LCOR has officially started construction on a new 386-unit apartment tower, marking a significant part of the Hoboken Connect project, a large, mixed-use development around the Hoboken Terminal. The project’s master developer, LCOR, held a groundbreaking ceremony last week to celebrate the beginning of the 27-story building along Observer Highway.
The tower, named Charlie, will have a total of 365,000 square feet of space with floorplans ranging from studios to three-bedroom units. The apartments will feature upscale amenities, and the building will also incorporate sustainable design features.
One of the standout features of the project is that 20 percent of the apartments will be reserved as affordable housing. Residents will be just a short walk away from Hoboken Terminal, a key transportation hub. The Hoboken Connect project, a collaboration between LCOR and NJ Transit, is a major public-private investment aimed at revitalizing the area. The development will significantly improve access to transportation, create job opportunities, and foster economic growth.
The project is expected to enhance the community by offering a variety of amenities, including nearly 15,000 square feet of space. This includes a first-floor lobby with a package room, a concierge, a pet spa, and a second-floor and rooftop amenity space.
The rooftop space will feature a fitness center, an entertainment kitchen, coworking spaces, dining areas, and an outdoor pool. Brian Barry, a senior vice president at LCOR, emphasized that Charlie’s prime location along the Hudson waterfront, along with its modern amenities and sustainable design, will offer a desirable living experience.
LCOR has partnered with Consigli Construction Co. Inc. for the construction of the residential building and secured financing from insurance accounts managed by KKR. For the building’s sustainable design, LCOR is working with Salas O’Brien and Allied to install the largest residential geothermal system in New Jersey. The geothermal system will feature 66 geothermal wells, each reaching a maximum depth of 850 feet, along with electric heat pumps. The project will also include green roofs and stormwater improvements to ensure sustainability.
Governor Phil Murphy also shared his excitement about the project, which he believes will integrate transportation, sustainability, and economic development. According to Murphy, the development will not only provide more housing and commercial spaces but will also create cultural opportunities to enhance the Hoboken community.
The Hoboken Connect project, which has been in the works for nearly two decades, represents an investment of over $900 million into Hoboken’s waterfront. This includes $176 million committed by state lawmakers as part of the New Jersey Debt Defeasance Act of 2022.
The larger Hoboken Connect development also includes plans for a high-end 21-story office building, 5,000 square feet of retail space, and the restoration of the Ferry Terminal Building and Warrington Plaza. The development will also focus on creating public spaces, a new bus terminal, and pedestrian, vehicular, and bicycle improvements to better connect the area’s transportation facilities. These public space investments are aimed at enhancing access and improving the overall infrastructure in the area.
Hoboken Mayor Ravi S. Bhalla praised the Charlie tower’s groundbreaking, emphasizing its importance in addressing Hoboken’s housing needs while supporting the revitalization of the city’s downtown area. Bhalla believes that Hoboken Connect will bring new life to the city, creating a vibrant mixed-use destination that prioritizes sustainability, accessibility, and economic growth. He expressed his excitement for seeing the vision come to life for the benefit of the community.
Kevin S. Corbett, the former CEO and president of NJ Transit, also weighed in, calling the Charlie project an excellent example of how thoughtful development can improve public transportation access. Corbett noted that the Hoboken Connect project, with its focus on sustainable housing and modern infrastructure, will transform the Hoboken waterfront and create expanded access to public transportation, including the new Hoboken Bus Terminal.
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