Plans for Hoboken Connect include a CetraRuddy-designed, 386-unit apartment building on Observer Highway — across from the Bloomfield and Washington Street intersections — with 20 percent of the homes designated for lower-income renters. — Rendering courtesy: LCOR
By Joshua Burd
Construction is underway on the new 386-unit apartment tower that will mark a key private-sector component of a landmark, mixed-use project around Hoboken Terminal.
LCOR, the site’s master developer, welcomed its team and elected officials last week for a ceremonial groundbreaking for the 27-story building along Observer Highway. Plans call for a 365,000-square-foot high-rise known as Charlie, with floorplans ranging from studios to three-bedroom units, a host of upscale amenities and several sustainable design elements.
Notably, the tower will have 20 percent of its homes reserved as affordable housing. Renters will also be a short walk from Hoboken Terminal, the focal point of a sweeping public-private investment by LCOR and NJ Transit known as Hoboken Connect.
“With direct access to multiple transportation hubs, best-in-class amenities and sustainable design, Charlie will deliver a highly desirable living experience along the Hudson waterfront in Hoboken,” said Brian Barry, a senior vice president with LCOR. “Today’s groundbreaking is one part of our larger vision to create a transformative mixed-use development in the neighborhood — one that fosters economic growth, creates job opportunities and enhances the lives of the community. We’re looking forward to sharing additional development plans as they progress.”
The firm has tapped Consigli Construction Co. Inc. as the general contractor and secured financing from insurance accounts managed by KKR for the residential building, according to a news release. LCOR is also partnering with Salas O’Brien and Allied on the design and installation of what it says is the largest residential geothermal system in New Jersey, which will consist of 66 geothermal wells with a maximum depth of 850 feet and electric heat pumps.
The system is among several sustainable design features, which will also include green roofs and extensive stormwater improvements. Residents, meantime, will have access to nearly 15,000 square feet of amenity spaces including a first-floor lobby and lounge with a package room, a concierge and a pet spa, as well as a second-floor and rooftop amenity space with a fitness center, an entertainment kitchen, coworking spaces, dining areas and an outdoor pool.
“We are thrilled by today’s groundbreaking on this important and transformational project,” said Gov. Phil Murphy, who has helped advance the long-awaited project, conjunction with the Jan. 14 ceremony. “This project, which integrates transportation, sustainability and economic development, will provide more housing and commercial spaces as well as vibrant cultural opportunities that will enhance the Hoboken community.”
LCOR began construction last May on Hoboken Connect, which is nearly 20 years in the making and will result in a more than $900 million investment in Hoboken’s waterfront. That includes $176 million committed by Murphy and state lawmakers as part of the New Jersey Debt Defeasance Act of 2022, supporting a multiphase redevelopment that also calls for a high-end 21-story office building, 5,000 square feet of retail space and the restoration and renovation of the Ferry Terminal Building and Warrington Plaza.
The project also includes creating publicly accessible commercial and exhibition space, a new bus terminal and related public open space investments such as historic preservation and extensive pedestrian, vehicular and bicycle improvements that will enhance access to the transportation facilities.
“The Charlie groundbreaking marks an important milestone in addressing Hoboken’s critical need for affordable housing while paving the way for the revitalization of our transit hub and downtown area,” Mayor Ravi S. Bhalla said. “The Hoboken Connect project promises to breathe new life into our city, creating a vibrant mixed-use destination that prioritizes sustainability, accessibility and economic growth. I look forward to seeing this transformative vision become a reality for our community.”
Kevin S. Corbett, who stepped down last week as NJ Transit’s CEO and president, added: “LCOR’s ‘Charlie’ is a perfect example of how thoughtful development, as part of the broader Hoboken Connect project, creates unparalleled access to public transportation. This public-private partnership with LCOR will ultimately transform the Hoboken waterfront with sustainable housing, expanded access to transit and modernized infrastructure, including a new Hoboken Bus Terminal.”
Plan for ‘Hoboken Connect’ apartment tower advances with $90 million EDA tax credit
