Walkability defines new waterfront redevelopment in Hoboken, N.J.

A recent Cushman & Wakefield report, which examines how cities are counteracting the so-called urban doom loop, combines multiple data sources to create a database of 208 Walkable Urban Places within 15 metros to offer strategic recommendations to increase real estate valuation and drive GDP growth.

These places, known colloquially as WalkUPs, occupy only 3% of their cities’ land mass but account for nearly 26% of their real estate valuation, 37% of their tax revenue, and 57% of these GDPs. C&W also found that most successful real estate product portfolios target a mix of building types that divide into 31% living spaces, 42% workspaces, and 26% play spaces. (The problem with most downtowns is that they are too work-centric.)  

“Cities should facilitate this [rebalance] by implementing policies such as expediting the entitlement process and offering incentives for adaptive reuse, particularly to encourage the conversion of oversupplied office space to live and play space,” C&W wrote. 

A good example of putting this advice into practice is occurring in Hoboken, N.J., where LCOR, a developer and property manager, is spearheading Hoboken Connect, a 15-acre $900 million urban and transit-oriented redevelopment project that will unfold over the next five to seven years. 

In an interview with BD+C, Brian Barry and Nicholas Pasquenza, LCOR’s Senior Vice President and SVP-Development and Construction, discussed the project’s history and features. Their responses have been edited for clarity and brevity.

BD+C: What got LCOR interested in this project in the first place, and how has its vision changed over the years?

In 2005, LCOR was named the Master Developer for the Hoboken Terminal and Rail Yard. The Hoboken Terminal was long seen as an iconic transportation center connecting Manhattan and Hoboken. However, over the years, the prime area along the waterfront and Terminal became underutilized, under-developed and outdated. With the site’s proximity to Manhattan, multimodal transportation options, and incredible redevelopment potential, Hoboken Connect presented a unique opportunity to create a dynamic, walkable urban space that would revitalize the area, creating a destination along the waterfront incorporating residential, office, and retail uses, as well as transportation improvements. 

LCOR recognized early on that Hoboken had all the elements that made Manhattan a desirable destination — without the high costs and congestion typically associated with the City. Undoubtedly, the most desirable remaining parcels of waterfront development in Hoboken, close to the heart of New York City, had untapped potential to become a bustling, vibrant district that could attract people to live, work, and play just across the river.

In October 2014, following years of coordination with the City and NJ TRANSIT, the City of Hoboken approved the Hoboken Yard Redevelopment Plan. The agreement was finalized in October 2022. 

With Hoboken Connect, LCOR’s plan is to create a transformative mixed-use redevelopment from largely underutilized land, open space and deteriorated existing structures situated along the Hudson River waterfront, and adjacent to one of the most critical, historically significant, public transportation nodes within the NJ TRANSIT system. The goal is to reimagine a historically significant gateway to the City of Hoboken and the State of New Jersey that will become a driver of economic development. 

As the largest master planned project in Hoboken to date, Hoboken Connect will deliver a mixed-use residential building consisting of 386 apartments with 20% dedicated as affordable housing; a 21-story Class A office building with a rooftop terrace; 15,000 square feet of retail space; public infrastructure improvements in collaboration with NJ TRANSIT and the City; and related public open space investments, including additional pedestrian, vehicular, and bicycle improvements.  

There is immense potential for Hoboken to emerge as a popular office destination as companies across multiple sectors look for space outside Manhattan. With the flight-to-quality trend still proving true and lack of new development along the waterfront, Hoboken Connect is well positioned to offer a unique office environment for today’s tenants.

What is the construction timeline for the project's completion?

The residential component of the project began vertical construction in December 2024, with the first residential units targeting a completion and move-in ready date in 2027. As part of the multi-phased construction, LCOR plans to focus initially on the residential and public infrastructure components, including the renovation and restoration of the Ferry Terminal, Bus Terminal and Warrington Plaza, as well as transformation of large segments of the City’s right-of-way, to enhance intermodal connectivity and the pedestrian experience. 

The office building, a key component of the development, is expected to be completed after the residential units, and once an anchor tenant is secured.

Which AEC firms are involved in this project?

Architects: SLCE (residential), FXCollaborative (office), Beyer Blinder Belle (ferry terminal), Matthews Nielsen Landscape Architects (Warrington Plaza and Hudson Place).

Construction: Consigli (residential), Hunter Roberts (infrastructure improvements).

Key development partners: Governor’s Office, State of New Jersey; NJ TRANSIT, City of Hoboken, N.J.; Port Authority/PATH, Hudson County, N.J.; NJ Department of Environmental Protection.

What are this project's sustainable features?

Sustainability is at the heart of Hoboken Connect. The development incorporates several eco-friendly features and design principles, including:

•Transit-Oriented Design: Hoboken Connect is strategically located near multiple modes of public transportation, including PATH, ferry, and bus services, which reduces the need for private car ownership and promotes a more sustainable, walkable lifestyle.

•Energy Efficiency: The residential and office buildings plan to incorporate green roofs. The office building on the campus will seek LEED Gold status, and the residential building will target LEED Silver status and incorporate a geothermal energy system, which will be the first of its kind in New Jersey.

•Sustainable Design: The residential building is projected to use approximately 40% less energy than comparable communities in the NYC metro area by electrifying the HVAC and domestic hot water system.  The heating, cooling and hot water demands are served by a geothermal ground loop consisting of 66 850-ft-deep geothermal wells and electric heat pumps. Additionally, there will be no fossil fuels consumed on site.

•Sustainable Construction: The structure of the residential building is designed to use post tension cast in place concrete.  Post tension concrete requires substantially less steel reinforcing and concrete, which results in a large reduction in the building’s embodied carbon emissions.

•Public Space Improvements: The project involves the creation of a new pedestrian plaza, which will serve as a social and environmental asset to the community. By transforming a parking lot into a vibrant public space, LCOR is helping to reduce impervious surfaces, improve stormwater management, and enhance the area’s aesthetic appeal.

•Historic Preservation: The renovation of Hoboken Terminal incorporates an element of historic preservation, ensuring that the terminal remains a part of the area’s cultural identity while being modernized to support sustainable transit options.

Aside from the Terminal, will there be any other adaptive reuses in this project?

One of LCOR’s focuses is on preserving, renovating and restoring some of the site’s historically significant elements, including the Ferry Terminal and Warrington Plaza. These structures have been a part of Hoboken’s history for over a century. In addition, LCOR is introducing new elements that will add to the surrounding neighborhood. When combined, these elements will transform a previously overlooked area into a vibrant, walkable hub that benefits the community and creates a transformational destination along the waterfront. 

Key "play" elements being brought to life by LCOR at Hoboken Connect include:

•A pedestrian plaza that will act as a vibrant social and recreational space, where people can interact, contributing to the area’s community engagement.

•The retail space will create opportunities for retailers and encouraging the foot traffic required to foster a dynamic urban experience. 

•Mixed-use amenities that integrate residential, office, and retail spaces within a single development. This strategy supports the WalkUP concept by promoting day-to-night activity, making it a place that remains vibrant at all hours.

•The proximity to multiple transportation options, including bus, ferry, light and heavy rail, and PATH services, will make the site highly accessible, encouraging people to visit and stay, whether they are commuting from Manhattan or exploring the area.