The proposed site of a new hotel slated to be considered by the Hoboken city council — Courtesy: City of Hoboken
By Joshua Burd
A second hotel could be coming to the Hoboken waterfront under a redevelopment plan that is slated to be formally introduced to city officials later this week.
The plan, which would redevelop an underused parking lot behind the Hoboken post office on River Street, will be introduced to the city council at its April 5 meeting. A proposal unveiled recently by Mayor Dawn Zimmer says that the U.S. Postal Service has reportedly executed a purchase agreement with KMS Development Partners to sell a 0.4-acre portion of the federally owned land to build the new hotel and improvements to waterfront access and connectivity.
The plan did not details about the number of rooms in the proposed hotel.
Zimmer estimates the project would create more than 100 permanent jobs and generate over $1 million annually in real estate taxes, plus hotel taxes, on a site that is currently exempt from taxes. The project would also preserve the 116-year-old post office as a historic landmark.
“With the W Hotel often fully booked, there is a clear need for more hotel space for our families, friends, and everyone who visits Hoboken,” Zimmer said in a prepared statement. “This world-class hotel would improve pedestrian and bicycle connectivity to our waterfront, replace an eyesore with a vibrant, active streetscape with public amenities, and also provide much-needed meeting and event space for our community.”
Reports say the postal service has contracted KMS to make modifications to the existing post office building to accommodate continued postal operations, the city’s plan said. These include a new loading dock, parking for postal delivery vehicles, new mechanical wing and other improvements to the building, with the facility slated to continue as a full-service post office.
The plan would also require the redesign and reconstruction of Newark Street with wide sidewalks and streetscape features to improve connectivity to the waterfront. The project would activate the block of Sinatra Drive between Newark Street and First Street.
It will also continue the commercial development near Hoboken Terminal. In recent years, the neighborhood has been revitalized by the three-phase, master-planned Waterfront Corporate Center developed by SJP Properties, which has attracted major companies to the city.
“This project will bring tremendous benefits to the neighborhood, create jobs in Hoboken, and generate significant real estate and hotel taxes that will help to keep our taxes stable,” Council President Jennifer Giattino said. “I want to especially thank City Planner Jessica Giorgianni who has done an amazing job on this plan.”
Zimmer said the project is moving forward after Giattino and Councilman Peter Cunningham, chair of the city’s redevelopment committee, addressed some of her initial concerns.
“As Council Subcommittee Chair, my projects have always strongly supported diversifying our tax base from residential towards more commercial, and this project does just that,” Cunningham said. “I am confident we have met these challenges which will result in a win-win for Hoboken and its local businesses and residents.”
Setback requirements for the hotel are designed to narrow the building to maximize light, air, and open space and minimize shadows on Pier A Park, Zimmer said.
