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Bayville Holdings Completes $30M Conversion

TRENTON, NJ-The once-threatened Broad Street Bank building is now revamped into 124 apartments and ground-floor commercial space.

By Eric Peterson | Updated on April 22, 2008

TRENTON, NJ-It had been abandoned for more than a decade, and it was at one time on the list of New Jersey’s most endangered historic properties. But the 12-story, 145,000-sf Broad Street Bank building has emerged from a $30-million redevelopment that has turned it into 124 apartments and 12,900 sf of ground-floor retail and office space. The building also features a 4,000-sf resident-only roof terrace garden.

Developer Bayville Holdings, a local partnership, this week formally re-opened the building for business, although leasing activity had already been launched in recent weeks. The residential component consists of a combination of one- and two-bedroom units, with 20% set aside for working families with incomes below 50% of the area’s median income. The initial commercial tenant is the NJ Public Information Research Group, and Bayville is said to be actively courting a restaurant tenant for its largest retail space.

The building’s redevelopment process has been in the making since 2005. “There is a lot of history behind this building,” says Bayville Holdings partner George Fakiris. “The building is beautiful.”

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