The New Jersey Economic Development Authority (NJEDA) has announced a $7 million grant to support two building rehabilitation projects along South Broad Street in Trenton. This funding, part of the Urban Investment Fund (UIF) Grant Program, aims to revitalize the area and boost foot traffic in the city's North Ward.
Governor Phil Murphy emphasized the importance of such investments, stating, "The Coronavirus Pandemic created economic challenges across New Jersey, particularly for small businesses and local entrepreneurs, resulting in decreased revenue along key commercial corridors." He added that through programs like the NJEDA’s Urban Investment Fund, his administration is making historic investments into cities like Trenton to promote strong and equitable economic recovery.
NJEDA Chief Executive Officer Tim Sullivan highlighted the role of these strategic investments under Governor Murphy's leadership. "The funding awarded to Trenton through the Urban Investment Fund will support efforts to revitalize the city’s South Broad Street corridor, increasing foot traffic and fostering long-term economic growth," he said.
Trenton Mayor W. Reed Gusciora expressed gratitude for this investment at a press conference held at the Roebling Machine Shop. "This transformative $7 million grant through the NJEDA’s Urban Investment Fund marks an important moment in Trenton’s ongoing revitalization efforts," he stated. The city plans to use half of the award—$3.5 million—to rehabilitate the Roebling Machine Shop.
In addition, with collaboration from the Mercer County Improvement Authority (MCIA), another $3.5 million will be used to renovate the Eagle Tavern. This project includes remediating its commercial kitchen and upgrading various facilities to return it to commercial use.
Assemblyman and MCIA Executive Director Anthony S. Verrelli noted MCIA's history as a successful redevelopment partner throughout Mercer County and expressed pride in seeing this project continue that legacy.
Mercer County Executive Dan Benson also expressed enthusiasm about partnering with NJEDA and Trenton on this project: “The Eagle Tavern has long been a priority project."
State Senator Shirley K. Turner described this investment as a significant step forward for Trenton: “This $7 million investment is not just about bricks and mortar; it is a declaration that Trenton’s future matters."
Assemblywoman Verlina Reynolds-Jackson echoed similar sentiments about state commitment toward ensuring growth within Trenton's North Ward: “Our cities prosper with new investments."
Earlier this year, NJEDA announced grants supporting community revitalization efforts in Paterson and Passaic through UIF Grant Program initiatives funded by American Rescue Plan State & Local Fiscal Recovery Funds.
