Summary
FOR TWO decades, Passaic's tallest building has also been its emptiest. The Bank Tower at 663 Main Ave., an 11-story Art Deco structure that dominates the city's modest downtown, once housed law firms and medical offices. But as their numbers dwindled, its owner opted to shutter the asbestos-ridden building rather than invest in sorely needed upgrades.
It soon became an expensive eyesore, and the city stepped in. Passaic took a big risk on the tower, spending $4.4 million in Urban Enterprise Zone funds to acquire it through eminent domain and make long-overdue renovations, in the hopes of attracting a buyer.See the full content of this document
Extract
In the Bank
It seems, if plans reported this week by Staff Writer Richard Cowen come to frui...
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