NJEDA Awards $7M to Revitalize Trenton’s South Broad Street Corridor

The Urban Investment Fund award will support two key rehabilitation projects, supporting post-pandemic economic recovery

TRENTON, N.J. (June 6, 2025) – New Jersey Economic Development Authority (NJEDA) Chief Executive Officer Tim Sullivan joined Trenton Mayor Reed Gusciora and city officials today to announce a grant award under the Urban Investment Fund (UIF) Grant Program to the City of Trenton. The $7 million award will support two building rehabilitation projects along South Broad Street in the city’s North Ward, supporting revitalization efforts and promoting increased foot-traffic along a key commercial corridor. 

“The Coronavirus Pandemic created economic challenges across New Jersey, particularly for small businesses and local entrepreneurs, resulting in decreased revenue along key commercial corridors,” said Governor Phil Murphy. “Through programs like the NJEDA’s Urban Investment Fund, our Administration continues to make historic investments into cities like Trenton, ensuring communities have the funding necessary to promote a strong and equitable economic recovery.”  

“Under Governor Murphy’s leadership, the NJEDA continues to catalyze economic growth in communities most impacted by the pandemic through strategic investments that create jobs, support small businesses, and uplift our downtowns and main streets,” said NJEDA Chief Executive Officer Tim Sullivan. “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.”

The grant award was announced today at a press conference at the Roebling Machine Shop. The City of Trenton will utilize half of the award – $3.5 million – to rehabilitate the building, preserving a critical part of the city’s history while establishing an economic engine along South Broad Street for creative uses.

“This transformative $7 million grant through the NJEDA’s Urban Investment Fund marks an important moment in Trenton’s ongoing revitalization efforts,” said Mayor W. Reed Gusciora. “Reviving the Roebling Machine Shop and the Eagle Tavern is more than just improving buildings; it’s about creating opportunities, restoring pride, and building a stronger future for residents and businesses. We’re incredibly grateful to Governor Murphy’s administration for this investment. Together, we’re making real progress towards an even greater Capital City.”

In addition, the city plans to partner with the Mercer County Improvement Authority to renovate the Eagle Tavern with the remaining $3.5 million in UIF funding. The project will remediate the commercial kitchen, improve access between the first and lower floors, and upgrade the HVAC system, among other changes, returning the historic building to commercial use.

“Since its inception, the MCIA has had a storied history of being a successful redevelopment partner throughout Mercer County,” said Assemblyman and MCIA Executive Director Anthony S. Verrelli (LD-15).“From the Mercer County Courthouse, The Cure Arena, to most recently the Hamilton Municipal Complex, the projects we’ve supported are known to be both transformative and vital to both the communities they’re located in and Mercer County as a whole. I’m proud to see the project follow that legacy and I look forward to its completion.”

“The Eagle Tavern has long been a priority project, and we are thrilled to partner with the NJEDA and the City of Trenton to bring this historic site back as a functioning bar and eatery,” said Mercer County Executive Dan Benson.

Through the UIF Grant Program, the NJEDA provides grants to eligible municipalities to implement a revitalization strategy to respond to decreased foot traffic and revenue due to the pandemic by helping cities enhance vitality. Projects supported by the program can include building rehabilitation projects, building reuse studies, and public space use investments in key commercial corridors. Funding for this program was provided through American Rescue Plan State and Local Fiscal Recovery Funds.

“This $7 million investment is not just about bricks and mortar, it is a declaration that Trenton’s future matters. The city has faced decades of economic hardship, compounded by the effects of the pandemic, yet its communities have remained resilient,” said State Senator Shirley K. Turner (LD-15). “These rehabilitation projects represent a bold step forward in restoring pride, purpose, and prosperity to South Broad Street. They honor Trenton’s history while laying the foundation for inclusive growth and lasting opportunity. Trenton deserves nothing less than full revitalization, and this investment is a powerful step toward that promise.”

“By embarking on these revitalization projects, the state is showing its commitment to ensuring that Trenton’s North Ward continues to grow and thrive,” said Assemblywoman Verlina Reynolds-Jackson (LD-15). “Our cities prosper with new investments, and I’m looking forward to seeing the South Broad Street business community expand.”

In March, the NJEDA announced two grant awards to support community revitalization efforts in Paterson and Passaic through the UIF Grant Program. More information on the program can be found here.

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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