Ex-Wonder Bread Factory Continues $120M Rebirth In Hoboken

HOBOKEN, NJ — A $120 million effort to turn a former Wonder Bread factory in Hoboken into a condo complex is ramping up, with plans to deliver the project’s first homes in the spring of 2020, developers announced Thursday.

The historic Wonder Lofts building on Clinton Street – which formerly housed a factory for the well-known company – is in the process of conversion into a three-building, 89-unit residential complex. Bloomfield-based Prism Capital Partners is partnering with Angelo, Gordon & Co. and Parkwood Development Corp. on the project.

Interior demolition is underway as of this week, according to Prism Capital Partners. They anticipate opening the Wonder Lofts sales office in the spring of 2019.

• See related article: Plan For Ex-Wonder Bread Factory In Hoboken Gets $120M Boost

According to Prism Capital:

“The property, designed by Minervini Vandermark, will feature preserved, architecturally significant detail. The conversion of the existing seven-story buildings will introduce 68 luxury condominium units. The two- to five-bedroom loft-style homes will range in size from 1,200 to 2,700 square feet. All will feature private direct-access terraces or rooftop terraces with water electric and gas hookups. The second building will be built on the corner of 8th and Clinton streets. That five-story structure will include 15 additional condo units. A third building, also located on Clinton Street, will include six affordable rental apartments on five stories.”

Developers said that when complete, Wonder Lofts residents will have access to 10,000 square feet of indoor and outdoor amenity space including a fitness center, pool, meeting/media rooms, lounges, kitchens and entertainment areas. The community will also include 2,300 square feet of street-level retail fronting on Clinton and “ample on-site garage parking.”

“We are thrilled to make our foray into the Hoboken multifamily market with this highly anticipated project,” said Eugene Diaz, a Prism Capital Partners principal partner. “As multifamily demand continues unabated, projects like this are serving to reduce New Jersey’s sizeable inventory of obsolete industrial space while producing new and distinctive housing options in key markets. Wonder Lofts will be no exception.”

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Main artist rendering courtesy of Gasthalter & Co.