After 15 years, plans for the Hoboken Terminal redevelopment are finally put in motion. On the night of July 6, the Hoboken City Council approved the long-awaited Hoboken Connect project thanks to NJ Transit, LCOR, and the Murphy Administration. With this approval, many changes and improvements are expected to come for the Hoboken Terminal’s surrounding area. The project aims to benefit Hoboken residents and the vast amount of commuters from around the state.
The characterizing changes of Hoboken Connect include a number of private and public changes to the terminal area. As specified by Hoboken Alert, New Jersey Governor Phil Murphy has contributed $176 million to the budget for public changes, the core of which being the addition of a new bus terminal to be located on Hudson Place as well as significant improvements to the Ferry Terminal. These changes include improvements to the exterior as well as the first and second floors of this portion of the terminal. Additionally, an overhaul of Warrington Plaza is expected alongside renovations to Hudson Place to support bicycle and pedestrian accessibility.
As far as the expected private changes go, the most notable plans for addition include the construction of a multi-faceted residential building located on Observer Highway, only one block off from the terminal itself as displayed on the official Hoboken Connect plans. With this building will come 5,000 square feet of retail space, public open space investments providing improvement for pedestrians, vehicles and bicycles, and even a rooftop terrace. The main feature of this 20-story building, however, is no doubt the affordable housing that it provides. Although its intent is to be an office building, a monumental 20% of the structure will be dedicated to much needed added housing in the immediate vicinity of Hoboken Terminal.
When complete, the project is expected to both directly and indirectly support an estimated 15,290 jobs in and around the Hoboken area and generate roughly $234 million in tax revenue each year. For Hoboken exclusively, there are a projected 4,433 jobs that will see $9.6 million in annual retail spending and an additional $4.5 million in annual revenue. Not to mention, considering how the terminal is the backbone of public transportation for students at Stevens, these changes are more than welcome here on campus.
As the Hoboken community eagerly awaits these newfound developments, officials have been proclaiming the success that these changes will bring in the Governor’s Statement on the matter. NJ Transit President & CEO Kevin S. Corbett specifically emphasizes how these steps will benefit millions of commuters whose daily lives revolve heavily around Hoboken’s famed haven of public transportation. Furthermore, the Hoboken Connect project will hopefully prove to be representative of what is to come of the Mile Square City. According to Acting Governor Sheila Oliver, “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.”
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