The concept design for Hoboken’s Maritime Park comes with a preliminary $74.5 million, with construction costs estimated to be $69.8 million, which does not include a $4.7 million pedestrian bridge connecting Elysian Park, a memo to the city council says.
By John Heinis/Hudson County View
“The total construction cost estimate is comprised of both ‘direct costs’ and ‘contingent costs,'” wrote Assistant Business Administrator Caleb Stratton, Climate Action and Innovation Director Jennifer Gonzalez, and Capital Planning Manager Ronald “RJ” Theofield.
“Direct costs are the costs directly associated with the design and construction of the park, while contingent costs are added on top of the direct costs to provide the estimate with a safety net against uncertainties that may arise over the course of engineering design and project delivery. The estimated total direct cost for the project is $41.6 million (60%), with an estimated $28.2 million (40%) in contingent costs for a total construction cost of $69.8 million.”
A resolution approving the concept design was approved at last week’s meeting, which was a busy session despite not being particularly long (two-and-a-half hours) by Mile Square City standards.
The meeting included passing the first reading of an ordinance establishing e-bike licensing, voting to have a state Department of Environmental Protection official brief them on the Rebuild by Design project, and signing off on two new directors (including Gonzalez).
In a blog post this morning, the Fund for a Better Waterfront questioned if the city could afford the initial price tag, with Executive Director Ron Hine said that the cost analysis should have been released prior to the public hearings for the project.
“The cost report should have been utilized last July (it was originally published then) to inform the design process and let the public know that fiscal constraints put limitations on can be included in the park,” he told HCV in an email.
City spokeswoman Marilyn Baer said that a lot of work went into getting the preliminary data together, as well as that all funding sources will be considered to turn the concept into a reality.
“The city’s project consultants created a preliminary order of magnitude estimate for the proposed park’s development, based on the city’s comprehensive public planning process that incorporated resident feedback on desired park features,” she said.
“The draft cost estimates include both direct and indirect expenses, encompassing all elements outlined in the final design concept adopted by the Hoboken City Council, which will be further refined through the engineering design process and phased approach to construction. The City will work with the Council to explore federal, state, and county funding sources as well as low-interest loans from the Ibank among others.”
The final Maritime Park concept was revealed in late October, with the council hearing the presentation in mid-November.
Rest assure it will cost way more and take much longer than what is estimated in the preliminary estimate even dropping the center piece access bridge.
Another blunder by the uninterested, unfocused MULTI JOB Part-Time Mayor
Is Bhalla is using hoboken to raise money through our contractors and residents…. ?