Renovations Started At Paterson Building

Goodale and Barbieri is refurbishing the downtown Paterson building to make room for new stores and a national student loan center.

G&B bought the building adjacent to the Crescent Court at Main and Post in September for $1.2 million from the Paterson family trust. Renovations began in October.

The 50,000-square-foot building has five floors, including a full basement. Retail stores will occupy the first and second floors, Tom Barbieri said.

The Sallie Mae student loan center, which occupies 30,000 square feet in the fourth floor of Crescent Court, will lease an adjacent 10,000 square feet in the Paterson building. No plans have been made for the third floor, Barbieri said.

Barbieri would not say which retailers might move in, but admitted to talking with representatives from Banana Republic, a clothing chain owned by The Gap, and Barnes and Noble bookstore.

“We’re certainly looking to put a name store there,” Barbieri said. “That’s going to shake out early next year.” , DataTimes