The New Jersey Business & Industry Association (NJBIA) and New Jersey Business magazine, recently honored the renovated 15-story building at 570 Broad Street in Newark with a 2006 New Good Neighbor Award.

NJBIA President Philip Kirschner presented the award to Frank James, the project’s chief engineer, at the 46th Annual New Good Neighbor Awards luncheon, held June 2 at the Sheraton at Woodbridge Place in Iselin.

“The 570 Broad Street Building is a perfect example of an urban success story,” Kirschner said.  “By renovating a classic downtown office building that had been vacant for seven years, Heritage Management has given the city a real economic shot in the arm.”

This 212,500-square-foot building is conveniently located within walking distance to Newark’s Penn and Broad Street stations, with ample parking and easy access to major highways.

In early 2004, Heritage Management Company, LLC launched a $5-million renovation using a diverse workforce including: El Taller Colaborativo, PC, a Newark-based, minority-owned architectural and engineering firm; All Action Architects, Mold and Glass, an Edison-based, minority-owned firm; and other local, minority-owned firms.

The building’s exterior was completely refaced with new curtain walls and composite panels to reflect “green building” principles of energy efficiency and conservation—a far cry from its original construction design of the early 1960s. State-of-the-art security systems and communications technology were also added.

A variety of business and retail clients employing more than 150 people have made 570 Broad Street home. Fifteen building staff workers are also employed there. Sixty percent of the tenants are new to Newark, increasing the city’s tax revenues and ancillary spending to local businesses. When the building reaches full occupancy, it will have 35 tenants and employ 1,250 people.

Reynaldo “Rey” Caudillo, president of the Morris County Hispanic-American Chamber of Commerce, nominated the project.

The New Good Neighbor Awards Luncheon annually brings together a dynamic group of builders, architects, engineers and others in the development community to honor those responsible for the State’s most impressive new commercial construction and renovation projects. An independent panel of 23 judges selected the 12 winners based on economic impact, architectural merit and community involvement.   In all, 29 applications representing more than $600 million in construction costs and 7,000 jobs were submitted.

With more than 23,500 members, NJBIA is the nation’s largest state-level employers association.  New Jersey Business magazine is NJBIA’s flagship publication.