The classic four-story building in Boonton, originally constructed in 1875 as Pelgram & Meyers Silk Mill before becoming the longtime home of Packard Industries, is now undergoing major transformation. This would not have been possible without a major effort on the part of the developer, assisted by Resource Realty’s Scott Peck and Greg Sabato, to rezone the property from office/industrial to residential. Peck and Sabato, enthusiastically on board with the vision of maintaining the historical elegance of the 76 Monroe Street building, represented Packard Industries in the sale of the property and worked with Mayor Matthew DiLauri in support of the development project.

 Adaptive re-use of the existing 47,598 square-foot Packard warehouse will preserve the existing footprint of the building, maintaining window patterns of the facade, and, combined with partial new construction, transform it into 62 residential rental apartments with a connected parking structure and open spaces. New pedestrian walkways will provide connectivity to Main Street and pedestrian access to the Rockaway River. The NJ Transit Station of the Montclair-Boonton line is less than ½ mile from 76 Monroe Street.

 The project, currently under construction, is anticipated to bolster the Town of Boonton’s effort to gain Transit Village status, a program sponsored by the New Jersey Department of Transportation that provides incentives for municipalities to redevelop or revitalize areas around transit stations. Boonton is seeking to establish a central transit zone district as part of its overall transportation vision for the community, with a goal of increasing usage of the NJ Transit passenger rail station.