A development along the Hudson River in Hoboken that has been stalled for almost a decade was recently awarded a tax credit that will hopefully cause construction to finally begin on a Hilton hotel.
The New Jersey Economic Development Authority (NJEDA) recently approved a tax credit award under the Aspire Program to support the development of a new hotel in Hoboken at One Sinatra Drive. The project first emerged almost a decade ago to great fanfare and press at the time.
But several lawsuits, one of which was successful, delayed the proposal significantly. The realities of COVID-19 changed the landscape for a while, but small steps forward were quietly taken on the project.
The most recent Jersey Digs reporting on the project was over three years ago, when KMS Development Partners officially acquired the property on which the hotel was to be built. The company told us at the time that they anticipated a construction start in the spring of 2023, but here we are.
Nonetheless, the project is now being built by a company called One SD Hoboken. They were given a tax credit award from the NJEDA of 60 percent of the total project cost, not to exceed $63.4 million.
“Under Governor Murphy’s leadership, the Aspire program has supported meaningful transit-oriented development projects throughout the state, helping grow communities and create jobs,” said NJEDA Chief Executive Officer Tim Sullivan. “Adding a new major hotel to Hoboken’s iconic waterfront will attract tourism and spur economic activity in the area, building a stronger, more resilient city that will benefit Hoboken residents for decades to come.”
The hotel, designed by Cooper Carry Associates, will include 349 rooms and a second-floor restaurant and bar. Other amenities at the development include a 959-square-foot ground-floor retail storefront and a top-floor bar and event space set to include a 2,899-square-foot outdoor terrace.
The hotel will rise on a former parking lot behind the Frank Sinatra Post Office, which will undergo a renovation as part of the work. A parking agreement with a nearby garage will offer valet services for guests.
The hotel will be designed and constructed to the U.S. Green Building Council Leadership in Energy and Environmental Design (LEED) Silver standards. A pocket park will additionally be built between the hotel and the post office, with a slew of other streetscape and infrastructure improvements called for in the redevelopment agreement.
A construction timeline has still not been officially announced for the project, which is about a block away from Hoboken Terminal. That historic facility is undergoing its own renovation, which began heavy construction after years of planning earlier this year.
