The intersection of 5th and Madison Streets in Hoboken is one of the more peculiar junctures in the Mile Square City. Despite significant development on the city’s west side, a vacant lot, an empty building, and a small garage have occupied three of the intersection’s surrounding lots for years, seemingly frozen in time.
However, change is coming to the streets. The appropriately named Fifth & Madison Development LLC won approvals on June 20th to build a five-story mixed-use project at 501 Madison Street. The sleek building will consist of four 3-bedroom condos of about 1,500-square feet each, plus a 990-square foot storefront on the ground floor.
Designed by Nastasi Architects, the project was granted five variances by the city’s Zoning Board, including ones for commercial use, density, building height, rear yard setback and 100% lot coverage. The lot is undersized and completely surrounded by development, and more revitalization could be coming directly across the street.
Another long vacant, wood framed building at 423 Madison Street was home to Chickie’s Luncheonette before they closed their doors. Nastasi Architects is also working on a proposal for the somewhat slanted property that was withdrawn from consideration but will soon be re-submitted to the Zoning Board according to comments made during a recent meeting. That parcel is registered to the same owner as 501 Madison.
Nearby, the clatter of construction is already revitalizing the neighborhood. A small parking structure and surface lot at 502-510 Madison Street is being replaced by an 18-unit residential building from URSA Development. Designed by Antonio Aiello of Urban Design Workshop, the project was approved last year and is being built by Fields Construction.
The development, which was described as condos or rentals during Planning Board proceedings, includes parking for 18 cars on the first floor and amenities like a landscaped rear yard with patio areas, a rain garden, a fire pit, and barbecues. An underground water detention system below the building’s rear yard will create over 6,000 gallons of rainwater storage.
The elevator building, which spans five lots, will consist of six 1-bedroom, three 2-bedroom, eight 3-bedroom and one 4-bedroom unit. A community room with an outdoor terrace will occupy the building’s fifth floor. An exterior of brick and stone will be utilized on the project, which is well underway and looks like it may wrap construction later this year.
