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Paramount Assets Wraps Up Fourth Adaptive Reuse in Paterson
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The adaptive reuse of a downtown Paterson, NJ historic property is now complete, with renovated retail space and new multifamily product now part of the mix at 162-166 Main St. It’s the fourth historic preservation adaptive reuse undertaken by Paramount Assets in Paterson.
The four-story structure formerly contained street-level retail and warehouse space on the upper floors. It now houses an M&T Bank branch along with a jeweler, while the balance of the property has been converted into luxury rental apartments.
“Ultimately, we have taken a building with ‘good bones’ and positioned it to support the revitalization of downtown Paterson,” said SVP Richard Dunn of Paramount. “This city benefits from a forward-looking government committed to establishing a balanced mix of modern commercial, residential and recreational product to support a 24/7 CBD.”
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