Developer Bayville Holdings, a local partnership, this weekformally re-opened the building for business, although leasingactivity had already been launched in recent weeks. The residentialcomponent consists of a combination of one- and two-bedroom units,with 20% set aside for working families with incomes below 50% ofthe area's median income. The initial commercial tenant is the NJPublic Information Research Group, and Bayville is said to beactively courting a restaurant tenant for its largest retailspace.

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The building's redevelopment process has been in the makingsince 2005. "There is alot of history behind this building," says Bayville Holdingspartner George Fakiris. "The building is beautiful."

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And the asset, bounded by East State, South Montgomery and SouthBroad streets in this city's downtown, is also green. "We havespent more than $30 million to make it even more beautiful andsustainable," Fakiris says, adding that energy-efficient lightingfixtures, appliances and HVAC systems are all part of thepackage.

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The Broad Street Bank building was built in stages, beginningwith an eight-story structure in 1900. That was followed by a12-story addition in 1913 and another eight-story addition in 1923.The building went completely vacant when the last retail tenantsmoved out in the early 1990s.

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"When the history is written about downtown Trenton'srevitalization, the redevelopment of the Broad Street Bank will becited as one of the key transformative moments," says Taneshia NashLaird, executive director of the Trenton Downtown Association,which is marketing the building. "We're pleased to be part ofdowntown Trenton history in the making."

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Mayor Douglas Palmer says in a statement that "it stands as areminder of the many dimensions of Trenton's historicalsignificance and present-day appeal. This landmark building is oneof several key elements in a revitalization effort creating acapital city draw."

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As far as its available commercial space, it's currently listedon TDA's website in units of approximately 990 to 4,400 sf. Baseasking rent is $18 per sf gross plus tenant utilities and CAMcharges of less than $1,000 per year.

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