The Bayonne City Council will consider the first reading of a $65 million bond for the $900 million 1888 Studios, a major motion picture studio planned for the former Texaco site, at a special meeting this evening.
By John Heinis/Hudson County View
The meeting will be held at City Hall, 630 Avenue C, this evening at 7 p.m. The ordinance will be one of three up for the first reading after the council convenes in a closed session, a copy of the agenda says.
The 75-acre site, located near the intersection of Avenue A and 1st Street, will consist of 10 studio sound stages, five mill buildings, attached four-story offices that will support the studio buildings, and a post-production office building, and 2,127 parking spaces, among other things.
The planning board gave approval to the project back in March and is aiming to open by mid-2025, though tonight is the first time the council will vote on the measure, which city officials have said would create up to 3,000 jobs and $7 million in annual revenue.
However, the applicant came before the planning board on January 10th asking for amendments including eliminating underground parking structures, a screening and post production office, among other amenities.
The Local Finance Board then approved $65 million in the “proposed private sale of bonds” the following day, their meeting minutes show.
If the bond is approved this evening, the second reading will be considered at the February 15th regular meeting of the city council.
Editor’s note: This story was updated regarding information from the Local Finance Board.