According to Blue Onyx, its Northeast mixed-use portfolio and development pipeline, which exceeds $600 million in estimated construction costs, is continuing to expand. And accordingly, so is the firm, with the addition of a new development leader to help push through a large-scale expansion.
On Dec. 15, Blue Onyx Cos. said Tricia Wood would become vice president of development. She also joins the firm’s executive team, led by founder and Chief Executive Officer Levi Kelman.
“As we look to the future of the firm and continue to add large scale multifamily and mixed-use developments to our portfolio, Tricia’s robust and diverse expertise across real estate development, construction, and property management make her the perfect fit to support our strategic growth,” Kelman said. “Throughout our decade-long history, we have established a proven track record of success in the industry, and we look forward to leveraging Tricia’s market knowledge to identify value-add opportunities in high-growth regions throughout New Jersey and the Tri-State area at large.”
At Blue Onyx, Wood will be responsible for supervising the development team’s strategic processes and objectives, the implementation of best practices across its portfolio, and for identifying new opportunities to support growth, the firm said.
Wood brings nearly two decades of experience to the privately held real estate development, investment and property management firm. She previously served as director of development for Roseland Residential Trust.
Before that, Wood was vice president of development at Mill Creek Residential Trust, where she oversaw design and construction across a portfolio of multifamily residential space.
“I was immediately attracted to Blue Onyx’s mission-driven, conscientious approach to development and its keen focus on community building and elevating tenants’ quality of life, which stems from CEO Levi Kelman and is a core pillar of the firm,” Wood said in a statement. “I’m proud to have executed extensive work across reputable Class A multifamily and retail development projects throughout my career, and am eager to apply this experience working alongside Levi and the entire Blue Onyx team to create strong, connected communities.”
In an announcement on Wood’s addition, Blue Onyx said her hiring comes in the midst of a strategic repositioning at the firm to focus on large-scale projects in untapped regions across the New Jersey-New York-metro area. In June, the company broke ground on a development that bring a 78-unit multifamily property to East Orange.
Gabrielle Saulsbery contributed to this report.