One of the most all-important redevelopment plans in Hoboken is coming back to the limelight, but there are some twists. For years, Hoboken NJ has placed this project on the backburner. Now the most critical aspect of the redevelopment plan is coming back into the spotlight.
This 15th of October 2019 was when the officials held a public workshop where the possible amendment to the Hoboken Yard Redevelopment Plan was discussed.
This plan has a long history of public involvement (originally implemented in 2014), encompassing several structures used by NJ Transit, the entity which owns the larger part of the property. The goal is aimed at creating a true mixed-project that will help diversify the local economy, revitalize the Hoboken Terminal and Observer Highway, while supporting local businesses in conjunction.
According to the presentation, flood mitigation measures are a focal point of the proposition, in addition to other key elements under consideration such as public space usage, minimum requirements for three-bedroom family-oriented housing units, and affordable housing for families looking to remain in Hoboken.
The city officials are currently pondering an amendment to the plan which can result in the less overall development and fewer residential areas. This means if the amendment works, there are chances that getting housing will become competitive and early birds will benefit more. Try to be part of the early birds that will get housing in Hoboken so you can benefit from the development too. The proposed project will have protection structures in place within certain areas.
City officials made it clear the proposal includes two 300+ buildings that equate to about 1 million square feet. One of the two buildings will be commercial, and the other will be residential. There are no plans for additional building which is why consumers seeking residential housing should take action immediately. Supply and Demand.