Construction on Hoboken Connect, the most significant, transformative economic redevelopment project along the Hudson Waterfront in generations, will begin this month, according to LCOR, the real estate development firm in charge of the project.
The $176 million project will bring a mixed-use campus development with numerous attributes, including:
- A residential building consisting of 386 apartments with 20% dedicated as affordable housing;
- A 21-story, state-of-the-art office building with an expansive rooftop terrace and loggias;
- 5,000 square feet of retail space;
- Related public open space investments, including transportation improvements, historic preservation;
- Extensive pedestrian, vehicular and bicycle improvements.
Officials said Hoboken Connect is a multiphased initiative that will deliver a mix of private and public components, all of which will be implemented in coordination beginning this year, with both public and private improvements being advanced simultaneously throughout the duration of the development.
When complete, the project is expected to produce a more than $900 million investment in Hoboken’s waterfront, generating both directly and indirectly tens of thousands of permanent and construction jobs, ratables and increased economic spending, driving economic development locally as well as county and statewide.
In addition, the financial commitment to redevelop large portions of Hoboken Terminal from the state of New Jersey and New Jersey Transit, in collaboration with LCOR, will transform the waterfront. The activation of historically significant infrastructure such as the Lackawanna Ferry Terminal Building, Warrington Plaza and Bus Terminal will collectively help to enhance intermodal connectivity, improve the customer experience, generate operational efficiencies and yield overall increases in ridership.
Gov. Phil Murphy said he was thrilled to see the project — on the drawing board for decades — take one step closer to completion.
“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,” he said.
He also was happy to see the Aspire program help get it to the starting line.
“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,” he said. “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’s planned improvements to Hoboken Terminal, the ease of access will ensure that Hoboken’s waterfront is the crown jewel of the region.”
Brian Barry, a senior vice president at LCOR, said the company is eager for the challenge.
“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,” he said. “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.”
The development will feature a Class A, 27-story, mixed-use building featuring 386 residential units, of which 20% will be affordable. Encompassing roughly 365,000 square feet, the residential portion will also include dedicated space for ground-floor retail. The wide range of amenities include a first-floor lobby and resident lounge with package room, concierge and pet spa, as well as a second floor and rooftop amenity space that includes a fitness center, entertainment kitchen, coworking spaces, dining areas and pool.
The 21-story, 704,355-square-foot Class A office building will offer expansive unobstructed New York City views from the George Washington Bridge to the World Trade Center on highly efficient floor plates ranging in size from 30,000 to 40,000 square feet, with an additional 4,330 square feet dedicated to ground-floor retail space.
Amenities will include a conference facility, tenant lounge and open green spaces, open work areas, food and beverage options, outdoor loggias, interior and exterior rooftop space with irreplaceable 360-degree views of the Hudson Waterfront and New Jersey, and a state-of-the-art bike room with locker room and shower facilities.
Hoboken Connect will represent a forward thinking, world-class transit-oriented development that will incorporate a slew of sustainable design features, LEED Gold and Silver office and residential buildings, green roofs and extensive stormwater improvements, and a geothermal system at the residential building, the first of its kind in New Jersey.
NJTransit CEO Kevin Corbett is thrilled.
“We are excited that Hoboken Connect, one of the most transformational projects in our capital program, is officially underway,” he 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 Gov. 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.”
Hoboken Mayor Ravi Bhalla said the city can’t wait to watch the project develop.
“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,” he 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.”
