The Brutalist style building was built in 1966 during the New Newark era by the Mutual Benefit Life Insurance Company and the George A. Fuller Company and was once known as the Fidelity Union Building, after the company which occupied it.[7] In 2000, the Heritage Capital Group purchased the tower and implemented a multimillion-dollar renovation-modernization in 2001, winning the state's Building of the Year award. While Heritage sold 80% interest in 550 Broad Street in 2005, it retains 20 percent ownership and acts as executive operating partner and on-site manager.[8][9] The company also renovated nearby 570 Broad Street.[10] As of 2012 the major tenant for the building is IDT, which is owner of the nearby Mutual Benefit Life Building.[11]
^Lindner, Linda. "Well-known Geraldine R. Dodge Foundation moving HQ to Newark, continuing its legacy of dismantling inequities", ROI-NJ.com, December 14, 2023. Accessed December 18, 2023. "The Geraldine R. Dodge Foundation, after 50 years of supporting organizations across the state, is relocating its headquarters from Morristown to Newark, where it can further immerse itself and strengthen its impact in dismantling systemic inequities. The Dodge Foundation, a longstanding private foundation committed to supporting organizations and leaders addressing the root causes and repair of structural racism and inequity in the state, will be taking space at the Fidelco Realty Group’s historic 550 Broad St. building as it recognizes 50 years of impact in 2024."
