Construction of Roebling Lofts Under Way
- Mar 08, 2016
Trenton, N.J.—HHG Development Associates has started work on Roebling Lofts, a 138-unit apartment building in the Chambersburg neighborhood of Trenton, N.J. The project is the first phase of Roebling Center. When completed, the mixed-use development will include up to 200,000 square feet of office space, 190 loft apartments and 37,000 square feet of restaurant and retail space.
The loft project involves the conversion of the shuttered 99-year-old Roebling’s Sons Company factory, which was founded by sons of the designer of the Brooklyn Bridge, John A. Roebling, and which manufactured wire rope used for suspension bridges, aviation, and other applications. The renovation entails new, high-performance windows and roof, green finishes and materials, and high-efficiency HVAC, electrical and plumbing systems.
Roebling Lofts will begin occupancy in the spring of 2017, and will be managed by Pennrose Management Co. The factory lofts will feature designs with ceiling heights up to 20 feet and windows 10 feet wide and up to 14 feet tall. Every unit provides living space on two levels, connected by a spiral stair. Monthly rents for one-bedroom lofts will start at $1,140, and two-bedroom units at $1,590.
“We’re not trying to build luxury apartments in the usual sense,” said David Henderson, principal of HHG. “We’re creating lofts to appeal to residents looking for a diverse urban location at rents that represent real value.”
HHG acquired the site from the Mercer County Improvement Authority under the terms of a redevelopment agreement. The lead investor is Fulton Bank of New Jersey, which is providing construction debt, long-term debt and tax-credit financing, and the Bank of Princeton is also participating in construction and long-term debt financing. The NJ Economic Development Authority awarded the project more than $16 million in tax credits.
According to the developer, the concept will provide a mix of live and work spaces and is the type of development that will spur other new projects in Trenton. The project is within close proximity to the Sun Bank Arena, and the Hamilton Avenue RiverLine station is on-site.