Today, Mayor Ravi S. Bhalla and the City of Hoboken made an offer to purchase the Union Dry Dock property from New York Waterway for $13.1 million. The price matches the fair market value of the land, as determined by an independent appraiser. This offer is the first step in good faith negotiations between Mayor Bhalla and New York Waterway.
“The offer we made today reflects Hoboken’s ongoing commitment to acquiring Union Dry Dock for a public waterfront park,” said Mayor Bhalla. “We will diligently continue the necessary steps of negotiating with New York Waterway to fairly compensate them for the land. I look forward to completing this process so Hoboken can finally connect our waterfront for all to enjoy.”
Earlier this year, Hoboken discovered that New York Waterway had taken substantial steps to redevelop their current facility to accommodate a refueling station. Specifically, Arthur Imperatore, NYWW’s President, communicated to New Jersey Transit in February of 2017 that plans were underway to construct a modern ferry maintenance facility in Weehawken, proving that Union Dry Dock is not needed for a refueling station.
In July, Judge Jablonski dismissed a lawsuit filed by New York Waterway against the City of Hoboken, and referred to their claim that without Union Dry Dock a transportation crisis would occur, as “unfounded.”
