Today Mayor Dawn Zimmer joined other elected officials, dignitaries, and members of the community to celebrate the groundbreaking of a 2-acre park and public gymnasium as part of the 700 Jackson Street development project.
“This park will bring much-needed open space to a growing mixed-use, transit-oriented neighborhood and will build upon our flood resiliency strategy,” said Mayor Dawn Zimmer. “I thank the City Council, Bijou Properties, Intercontinental Real Estate Corporation, and members of the community who worked together to make this possible.”
“700 Jackson is reaching for new heights as a transit-oriented, smart growth community,” said Larry Bijou, Managing Partner of Bijou Properties. “Kudos to the City of Hoboken in helping to bring this modern development to fruition.”
“We are fortunate to have partnered with Mayor Zimmer and the City of Hoboken to create new community space, and look forward to more New Jersey development projects on behalf of Intercontinental’s union and public pension investors,” Peter Palandjian, Chairman and CEO of Intercontinental Real Estate Corporation.
By incorporating green infrastructure and underground detention systems to capture more than 450,000 gallons of stormwater runoff, the resiliency park is designed to help address flooding issues. It is the second of three resiliency parks planned for western Hoboken, in addition to the Southwest Park which is under construction and the Northwest Park, which is in the planning stage.
Approximately 1 acre of the park will consist of an open grass area with public seating and a children’s play area. An additional 1 acre public plaza will feature step seating with a tilted lawn panel for relaxing and passive gatherings and a large plaza area designed to accommodate vendors and seasonal markets. Finally, the plan will feature a 6,835 square foot multi-use public gymnasium with a classic field house design.
The project will also include approximately 30,000 square feet of retail space, an on-site parking garage, and 424 residential units, including 42 units of affordable housing.
