Construction has begun on the $120 million project to transform Hoboken’s former Wonder Bread factory into the Wonder Lofts, a residential property featuring 89 units.
Real estate company and adaptive reuse specialist Prism Capital Partners said Thursday interior demolition has begun at the site, which dates back to 1909.
Prism is partnering with Angleo, Gordon & Co. and Parkwood Development Corp. on the three-building project designed by Minervini Vandermark.
Ultimately, Wonder Lofts will offer 83 for-sale units on Clinton Street: 68 loft-style units in one building and 15 additional units in the second building. The third building will include six affordable, multifamily rental units.
According to Prism, Wonder Lofts will feature 10,000 square feet of indoor and outdoor amenity space and 2,300 square feet of street-level retail space.
Bloomfield-based Prism anticipates the sales office at Wonder Lofts will open next spring, with the first homes ready for spring 2020.