New Proposed Park at 700 Monroe
A new park is proposed for Northwest part of Hoboken. Below is the press release from the Mayor of Hoboken today.
The City of Hoboken is considering a proposal from Bijou Properties that would donate to the City a 1 acre property, known as the Pino site, for a park in Western Hoboken as part of an agreement to continue the redevelopment of the Monroe Center site.
“We have a historic opportunity to preserve one of the last undeveloped parts of Hoboken as open space,” said Mayor Dawn Zimmer. “This new park near the Jubilee Center, Monroe Center for the Arts, and a growing residential neighborhood, would bring much-needed open space to Western Hoboken. I thank Larry Bijou for making this proposal that would transform unused land into a community open space that will benefit the neighborhood and Hoboken for years to come.”
Larry Bijou is under contract to purchase property at 700 Monroe Street, which is in a Redevelopment Area, as well as the Pino property, located at 7th Street and Jackson Street. He has proposed donating the Pino site to the City for a park in exchange for an effective transfer of development rights from the Pino site to the adjacent property at 700 Monroe Street, with an additional 14 dwelling units, and 90 automated parking spaces. The result would be the creation of a new 1-acre park and a LEED-Gold Certified building at 700 Monroe Street that would incorporate a green roof, grey-water system, and cogeneration.
At the next Council meeting, the City Council will be asked to approve an interim cost agreement. Mayor Zimmer thanks Zoning and Economic Development Chair David Mello for working with her on this proposal. She also discussed the proposal with Third Ward Councilman Michael Russo and appreciates that he expressed his support for moving forward. If approved, Mr. Bijou would pay for the costs for the City to vet the feasibility of his proposal for a new park and transfer of development rights, including a financial, environmental, and planning analysis. All aspects of the proposal would be subject to negotiation for inclusion in the Redevelopment Agreement, which would require City Council approval. Finally, any necessary environmental cleanup would take place and a community process would begin to design the new park.
The City is continuing to move forward with negotiations and through the legal process to acquire approximately 1 acre of land in Southwest Hoboken for the beginning of a Southwest Park.
The City has completed an environmental review of the BASF property, a 6 acre site in Western Hoboken, and continues negotiations with BASF to acquire the property.
The City Council will be fully briefed on the status of all land acquisition negotiations during closed session on Wednesday, April 20 from 6-7:30pm. The regular Council meeting will begin at 7:30pm.
Lauren Blumenfeld is a professional and knows how to get it done. She has been a Realtor since 2008 and has helped hundreds of families buy and sell their home or investment property. As a pivotal mem....