Jones Lang LaSalle


Hoboken's park dream will be realized
Saturday, February 04, 2006

HOBOKEN - City officials have closed the deal on a $7.1 million project that will create two acres of open space at 1600 Park Ave.

The parcel of land, at the northeastern edge of the city near the Hudson River, has been at the center of Mayor David Roberts' open space initiative, which called for 17 acres of additional recreational space.

Funding for the project includes $2.5 million in grants from the state Green Acres program, $1.25 million in federal Land and Water Conservation grants, a $2 million award from the Hudson County Open Space Trust Fund, and $1.35 million from the city.

"This land will provide better access to a portion of the Hudson River Walkway and additional planned recreational amenities as well as unparalleled views of Midtown Manhattan," said Terrence Nolan, state director of the Trust for Public Land, a private nonprofit organization that helped put the deal together.

Sanford Weiss, a principal of Toll Brothers, owned an option on the property for nine years. He had hoped to build two 23-story residential towers but failed to win approvals.
BONNIE FRIEDMAN
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