Trenton, N.J. - On September 6, it was announced Old Cook School (40 Cuyler Avenue) is officially under new ownership with plans to renovate the blighted property into a residential building. The school was originally built in 1910 and served as one of the City’s elementary schools until 1990.
“We are excited that this long abandoned neighborhood eye-sore will once again breathe life into the city,” said Mayor Gusciora. “The building will house families and seniors in close proximity to transportation networks.”
In December 2021, the property was auctioned for $770,000 at the last City public online auction administered by the auction company, Max Spann. Due to the political climate in Trenton, specifically the unpredictability of the previous City Council's actions regarding redevelopment, the Buyer had several reservations about moving forward with the purchase and redevelopment of the site.
Over the past several months, the Department of Housing and Economic Development staff worked tirelessly to keep the real estate transaction alive. Through their efforts, the Buyer obtained a preliminary site plan approval for the proposed redevelopment project from Trenton's Zoning Board in June 2023, which gave the Buyer the assurance needed to move forward with the transaction.
“We recognize the city’s economic success depends upon redevelopment, reinvestment, and renewal,” said Mayor W. Reed Gusciora. “This project will move help provide new housing options for current City residents as well as newcomers, all of whom will share in the prosperous future Trenton has to offer. My thanks to our Department of Housing and Economic Development for remaining dedicated to getting this transaction through; their work will make such a difference to the families who will soon call the former Old Cook School home.”
According to the new owner, the proposed plan for the building is a 44-unit residential multifamily mix with some amenities on the lower level while preserving the original façade, at free market rates.
Since the start of the year, the Department of Housing and Economic Development has made over $818,000 in revenue from the public auction process. The Department is currently finalizing the terms and conditions of the RFP for an auction company to assist the City in the planning and facilitating of the next public online auction.