In 2006, the Eero Saarinen-designed Bell Telephone Laboratories was in imminent danger of demolition by would-be developer, Preferred Real Estate Investments of Conshohocken, Pennsylvania, who planned to replace it with smaller office buildings and housing units on the site’s pastoral 472 acres. Now, two years later, Somerset Development, a Lakewood, New Jersey, firm, has signed a contract with Alcatel-Lucent, the property owner. If redevelopment proceeds as planned, the 1.9-million-square-foot, six-story building, named to Preservation New Jersey’s “10 Most Endangered Historic Sites” list in 2007, and recently declared eligible for listing in the National Register of Historic Places, will be spared the wrecking ball.

In a statement made via email, Somerset president Ralph Zucker wrote that the firm does “not plan on demolishing any of the existing structures,” and is “approaching this with a preservationist attitude.” Somerset is still in the early planning stages, but feels the building lends itself to a mix of uses. Zucker, a proponent of New Urbanism, wrote that his vision is “a downtown-style, mixed-use environment created at [the] building.”