Developer Receives $5 Million to Complete Restoration of Williamsburgh Savings Bank

Developer Juan Figueroa has secured an additional $5 million loan to restore the landmarked Williamsburgh Savings Bank on Broadway in South Williamsburg, Free Williamsburg reported. The blog spied a press release about the loan from Emerald Creek Capital late last month. The restoration of the iconic 1875 building with a gold dome has been in the works for years. Figuero, who also owns a hostel in the area, plans to turn the property into an event space and museum. Next door he is planning a 40-story hotel but has yet to secure financing for the project.

Williamsburg Savings Bank Secures $5 Million to Complete Restoration [Free Williamsburg]
Giant Hotel Going in Next to Williamsburgh Savings Bank [Brownstoner]
Checking in on the Williamsburgh Savings Bank Reno [Brownstoner] GMAP
Photo by Christopher Bride for PropertyShark