March 30, 2018 By Nathaly Pesantez
The iconic Dime Savings Bank of Williamsburgh has been officially designed as an individual landmark.
The building, located at 209 Havemeyer Street and constructed in the early 20th century, was designated a landmark on Tuesday by the Landmarks Preservation Commission.
The LPC says the building is significant for its elegant design and for its connection to Williamsburg’s early development as a financial center.
“I am delighted the Commission has designated the Dime Savings Bank of Williamsburg,” said LPC Chair Meenakshi Srinivasan. “This fine building is a testament to the elegance and grandeur of the City Beautiful Movement.”
The building came about during a period of rapid growth in the area after the Williamsburg Bridge was completed in 1903. The Dime Savings Bank of Williamsburgh outgrew several of its locations before constructing this building, which would become their headquarters.
The LPC says the building has retained its classical design since opening in 1908, with only some alterations at the entrance and contemporary signage. The building is also an example of an early-20th century savings bank that used a classical design to “evoke a sense of security, prosperity and civic pride for a largely immigrant and low-income community,” the LPC said in a release.
“I am very pleased the LPC chose to designate the Dime Savings Bank of Williamsburgh as an individual landmark,” said Council Member Antonio Reynoso. “This historic structure has stood at the foot of the Williamsburg Bridge for over 100 years, welcoming folks to the neighborhood, and with this designation, we have ensured that it will remain in its original condition for 100 more. In a neighborhood that has experienced such drastic change in recent years, it is more important than ever that we protect our historical resources.
The Dime Williamsburgh Savings Bank will see a 22-story story mixed-use development rising next to it, which includes parking spaces, commercial space, and 178 apartments, according to YIMBY.
The adjacent site was purchased for $80 million in 2016 by Charney Construction & Development and Tavros Capital Partners. The tower is expected to be completed by spring 2019.