'Pino Site' in West Hoboken Could Become Park under New Proposal
A developer has proposed donating the property to the city in return for the rights to redeveloping the Monroe Arts Center.
A one-acre site at Sixth and Jackson Streets — commonly referred to as the "Pino Site" — could become the city's next park.
Mayor Dawn Zimmer announced that local developer Larry Bijou is proposing a redevelopment agreement in which he "would donate to the City a one acre property ... as part of an agreement to continue the redevelopment of the Monroe Center site."
It's not the first time the now-barren former tow lot is discussed as a potential park.
Larry Bijou, the owner of Bijou Properties, 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.
In order to make that happen, he has proposed donating the Pino site for park use in return.
Before entering into such an agreement with Bijou, the city will have to complete a study to determine the feasibility of the proposal, both financially and environmentally.
Bijou would pay for the cost for the City to vet the feasibility of his proposal, Spokesman Juan Melli said on Thursday afternoon. That interim cost agreement will first have to be approved by the city council.
"Any necessary environmental cleanup would take place and a community process would begin to design the new park," the city's announcement stated.
The redevelopment agreement will need approval from the city council.
HudsonStreet
11:03 am on Friday, March 15, 2013
This looks like a win win for both the people of Hoboken and Larry Bijou who has developed some of the greenest buildings in the City.
The official the press release thanked Councilmen Mello and Russo and other Zimmer Administration staff for bringing this proposal to the table.
Indiecom
11:48 am on Friday, March 15, 2013
....might be, need more information and to proceed with caution. Need more information and background. For example, the Pino sight was already approved for 68 units? OK, those rights are transferred to another property and adds 14 units (total 72) plus 90 parking spaces that are automated (automated parking spaces? We're not talking about another automated garage, are we?) The Pino sight is across the street from Monroe and a park across the street escalates the value of the property at Monroe, Bijou takes on the environmental clean-up of the Pino sight, saving the city money and gets much more valuable property in exchange. I'm guessing we have a pilot agreement on the redevelopment - how long is it for - i.e., what is the built in savings to Bijou before we horse trade? What is the impact to traffic congestion, quality of life, etc? It's Bijou, never one to develop anything but top-of-the-line luxury units - is that all we want exclusively in that project? I look forward to learning more about the proposal.
HudsonStreet
2:49 pm on Sunday, March 17, 2013
Unlike previous Hoboken Administrations, I have fatith that the Zimmer Administration will be able to work out a balanced deal with this develp[er where Hoboken comes out with a fair shake.
The process will be transparent and open so if you or anyone have questions they will be answered.. Councilman at Large David Mello, I read in the press relaease helped bring the proposal to the table and he should also be able to your questions.
Again to me this looks like a win for Hoboken.
QJ201
12:56 pm on Friday, March 15, 2013
Ah the Pino Site, otherwise known as Mama Russo's cash cow... the official city contracted tow yard giving sweet kickbacks...which is probably why they didn't accept credit or checks, cash only, hmmm.... ah the (bitter) memories.
Scott M. Siegel
3:39 pm on Monday, March 18, 2013
Sounds like a fair deal to me. The cleanup costs alone will very expensive.