A Connell Foley Real Estate & Land Use team that included Kevin Coakley, Nicole Dory, Nevins McCann, and Robert Verdibello won two unanimous approvals from the Hoboken Planning Board for two transformative projects that will revitalize the North End Redevelopment Area in uptown Hoboken.
The first project will be located on an almost two-acre lot at 1500 Clinton Street that is currently occupied by a vacant industrial building. Subject to a redevelopment plan and redevelopment agreement that Dory negotiated on behalf of Bijou Properties and timely assigned to a joint venture between Bijou Properties and Advance Realty, this project consists of two mid-rise buildings separated by a linear park, with a public promenade and cycle track that extends the City’s “green circuit.” One of the buildings will be eight-stories high and will include 120 units, a retail component, and a common roof deck. The second building, which will be 12-stories high, will include 262 residences plus 183 parking garage spaces and a ground floor “community flex space” spanning 9,450 square feet that will be leased to the City at no cost and may house an uptown public library. The entire 382-unit project will include 38 units of affordable housing.
Being developed pursuant to a redevelopment agreement negotiated by Connell Foley Counsel Robert Verdibello on behalf of Advance Realty, the second, companion project will be located at 1501 Adams Street, which is next door to 1500 Clinton Street. It too will include two buildings, both of which will include ample retail space on their first two floors. Ten percent of the two buildings’ 420 residential units will be earmarked for affordable housing. The 1501 Adams Street project will also include open space comprising 22% of the project’s open space.
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