Mercer Town Gets Grant To Buy Hotel For Revitalization Project

MERCER COUNTY, NJ — Trenton recently received up to $4 million to buy a vacant hotel for a redevelopment project, the New Jersey Economic Development Authority said.

The property located at West Lafayette Street, will be converted into a mixed-use development with hotel, residential, and commercial uses.

Trenton is both a Government Restricted Municipality and a Transitional Aid community and is thus eligible for up to 100 percent of appraised property value costs.

“Since taking office, Governor Murphy has been dedicated to boosting the economic prospects of New Jersey’s communities, creating jobs for local residents, and generating vital tax revenue for municipalities,” NJEDA Chief Executive Officer Tim Sullivan said.

“The projects supported through the Local Property Acquisition Grant Program will help advance local economic development initiatives throughout the state by transforming unused real estate into vibrant commercial spaces and community hubs.”

First approved in 2023, the Local Property Acquisition Grant Program is a competitive grant program that will provide funding to municipalities, municipal entities, counties, county entities, and/or nonprofit local economic and community development entities for the acquisition of a vacant site, building, facility, or collection of properties.

Through this funding, awardees develop or redevelop sites with the intention of supporting local or regional economic development priorities.

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