From the Block to the Boardroom: How Tracey Syphax Is Building an Economic Future in Trenton

Tracey D. Syphax is an award-winning entrepreneur and real estate developer who transformed his life after serving seven years in prison, building a multimillion-dollar business portfolio.

As founder of the construction firm Capitol City Contracting and co-founder of the real estate development company Phax Group, LLC, Syphax has expanded his business interests into property management, commercial snow removal and entrepreneurship education for incarcerated individuals.

His business success has earned him several major honors. In 2011, he became the first African American to receive the Princeton Regional Chamber of Commerce’s Entrepreneur of the Year award in the organization’s 51-year history. Three years later, he was recognized as a White House “Champion of Change” under President Barack Obama’s administration.

But Syphax isn’t finished building. With a vision for Trenton’s economic future, he wants to expand his business interests while helping the next generation of entrepreneurs establish lasting businesses.

From Prison to Entrepreneurship

After leaving prison, Syphax set out to change the direction of his life. He launched Capitol City Contracting in 1995, laying the foundation for a business career that would eventually extend beyond Trenton.

“Back in the ’80s, I started a roofing business, but it was a front because I was selling drugs. Sure, that was my first,” Syphax told the Trenton Journal.

“In 1995, two years out of prison, I launched my first business, Capitol City Contracting. Scaling it from zero to $1.8 million by 2002 was the springboard that launched my career.”

Over the next three decades, Syphax expanded his business interests while continuing to invest in his hometown. But he says doing business in Trenton hasn’t always been easy.

Having spent much of his life in the city, Syphax believes Trenton has significant economic potential. He also argues that local government needs to do more to support entrepreneurs and developers who want to invest in its neighborhoods.

“I’ve been doing business in the city for over 30-something years, so I’ve seen the good and the bad. I grew up on Stuyvesant Avenue, Trenton, New Jersey, West Trenton. I probably lived in nine different parts of West Trenton as a young man growing up because my mom kept moving from place to place,” Syphax explained.

“It’s got residential houses, but it has about 13 businesses on that strip. Back in the ’70s, Black people owned all those businesses. I worked for two of them.”

Syphax said his efforts to redevelop several properties along Stuyvesant Avenue encountered resistance.

“As a developer, someone who’s developed thousands of properties here in the city, I put in a request to redevelop nine lots on Stuyvesant Avenue. I thought I made a decent proposal, but they gave me pushback. So, I resubmitted another offer.”

He believes his experience as a longtime developer should make navigating the city’s development process easier.

“As someone who’s been doing business in the city for over 30 years, building private homes, redeveloping properties, and selling properties—it should not be hard for me to do business.”

Expanding Beyond Trenton

While Trenton remains central to his business interests, Syphax has expanded into neighboring markets, including Philadelphia.

In March 2023, Syphax and his wife, Cheri, purchased Booker’s Restaurant & Bar and the adjoining Bayou Lounge in West Philadelphia for $3.3 million through Phax Entertainment Group, LLC.

The acquisition marked the couple’s entry into the hospitality industry.

Booker’s, which opened in 2017, was previously owned by entrepreneur Saba Tedla. Syphax said Tedla wanted to spend more time with her family while ensuring the restaurant remained under Black ownership.

“Booker’s has been around for 10 years now, and seven years before we bought it. It was owned by Saba Tedla, and it was her second successful restaurant that she built,” he said.

“She was a single parent with two boys, and she was saying she wanted to spend time with her two boys, but I want to sell this restaurant to a Black owner.”

For Syphax, the decision to purchase the restaurant came down to its financial performance and potential for growth.

“Once I looked under the hood at the numbers, she was grossing $2.3 million a year. When we bought it, it was pretty profitable,” he said.

“We wanted to make it more profitable and didn’t change anything, and that’s what we did. In three years, sales have gone up 23%.”

Syphax said the restaurant has maintained its popular menu, including customer favorites such as mango salmon and seafood mac and cheese.

Although he had no previous experience owning a restaurant, Syphax said his background in entrepreneurship prepared him for the challenge.

“I’m not a restaurateur, but I own four different businesses. I teach entrepreneurship. So, I’m capable of running the business,” he said.

Building Businesses That Last

Beyond construction, real estate and hospitality, Syphax has made entrepreneurship education an important part of his work.

Through his memoir, From the Block to the Boardroom, and his work as a speaker and mentor, he shares lessons from his journey from incarceration to business ownership.

His message to aspiring entrepreneurs, particularly those operating informal businesses, is that long-term success requires more than generating income. It also requires building a legitimate business that can grow and create generational wealth.

“I try to teach people how to run legitimate businesses. There are two economies: the underground economy and the mainstream economy. I always tell people that if you want to build a lasting legacy, you have to transition out of the underground economy and into the mainstream,” Syphax said.

“Right now, so many people in our community operate strictly under the radar—whether they are selling meals out of their kitchen or doing hair in their living room.”

He believes formalizing those businesses can help entrepreneurs establish something that lasts beyond their own involvement.

“But if something happens to that person, that’s not you; you can’t pass that wealth down,” he said.

“The hustle that they had dies along with it, and you know, I just really try to tell people that I work with, you gotta legitimize your business.”

For Syphax, entrepreneurship is not simply about personal financial success. It’s also about creating opportunities for others, particularly people who have faced barriers to employment and business ownership.

Betting on Trenton’s Future

Although his business interests have taken him beyond New Jersey, Syphax remains committed to Trenton and its economic future.

Having witnessed decades of change in the city, he believes Trenton has the location, transportation infrastructure and entrepreneurial talent needed to attract new investment.

But he also believes political leadership will play a critical role in determining whether the city reaches its potential.

“Having lived in Trenton for over 60 years, I’ve always believed in this city and its potential. It is ideally situated between New York and Philadelphia, with the Trenton Transit Center offering direct access everywhere from Boston to South Florida,” Syphax said.

“Trenton’s best days are still ahead—we just need the right political leadership in office to help the city reach its full potential.”

Originally published in Trenton Journal’s Fall 2026 Collector’s Edition. Purchase your copy at Classics Used Book Store, Out of Step Boutique, or TrentonJournal.com.