Hoboken/Jersey City, NJ • Master Developer for NJ Transit
64 Acres • Integrated transit center and Hudson waterfront gateway
LCOR was selected by NJ Transit in 2005 as master planner and developer for a multi-phased, mixed-use, transit-oriented development that will see the realization of a next-generation integrated transit center, community and gateway for the Hudson waterfront. Sited on a 64-acre parcel, Hoboken Terminal & Yard unites the New Jersey waterfront communities of Hoboken and Jersey City on the New Jersey Gold Coast. Of particular distinction are the five forms of mass transit serving the site – railroad, light rail, PATH commuter rail, Trans-Hudson ferry service and regional service. Unique project characteristics will include utilization of air rights above the operating rail yard, and the incorporation of a Historic Terminal area for restoration and commercial re-tenanting.
The future phased-development site will include multiple residential, commercial and mixed-use buildings with construction slated to begin in 2013. LCOR anticipates capitalizing on the continued growth of the New Jersey Gold Coast, which stretches along the Hudson River from Jersey City to Fort Lee, to create value in a robust and resilient market. The Gold Coast area boasts close proximity to Manhattan, a wide variety of mass transportation, and valuable incentives for residents and businesses alike -- it has supported new development of over 20,000 units of both rental and for-sale multifamily residential housing, as well as robust commercial development for major financial institutions relocating or expanding to New Jersey over the past two decades.