Earlier this month, New Jersey officials commemorated the groundbreaking of a development and public infrastructure improvement project near Hoboken’s historic train station.
The long-stalled redevelopment effort, now Hoboken Connect, will produce new office and retail space, affordable housing, and improvements to public infrastructure and the surrounding streetscape.
The project had been in development for 15 years. It was jump-started through cooperation among partners, including N.J. Transit, LCOR and the city of Hoboken.
Hoboken Connect is a multi-phased initiative with private and public components to be 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.
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 officials say N.J. Transit will benefit from ground lease payments, increased ridership, and customer experience improvements.
