The path to its latest incarnation just got easier for the  historic Dime Savings Bank of Williamsburgh’s full restoration as part of Charney Construction and Tavros Capital’s development of a new 22-story residential tower next door at 209 Havemeyer Street. As New York Yimby reports, on Tuesday the Landmark Preservation Commission gave the go-ahead to the proposed design for the new development in the Williamsburg neighborhood and agreed to designation hearings for the historic building as a new landmark.

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The Dime, rendering courtesy Fogarty Finger Architecture and Interiors.

6sqft reported in May that a 23-story mixed-use tower was headed for one of Williamsburg‘s most closely-watched developments, the site anchored by the Neoclassical-style Dime Savings Bank of Williamsburgh building at 209 Havemeyer Street at the foot of the Williamsburg Bridge. Now, New York Yimby reveals new renderings courtesy of the project’s architects, Fogarty Finger Architecture and Interiors. In addition, the site’s developers, Charney Construction & Development and Tavros Capital Partners, have received a $150 million loan to restore the historic bank and build the new tower. According to The Real Deal, the loan coincides with the closing of the purchase of the bank building itself–the site’s final parcel–for $12 million.

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Rendering of The Dime at 209 Havemeyer Street; rendering via Fogarty Finger Architects

We know a little bit more of what to expect at one of Williamsburg‘s most important developments: The south ‘burg site at 209 Havemeyer Street between South Fifth and Sixth Streets at the foot of the Williamsburg Bridge, anchored by the Neoclassical-style Dime Savings Bank of Williamsburgh building, will be getting a 23-story mixed-use tower with retail, office and residential space, CityRealty.com reports. The 109-year-old historic bank building will be preserved and restored, and will be integrated into the project at its podium according to details published by the developers. The 340,000 square-foot project will be known as the “the Dime.”

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