'Hoboken Connect' Development At Train Terminal Is On Track: Here's What's In It

HOBOKEN, NJ — After several twists and turns, a plan for a massive development at the Hoboken Train Terminal, near the border between Hoboken and Jersey City, is back on track. The City Council gave the green light for a redevelopment agreement for "Hoboken Connect" at their meeting Wednesday evening.

The project, which had stalled for 15 years, was jump started through cooperation between NJ TRANSIT, LCOR, Hoboken, and the state of New Jersey.

It will include a mixed use residential building consisting of 389 apartment homes with 20 percent dedicated as affordable housing; a 20-story office building with a rooftop terrace, 5,000 sq. feet of retail space and related public open space investments, including additional pedestrian, vehicular and bicycle improvements.

Public investments will include construction of a new bus terminal on Hudson Place, significant rehabilitation of the first and second floors of the Ferry Terminal for commercial and exhibition space, the redevelopment of Warrington Plaza, and improvements to Hudson Place to support bicycle and pedestrian access to the transportation facilities.

Gov. Phil Murphy has committed $176 million in the 2023 state budget for the public improvement phase.

All improvements will be made utilizing historic preservation guidelines where applicable, the developers said.

“The governor and I are proud of this redevelopment in Hoboken and the economic benefits it brings,” said Acting Gov. Sheila Oliver on Thursday. “The Murphy Administration is focused on strengthening our state from the inside out. We look forward to all the benefits the redevelopment project will bring to the Hoboken community and broader region.”

"The state's multi-million-dollar investment into our community will be transformational at this historic gateway into our City's downtown," said Mayor Ravi Bhalla. "Through the private phase of this crucial project, the city will also be able to increase its affordable housing stock with a landmark 20 percent set aside through the construction of new residential units. Thank you to Governor Phil Murphy and Senator Brian Stack, as well as Assemblywoman Annette Chaparro and Assemblyman Raj Mukherji for their commitment to this project."

“We are grateful for Governor Murphy’s substantial financial commitment for these improvements to the rail, bus and ferry facilities at Hoboken Terminal. This will greatly benefit the millions of NJ TRANSIT, PATH and NY Waterway customers who rely on this vital, intermodal transportation hub every year,” said NJ TRANSIT President & CEO Kevin S. Corbett.

The project is a multi-phased initiative that will consist of private and public components implemented in coordination over the coming five plus years.

When complete, the project will directly and indirectly support 15,290 permanent jobs and $234 million in tax revenue annually, officials said.

The city of Hoboken will see 4,433 jobs on site with $9.6 million in annual retail spending and $4.5 million in annual revenue, while NJ TRANSIT will benefit from substantial ground lease payments, increased ridership, and customer experience improvements. More than 9,800 construction jobs will be created.