Plans for Hoboken Connect include a 389-unit apartment building on Observer Highway, with 20 percent of the homes designated for lower-income renters, as well as major enhancements to the Lackawanna Ferry Terminal Building, Warrington Plaza and the facility’s bus terminal. — Renderings courtesy: LCOR
By Joshua Burd
Construction is set to begin this month on the long-stalled project that will bring 386 apartments, a new office tower and public improvements to the blocks surrounding Hoboken Terminal.
LCOR, the master developer of what’s known as Hoboken Connect, joined state and city officials on Monday to announce the update for a plan that is nearly 20 years in the making. It comes just under two months after NJ Transit, which owns the property around Hoboken Terminal, announced the approval of a ground lease with the developer that was meant to set the stage for an official groundbreaking for the $900 million project.
Plans call for a 386-unit apartment tower on Observer Highway with 20 percent of the units reserved as affordable housing and a 21-story, 704,355-square-foot office building. The project is also slated to include 5,000 square feet of retail space and related public open space investments, including transportation improvements, historic preservation and extensive pedestrian, vehicular and bicycle improvements in addition to an upgrade of Hoboken Terminal.
“We’re proud to commence construction on Hoboken Connect, a unique project set to redefine how we approach integrating residential, commercial, transportation infrastructure and public spaces for the strongest community outcomes,” said Brian Barry, a senior vice president at with LCOR. “LCOR is honored to serve as a catalyst for innovation and sustainable development in Hoboken. Throughout this initiative, our primary focus will remain on fostering economic growth, enhancing the overall commuter experience, expanding job opportunities and enhancing lifestyles to meet the unique needs of the Hoboken community and NJ Transit commuters.”
Other recent preconstruction milestones include the state Economic Development Authority’s approval late last year of a 10-year, $90 million tax credit award for the residential phase under the high-profile Aspire program.
“We’re thrilled to see Hoboken Connect break ground, proving without a shadow of a doubt that New Jersey — and historic towns like Hoboken — are the place to be,” Gov. Phil Murphy said. “When we created New Jersey’s Aspire economic development program, it was with this type of smart planning, big thinking, job generating project in mind. Hoboken Connect is a model for interagency cooperation and smart planning, incorporating sustainability and historic preservation, while generating thousands of good-paying jobs, much-needed housing and new ratables. When coupled with NJ Transit planned improvements to Hoboken Terminal, the ease of access will ensure that Hoboken’s waterfront is the crown jewel of the region.”
According to LCOR, Hoboken Connect’s private and public components will be implemented in coordination beginning this year and simultaneously throughout the development process. The 27-story apartment building will span roughly 365,000 square feet and house amenities such as a rooftop fitness center, an entertainment kitchen, coworking spaces, dining areas and a pool.
The office tower, located at the corner of Hudson Street and Hudson Place, will have unobstructed New York City views from the George Washington Bridge to the World Trade Center, according to a news release. Amenities will include a conference facility, a tenant lounge and open green spaces, as well as open work areas, food and beverage options, outdoor loggias and interior and exterior rooftop.
Officials also point to the state’s financial commitment to redevelop large portions of Hoboken Terminal in collaboration with LCOR, which would include the activation of historically significant infrastructure such as the Lackawanna Ferry Terminal Building, Warrington Plaza and the facility’s bus terminal.
“We are excited that Hoboken Connect, one of the most transformational projects in our capital program, is officially underway!” NJ Transit CEO President and Kevin S. Corbett said. “This project will not only restore the historic Hoboken Terminal into one of the crown jewels of our rail system, but it will greatly enhance the surrounding area as well.
“We are grateful for Governor Murphy’s historic investment of $176 million in the Hoboken Connect project, which sets a new bar for transit-oriented development. We look forward to working alongside LCOR as we continue to deliver the best possible experience for our customers.”
Aside from generating tens of thousands of permanent and construction jobs, ratables and increased economic spending, Hoboken Connect will incorporate sustainable design features, the news release said. Those will include green roofs and extensive stormwater improvements and a geothermal system at the residential building, the first of its kind in New Jersey, as the developer looks to achieve certifications on the U.S. Green Building Council’s Leadership in Energy and Environmental Design scale.
“After decades of this project stalling, I’m incredibly proud that my administration has been able to work around the clock with the state, LCOR and project stakeholders to finally turn it into a reality,” Hoboken Mayor Ravi S. Bhalla said. “This redevelopment initiative will completely transform Hoboken Terminal into a world-class transit terminal, along with new affordable housing, new retail space, biking and pedestrian safety upgrades, and will substantially boost our local economy. The construction on the first phase of the project is a long-time coming, and I look forward to the eventual completion of the project.”
