WEEHAWKEN, NJ–Looking to free up space for future development, The Roseland Property Co. and Weehawken Township have begun construction on a new, 850-space waterfront public parking garage at Port Imperial here. The completion of the garage in 12 to 14 months will free up a large tract that now is used for surface parking, but can be turned into luxury residential buildings, retail stores and a waterfront hotel.
“I cannot emphasize enough how important this project is for the future of the waterfront,” said Weehawken Mayor Richard F. Turner said at the June 29 groundbreaking ceremony. “Without this project, you either have no parking or no future development, and successful development is crucial for Weehawken.”
The parking garage will also include 17,000 square feet of first-floor retail space and will help complete Port Imperial’s “significant intermodal connection,” which encompasses the ferry terminal and a Light Rail station, says Carl Goldberg, a partner of Roseland Property Co., the master developer of Port Imperial, in an announcement.
“A lot of people talk about creating development opportunities in their town, but the people in Weehawken really get it. This is the real deal. This truly is a public-private partnership between the Township of Weehawken and Roseland Property Co., one that will benefit everyone involved,” Goldberg said.
The parking garage project is expected to create between 250 and 350 construction jobs and 30-to-40 temporary jobs, while the redevelopment of the parking lot could bring as many as 2,000 construction jobs. The terminal’s premium parking lot was closed as of May 16 to accommodate the construction, says the NY Waterway Web site.
The garage construction will be partly funded from financing from Wells Fargo, a $12.5 million loan from Hudson County, and a $9 million grant from the New Jersey Economic Development Authority through its Economic Redevelopment and Growth Grant (ERGG).
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