Trenton Downtown Association

Once Abandoned Turn-Of-The-Century Skyscraper Now Luxury Apartment Building Celebrates Grand Opening In Downtown Trenton

The Broad Street Bank building emerges from state’s list of most endangered historic properties as a symbol of downtown Trenton’s revival with its 124 apartments and first floor commercial spaces.

(Trenton, NJ, Wednesday, April 16, 2008) History was made yesterday at a grand opening ceremony for the city’s historic Broad Street Bank building, which was restored and converted to luxurious residential rental apartments with first floor retail spaces. The event drew more than 150 people, including several city and state officials as well as business and community leaders. Following the remarks and ribbon cutting ceremony were tours of the building’s energy efficient apartments, including a model unit decorated by architect/designer Gordon Goode, and its famed roof top garden.

Once on the list of the Top Ten Most Endangered Historic Sites by Preservation New Jersey, the building was rescued from a decade of abandonment and neglect by developer Bayville Holdings LLC, which turned an eyesore into a model of adaptive reuse and sustainable, green redevelopment. Bayville also successfully had the property added to the National Register of Historic Places, making it the first historically designated green building in Central New Jersey.

The new development has 124 one and two-bedroom apartments and over 13,500 square feet of retail and commercial office space. Twenty percent of the apartments are reserved for working families with incomes below 50% of the area median income. The first commercial tenants include NJ Public Information Research Group and the developer is actively courting a restaurant tenant for its largest retail space.

The ceremony was presented by the Trenton Downtown Association (TDA) and the Capital City Redevelopment Corporation (CCRC), the nonprofit manager of the special improvement district and the state agency tasked with managing downtown Trenton’s redevelopment, respectively, which have joined forces to provide marketing support to the developer.

Guests included Bayville Holdings LLC Partner George Fakiris, City of Trenton Mayor Douglas H. Palmer who is also currently the president of the U.S. Conference of Mayors, New Jersey State Department of Community Affairs (DCA) Commissioner Joseph V. Doria, New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Marge Della Vecchia, City of Trenton Housing and Economic Development Director Sasa Montano, Trenton City Council President Paul Pintella, Mercer County Economic Development and Sustainability Director Elizabeth Muoio, and Preservation New Jersey Board President John Hatch.

Built in 1900 as an elegant banking and office center, the Broad Street Bank became the city's first "modern" skyscraper. The construction of the original eight-story structure in the style of Louis Sullivan, built in 1900, was followed in 1913 by a twelve-story addition, and by another 8-story addition in 1923. The additions use architectural details from the original structure so the entire building appears as one cohesive design. The building remains the only example of early 20th century New York School skyscraper architecture in Trenton, as well as the only example in the downtown of French Renaissance architecture.

“In a city that is one of the great historical locations in America, the Broad Street Bank stands tall, as a reminder of the many dimensions of Trenton’s historical significance and present-day appeal,” said Mayor Palmer. “Today, this landmark building is one of several key elements in a revitalization effort creating a capital city draw for tourism, entertainment, dining, shopping, and, of course, distinctive residential housing. The downtown master plan that we will be issuing soon will underscore the importance of the Broad Street Bank as part of a vibrant area that is attracting investment from businesses and residents alike.”

"There is a lot of history behind this building. The building is beautiful. We have spent over $30 million to make the building even more beautiful and sustainable," said Fakiris, adding that the energy efficient lighting fixtures, appliances, and heat and cooling systems used in the building will mean lower utility bills for tenants.

“Governor [Jon] Corzine is committed to providing 100,000 units of affordable housing for New Jersey residents and Broad Street Bank is one step further towards fulfilling that goal," said DCA Commissioner Doria. "This is a great day for Trenton and DCA and the HMFA look forward to being part of a continuing process of making our state capitol a vibrant place to live, work and visit.”

“When the history is written about downtown Trenton’s revitalization, the redevelopment of the Broad Street Bank will be cited as one the key transformative moments,” said Taneshia Nash Laird, Executive Director of the TDA. “As the recently designated development marketing consultant for the Broad Street Bank building, the TDA is pleased to be a part of downtown Trenton history in the making.”

“The Broad Street Bank - Trenton's first skyscraper - is one of the City's most recognizable buildings and has been a symbol of Trenton's history,” said CCRC Executive Director Monique King-Viehland. “Today - with the historic renovation of the structure and the conversion to market rate and affordable residential units as well as first floor office and commercial spaces - it has become a symbol of the future....the future of Downtown Trenton's revitalization. This is a great place to live for anyone who wants to be a part of both Trenton's history as well as its future.”

The Broad Street Bank apartment complex is located in the heart of downtown Trenton near shops and restaurants and is a brisk walk to the Trenton Train Station, a major transportation node consisting of NJ Transit, Amtrak, and SEPTA, as well as the RiverLINE light rail. City Hall and Mill Hill Park, the site of the Battle of Trenton in the Revolutionary War, are only a block away from the building which is also within walking distance of the State House, State Museum & Planetarium, the War Memorial, the Old Barracks Museum, and the Battle Monument.

The stylish apartments feature hardwood floors, oversized windows, high ceilings, private, off-street parking, energy efficient appliances, a tenant-only exercise room with lockers, and a 4,000-square-foot, resident-only roof terrace garden that offers spectacular views of the Capital City.

The leasing agent is Richardson Management for the apartments and Richardson Commercial for the commercial spaces. For more information about leasing in the Broad Street Bank, visit www.broadstreetbank.com.