Connell Foley Developer Client Inks Deal That Will Significantly Benefit the City of Hoboken

06.28.2023
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Thousands of feet of new retail space, affordable housing, community space, a public park, promenade, bike paths, and other improvements benefitting the community will grace the now blighted property at 1500 Clinton Street in the North End Redevelopment Area in uptown Hoboken thanks to a redevelopment agreement between City officials and Connell Foley client Bijou Properties.

The benefits that the project will afford the community at no cost to the City will include the construction of public open space, two-way bike paths along Clinton and 15th Streets, storm-water detention capable of holding more than 30,000 gallons to mitigate flooding, and space for the community that could serve as an uptown branch of the Hoboken Public Library.

The 382-unit development will consist of one eight-story building with 120 units and one twelve-story building with 282 units, with 38 of the units designated as affordable housing. Each building will provide outdoor residential amenity terraces at various roof levels along with approximately 30,000 square feet of green roof space.

Consisting of a total of 224,000 square feet, the project will also create 9,450 square feet of retail space surrounded by over 20,000 square feet of public open space, including a linear park and promenade. The project will also provide 183 self-park vehicle parking spaces and 382 bike parking spaces.

Connell Foley attorneys Kevin Coakley and Nicole Dory were instrumental in securing a Redevelopment Plan Amendment and negotiating the Redevelopment Agreement for this transformative mixed-use, 382-unit project.

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