In Hoboken’s north-west corner, a transformation is taking shape. The long industrial area is being reimagined as Hoboken’s go to destination. Collaborations between the City and developers are propelling projects in the area forward.
Dubbed NoVia (north of the viaduct) by developers, the name has started to catch on. A recent overhaul of the area under the 14th Street viaduct created a large public park. Bijou Properties is working on a project a block away.
Pegasus Partners, headed up by Mark Villamar and Hany Ahmed, is working on a project that hopefully will bring a Brooklyn Bowl-type bowling alley to Hoboken. The goal is for the area to offer something different than the rest of Hoboken. An entertainment, recreation and nightlife hotspot.
Tony Soares, of Prime Real Estate Group, likened the area to Manhattan’s Meatpacking District. “Ten or 15 years ago when you went to the Meat Packing District, you saw actual meat packers. Now it’s become an international destination for entertainment and nightlife. That’s what we’d like to see happen here.”
Instead of mainly residential streets with a few retail spaces mixed in, developers are hoping for a more mixed-use community. Last year, Pegasus Partners finished construction on Novia Flats, a true mixed use building they hope will become a model for other projects in the area.
Novia Flats consists of 24 live/work lofts and 6 commercial studios above a large street-level retail space. The studios are filled with small businesses that engage with the community. One is Real Hot Yoga, the only yoga studio in Hoboken with a direct view of Manhattan. Another is Wine and Design, a popular paint and sip company.
The ground floor of Novia Flats is still vacant, but not because of a lack of interest. Pegasus is holding out for a tenant that is as committed to the area as they are. They’ve turned down offers from a co-working brand, medical businesses, and preschools. The ideal tenant would help activate the street and draw people to the area.
Pegasus also revitalized the neighboring building that is now home to Pilsener Haus & Biergarten, which has become a major destination for visitors and residents alike. Pegasus hopes to find a similar but complementary tenant.
The space is ideal for a restaurant. At 6,500 square feet, it’s one of the largest commercial spaces available in Hoboken. Its layout is unique too; instead of raising the entrance above the post-Sandy requirements, essential destroying any connection to the street, the developer decided to create a lower level that would be ideal for indoor and outdoor seating.
Walk up to the main level and you start to see the possibilities. Currently a blank canvas, the space can be outfitted for a variety of uses. Ceiling heights provide for an optional mezzanine space that would add an additional 2,100 square feet. There’s elevator access to both the space and the mezzanine making it fully ADA compliant. A liquor license is also available.
While Pegasus waits for the right tenant, they’ve opened the space up to artists to display their work. The gallery, called Falcon Power West, is currently showing an exhibit titled Formless Threads / Stratified Dimensions. featuring work by Roy Kinzer and K.C. Tideman.
After years of disuse, the future of Hoboken’s north-west corner is looking bright. Forward-thinking developers and a city willing to support responsible development have paved the way for what’s to come.
The commercial space at Novia Flats is represented by Tony Soares of Prime Real Estate Group, you can contact him at [email protected] or 201.320.0642 for more information.
[gmap height=”250px”]1414 Grand St, Hoboken, NJ 07030[/gmap]
Novia Flats – 1414 Grand St, Hoboken, NJ 07030