Long Branch buying old Santander Bank for $1.7M to give it brand new use
LONG BRANCH - The city is acquiring another bank building on Broadway, and this one will be used as the new location for the Municipal Court.
The city plans to buy the Santander building at 600 Broadway, at the intersection of Bath and Norwood avenues and Broadway for $1.7 million. Santander closed the branch on April 27. The money for the purchase comes from a state grant, city officials said. The city will introduce the ordinance to authorize the purchase at Wednesday's City Council meeting.
The building first opened in July 1949, and has been home to multiple bank chains, starting with Shadow Lawn Savings & Loan. It was purchased by Sovereign Bank in 1994, and subsequently acquired by Santander in 2013. It was one two local branches Santander closed this year. The other was in Asbury Park.
At the announcement of the closings, Santander said more of its customers are banking online and, as such, it was increasing its investment in digital capabilities while refining its branch footprint. Santander may still keep an ATM active at the Broadway location, though that detail is still being worked out.
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The city has been making plans to move the court for a while and had considered moving it to one of the buildings that were donated by Monmouth Medical Center last year. Instead, the city opted to use most of that space for its new health and technology center.
The city has been renting the first floor of the Grant Garfield building at 279 Broadway as its court for over 20 years and currently pays $135,000 a year in rent. That building itself formerly served as a hotel and, at six stories, was once the tallest building in the city.
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“The acquisition of the Santander building is yet another component in our continued efforts to revitalize Broadway and the urban spaces throughout Long Branch," said Mayor John Pallone.
Pallone said they'd like to preserve some of the uniqueness and charm of the classic art deco building while creating a space that best serves the needs of the city and its residents. The building is also across the street from the historic Oceanic Firehouse, which was the original Long Branch City Hall.
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In a previous move, Bank of America donated its building at 577 Broadway to the city. That building is now the city's Arts & Cultural Center.
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When Jersey Shore native Dan Radel is not reporting the news, you can find him in a college classroom where he is a history professor. Reach him @danielradelapp; 732-643-4072; dradel@gannettnj.com.
This article originally appeared on Asbury Park Press: Long Branch turning old Santander Bank into municipal court
