As early as June 1st, the Hoboken City Council will consider voting on a redevelopment agreement, amended redevelopment plan, and financial agreement for a PILOT related to a Bijou Properties project at 7th Street and Jackson Street within the Northwest Redevelopment Area. The project will include the creation of 2 acres of public open space with more than 250,000 gallons of underground stormwater detention and infiltration as well as a multi-use public gymnasium.

“This project will bring two acres of much-needed open space to western Hoboken while making our city more resilient to flooding,” said Mayor Dawn Zimmer. “The outdoor amphitheater and plaza for events and seasonal markets will create a vibrant gathering space that will also support the artists and small businesses in the adjacent Monroe Center.”

The Administration and City Council Community Development Subcommittee have worked closely together to negotiate a project that is financially feasible while providing several public amenities. The public benefits from the project including land acquisition and remediation, flood prevention infrastructure, and construction of the public park/plaza and gymnasium with stormwater system are valued at over $26 million. The agreement requires that the remediation and development of the public park area south of 7th Street and construction of the gymnasium be completed first.

Elements of the project include:

• Construction and conveyance of amenities to the City of Hoboken for recreation and open space, including:
– Approximately 1 acre public park consisting of an open grass area in the manner of a “Quadrangle” on a college campus; public seating area; and children’s play area, including age appropriate play equipment set on a rubberized safety surface with modern fencing;
– Approximately 1 acre public plaza including step seating, with a tilted lawn panel for relaxing and passive gatherings, and a large plaza area designed to accommodate vendors and seasonal markets;
– A 6,835 square foot multi-use public gymnasium with a classic field house design;

• Significant stormwater detention under the public park and plaza areas to help address the flooding issues in the area;

• Improvements to 7th Street utilizing Belgian block-style accents and a tabled roadway to create visual continuity between the properties to the north and south of the street, to encourage vehicle calming in the area, and enhance the sense of community that is intended;

• Extensive soil and groundwater remediation;

• Construction of a mixed-use residential and commercial structure; ranging heights of structure with a maximum of 14 stories and a maximum 60 ft. base;
– 424 rental residential units, including 42 (i.e. 10%) on-site affordable housing units to be deed restricted for a minimum 40 year period;
– Between 23,700 and 33,000 sq. ft. of retail space;
– 415 on-site parking spaces for residential, commercial and transient uses
– 75 parking spaces to be made available on a shared-parking, non-reserved basis for use by tenants of Monroe Center

Additional project documents are available on the City website:

• Project Update Memo from Director Forbes: www.hobokennj.org/docs/communitydev/Memo-Project-Update-Monroe-Center-Redevelopment-4-27-16.pdf
• PILOT Fiscal Review: www.hobokennj.org/docs/communitydev/Fiscal-Report-on-Monroe-Center-PILOT-4-21-16.pdf