City and Developer Take First Step toward Park on 'Pino Site'
Larry Bijou is offering the city the one-acre lot at Sixth and Jackson in return for the development rights for the lot adjacent.
The city will be looking into creating a park at Sixth and Jackson Streets, by working together with a local developer who is in the process of acquiring land there.
Larry Bijou, owner of Bijou properties, is offering to donate the property, commonly known as the 'Pino Site,' to the city in return for the rights to develop on the adjacent lot.
Bijou is in the process of acquiring the rights to build on the Pino site, which has been approved for 68 units. If acquired, Bijou has proposed to move those 68 units — plus 14 additional units and 90 automated parking spaces — to the adjoining site at 700 Monroe St.
The city council unanimously approved a cost agreement on Wednesday night to complete a feasibility study. The cost of the analysis will be paid by Bijou, according to City Spokesman Juan Melli.
The potential redevelopment agreement will need approval from the city council.
Tom Link
1:20 pm on Thursday, March 21, 2013
I'm betting this site is going to cost a boat load of money to remediate. I smell a rat... and a lot of toxic waste.
KenOn10
1:45 pm on Thursday, March 21, 2013
Not to say there isn't a rat to be smelled, but pretty much ANY vacant land in Hoboken is going to be chock full of post-industrial toxins....
Outofcontrol
9:01 am on Tuesday, March 26, 2013
He's not "giving" anything to the city. He's gaining 14 additional units and the city is going to be stuck with the remediation costs and the lost tax revenues.
rbs
9:01 am on Tuesday, March 26, 2013
I participated in the development across the street back in 2003-2005. there were a ton of $$$ spent on environmental problems. this site was used for the same thing back in the 60-70's a storage place for towed vehicles. ms pino is very wealthy and won't be required to clean it up because of her connections to the city "planners".