Opening of redeveloped historic building celebrated

April 15, 2008 3:26:34 PM PDT
Once labeled as one of the "Top Ten Most Endangered Historic Sites" in New Jersey, the Broad Street Bank building now has new life.Today at a grand re-opening ceremony, city and state officials gathered along side with the developers to celebrate the building's rebirth.

The ribbon cutting and tour highlighted the estimated $30-plus million in renovations that Bayville Holdings says they spent to turn the abandoned eyesore into a model of redevelopment.

The building has 124 brand new one and two-bedroom apartments and over 13,500 square feet of retail and commercial office space.

Rents run from $925 to $1,020 for a one bedroom and $1,250 to 1,510 per month for a two-bedroom, but 20% of the building is reserved at lower rents for working families with incomes below half the area's median income.

Officials say at this point only about a dozen apartments are occupied and finding tenants has gone slower than anticipated.

Built in 1900, and among Trenton's history, the Broad Street Bank building was the city's first skyscraper, the first city building to have an elevator, and first to have revolving entrance doors.

Located at the corner of East State Street and Montgomery Street, the building which is on the National Register of Historic Buildings, also boasts a 4,000 square foot roof top garden that offers impressive views of the Capital City.