The $8 million project transformed a once-vacant lot into a 20,000-square-foot building
TRENTON -- New Jersey Realtors officially opened its new headquarters in Trenton on Thursday, signaling a vote of confidence in the capital city's ability to turn around.
"There's so much potential for redevelopment here," CEO Jarrod Grasso, said. "We hope that we are the catalyst that brings more development into the City of Trenton."
The association broke ground on the $8 million project last summer and, over the past year, transformed the once-vacant lot across from the Sun National Bank Center into a 20,000-square-foot building.
The second and third floors house NJ Realtors staff, conference spaces and meeting rooms, while about 6,000 square feet of the ground floor will be leased out to retail and restaurant tenants.
There is a ground-level patio and a third-floor observation deck that looks out onto South Broad Street.
Trenton Mayor Eric Jackson said the building helps set the tone for the city's economic revitalization efforts.
"The NJ Realtors ... by this building that you see here and their commitment and their leadership are showing others that the capital city is that strategic place where a business can be, where a corporate headquarters can not only be here but do well," he said.
Lt. Gov. Kim Guadagno said the association's relocation to the city is another example that good things are happening in Trenton.
She pointed to projects that have already been completed or are underway, including the Roebling Lofts across Route 129, Thomas Edison State University's new Glen Cairn Hall, the African-American Chamber of Commerce of New Jersey's renovation of a historic building and the 128 West State Cafe.
She also said that with the city's designation as a growth zone and the financial incentives available to lure companies, development will continue to happen.
"People go where the numbers work first," Guadagno said. "The New Jersey Growth Zones will make that happen, the things the mayor is doing will make that happen and then they come where they feel welcome.
"I know that with the mayor, county executive and the state all working together to make sure that people feel welcome, the capital city is going to be a new place over the next decade or so," she continued.
Cristina Rojas may be reached at crojas@njadvancemedia.com. Follow her on Twitter @CristinaRojasTT. Find NJ.com on Facebook.