Victoria Foundation sets up Newark HQ at Fidelco’s Broad Street building

Established nearly 100 years ago, the Victoria Foundation says it is one of the oldest private foundations in America. With a commitment to supporting residents of the state’s largest city in accessing housing, employment opportunities and arts programs and more, that work will now come from the organization’s headquarters at 550 Broad St. in Newark.

Fidelco Realty Group, the owner and operator of the property, announced Victoria Foundation‘s new base March 30.

“Victoria Foundation and Fidelco have similar goals,” said Marc Berson, chairman of Fidelco Realty Group, in a statement. “Our innovative and inclusive approach to workspaces will allow businesses born in Newark to stay in Newark.”

A developer of other landmark renaissance projects in the city, Fidelco Realty’s work includes 1 Washington Park, 494 Broad St., RockPlaza Lofts and others. The Millburn-based company said it strives to make a positive impact through landlord-tenant partnerships.

Melba’s 550

Last year, Celebrity chef Melba Wilson announced she would bring her fried chicken and catfish to the Brick City, signing a lease to occupy the former First National State Bank space at 550 Broad St. Read more here.

“We are supporting the community while providing an opportunity for startups, not-for-profit organizations and corporations to open and expand,” Berson added.

At 500 Broad St., creative floor plates and unique amenities offer options for challenging times. Other not-for-profit tenants at the property include: LISC, Big Brothers Big Sisters of Essex, Hudson & Union Counties; and The Wight Foundation.

According to Victoria Foundation Executive Officer Craig Drinkard, the move – from 31 Mulberry St. – sets the stage for the group’s future.

“The Victoria Foundation is excited to begin our next chapter in a new space that can accommodate our growing staff, and positions us to more effectively work toward our mission of championing bold solutions for a thriving Newark,” he said.

Victoria Foundation partners with Black and Brown residents and other marginalized communities and nonprofit organizations in Newark to strengthen community power, foster economic justice, promote youth self-determination and respond to pressing needs.

According to its website, the group awards approximately 12 million in grants each year.