Two upcoming decisions from the city council will decide if several parcels just a few blocks from the 9th Street Light Rail station see a defunct arts institution replaced with a mixed-use development.
Plans to revitalize 921-931 Madison Street have been in the works since the land was sold in 2019 for just over $6.5 million. The property was once home to Water Music Studios, who, per h-Mag, operated out of the space for over three decades starting in 1982.
A diverse list of artists including Dave Matthews Band, Beyoncé, Shakira, Sonic Youth, Social Distortion, R. Kelly, Taking Back Sunday, and Jimmy Eat World all worked out of the studio at various points. The land has since been purchased by a subsidiary of Secaucus-based National Realty Investment Advisors (NRIA), who are behind notable projects under construction in the area including Bergenline Station in West New York and Hoboken Heights in Union City.
The now-defunct Water Music Studios falls with Hoboken’s Northwest Redevelopment Plan and NRIA has asked for some zoning amendments to move their project forward. Architect John Nastasi presented the proposed development to the council during a special meeting last month and the city’s planning board voted in favor of allowing the requested plan alterations during their March 9 meeting.
The project, dubbed Madison Views, would demolish the two-story structure and parking area at the site and replace it with a six-story development that rises 78 feet. The plan includes 36 condominium units on the top four floors, with four set aside as affordable housing per Hoboken’s regulations.
The ground floor would consist of 10,900 square feet of commercial space, while the development’s second story would host 34 garage parking spaces to be accessed via 10th Street. A bicycle room with space for 60 bikes would be included in the project, as would an underground stormwater detention tank capable of storing 27,000 gallons of water.
The city council will be voting on whether to approve the requested redevelopment plan changes during the March 17 meeting and could sign off on a redevelopment agreement during the same session. As part of the latter deal, NRIA will be providing a Community Benefit Payment of $25,000 in exchange for allowing the amendments.
If the council approves both measures, NRIA will then need to submit an application to Hoboken’s planning board for review and approval. While there are a few steps remaining in the process, the company wrote in a recent blog post that they hope to complete their Madison Views project during 2023.
