could deliver value to society more quickly if they were pursued through a startup business venture, taking advantage of the unique characteristics of startup companies; therefore, in 2020, IGNITION added an option to strive for commercialization of new business ideas through business ventures, in addition to commercialization inside Honda. Ashirase Inc., whose establishment was announced today, is the first business venture to originate from IGNITION.

Moreover, in April 2021, Honda began evolving IGNITION as company-wide program which enables all Honda associates in Japan to take on the challenge of creating new businesses. By realizing the ideas and dreams of not only engineers, but also associates from various divisions including production, sales and administration divisions, Honda will create products and experiences that do not yet exist in the world, generating a “fresh breeze” in society.

IGNITION is collaborating with a venture capital firm which participates in the final round of the evaluation as one of the jurors examining each proposal from the exacting perspective of an investor. Moreover, the proposers have access to advice and support from the venture capital firm during the evaluation process.


All full-time Honda associates in Japan are eligible to submit proposals regardless of their length of employment and assigned divisions.

Ideas that pass the final evaluation process will be commercialized within Honda or by establishing a business startup company.

In principle, the decision on commercialization will be made within a 6-month period, during which a taskforce team consists of internal specialists to be formed to support each proposer.
The venture capital firm will provide advice and support to each proposer throughout the evaluation process.

In order to ensure independence of the startup, the ratio of capital contribution by Honda will be limited to no more than 20%.

Comment by Yasuhide Mizuno, IGNITION Chief Juror / Managing Officer of Honda Motor Co., Ltd.:

“At Honda, there are many associates who have a passionate desire to help people and contribute to society using their original technologies and ideas. IGNITION is a program which fosters and gives shapes to such technologies and ideas of Honda associates and enables them to create new value that contribute to solving social issues. We are now expanding the program to include all associates in Japan, offering an option to take on a new challenge to start up their own business ventures. There are an extremely high hurdles set to start business ventures, however, we are hoping that IGNITION will trigger the further energizing of Honda’s challenging spirit and enable us to generate a fresh breeze by going beyond our existing business to create new products and experiences that do not yet exist in the world.”

Copyright ©2021 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Canada – Minister Ng begins new trade dialogue with Australia 

Yesterday, the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, held the first meeting of the Canada-Australia Trade Ministers Dialogue with Dan Tehan, Australia’s Minister for Trade, Tourism and Investment.

May 14, 2021 – Ottawa, Ontario – Global Affairs Canada

The Government of Canada is committed to strengthening the country’s international trade ties and creating opportunities for Canadian businesses to grow across Canada and around the world to ensure a strong, sustainable, and inclusive recovery from the COVID-19 pandemic.

Yesterday, the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, held the first meeting of the Canada-Australia Trade Ministers Dialogue with Dan Tehan, Australia’s Minister for Trade, Tourism and Investment.

The establishment of the regular trade ministers dialogue provides a platform for the two ministers to discuss shared priorities and deepen the Canada-Australia bilateral relationship.

Minister Ng highlighted the importance of continued cooperation among Canada, Australia and other trade partners to strengthen global supply chains and support a long-term economic recovery that benefits all.

The two ministers reiterated their commitment to the rules-based international order and economic resiliency.

Ministers Ng and Tehan expressed their commitment to supporting businesses and entrepreneurs with the resources and tools they need to gain access to new and emerging global markets. They emphasized the importance of creating more inclusive opportunities for small and medium-sized enterprises, especially those led by women, racialized, and Indigenous entrepreneurs.

Because Canada and Australia are global leaders in clean technology and innovation, Ministers Ng and Tehan highlighted each country’s efforts to develop and implement more clean energy solutions to mitigate the effects of climate change.

The ministers discussed ways to enhance bilateral collaboration on shared trade and economic priorities in the Indo-Pacific region, including through multilateral trade agreements, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, and organizations such as the WTO and APEC.

Associated links

Canada-Australia relations
Comprehensive and Progressive Agreement for Trans-Pacific Partnership

Youmy Han

Press Secretary

Office of the Minister of Small Business, Export Promotion and International Trade