A historic New Jersey building designed by Ralph Walker will soon be transformed by architecture firm CetraRuddy, known for their conversion and restoration projects in Manhattan, into a mixed-use building featuring apartments, offices and retail.
The massive 436,000 square foot tower, located at 540 Broad Street in Newark was designed in 1929 for the New Jersey Bell Telephone Company. In 2005, the building's exterior and lobby were added to the U.S. National Register of Historic Places. In recent years, the building has been home to Verizon's regional headquarters.
The 20-story building will now be transformed to include 260 apartments, a section of which will be affordable, and 60,000 square feet of retail, and offices — Verizon will continue to be a tenant at the building, and CetraRuddy will preserve many of the historic details of the building as part of their conversion.
"This is an incredible landmark of this city and a national treasure, and we are delighted to help bring it new life," John Cetra, the founding principal of CetraRuddy, said in a press release. "For Newark, this visionary project brings new vibrancy and economic vitality to Newark’s downtown center, while also preserving its renowned historic character."
For CetraRuddy, this isn't their first Walker conversion. They also worked on the conversions of Walker Tower on West 18th Street and Stella Tower at West 50th Street. This current project is being developed by 540 Broad Street Owners LLC, along with L+M Development Partners and Prudential Financial, Inc.