The New Jersey Economic Development Authority (NJEDA) has committed $7 million in Urban Investment Fund grants to Trenton, aiming to transform key sites along the city’s historic South Broad Street and reignite economic activity in the state capital.
The investment will support the rehabilitation of two landmark buildings: $3.5 million will go toward restoring the long-vacant Roebling Machine Shop, and the remaining $3.5 million will fund the revitalization of the Eagle Tavern. Both sites sit in Trenton’s North Ward and have long been viewed as critical to the area’s revitalization potential.
“The pandemic created economic challenges across New Jersey, particularly for small businesses and local entrepreneurs,” said Governor Phil Murphy. “This investment helps reverse that trend by strengthening our commercial corridors and providing a pathway for inclusive recovery.”
NJEDA’s Urban Investment Fund Grant Program targets urban municipalities hit hardest by COVID-19, supporting projects that create jobs and attract small business investment. “This is about catalyzing long-term growth in the places that need it most,” said NJEDA CEO Tim Sullivan. “It’s not just about infrastructure—it’s about the economic momentum we can generate by revitalizing these spaces.”
Mayor Walter Reed Gusciora framed the project as a turning point for Trenton’s future. “This is about more than improving buildings,” he said. “It’s about restoring pride, building opportunity, and laying the foundation for a stronger Trenton.”
State Senator Shirley K. Turner echoed that sentiment, calling the investment a tribute to the city’s past and a signal of what’s to come. “These buildings are part of Trenton’s identity,” she said. “Restoring them means preserving history while opening doors for growth and community investment.”
The Trenton funding follows a $12.7 million grant to Paterson and Passaic earlier this year, part of NJEDA’s broader strategy to fuel economic development in New Jersey’s urban cores through place-based investment.
