The City of Hoboken, Fair Share Housing Center, Inc. and the developer of the Western Edge project have reached a settlement that will allow the project to move forward with 15 affordable housing units.
“It is hereby stipulated and agreed by the parties that this settlement and dismissal of this litigation is premised upon the City of Hoboken adopting an amendment to the Western Edge Redevelopment Plan that requires the redeveloper of the Jefferson Street Subarea to provide affordable units equal to not less than 10% of the total proposed residential units, including Live-Work units,” says a consent order approved yesterday.
On June 1st, the FSHC filed suit in Hudson County Superior Court over the Western Edge Redevelopment Plan, which the city council gave initial approval to back in April without any affordable housing units guaranteed.
“Hoboken, a city where nearly 30 percent of residents spend unsustainable amounts of money on housing, shouldn’t be trading affordable housing for public pools: particularly in the midst of a pandemic that has sparked a deep recession,” the suit said.
However, the consent order came with a stipulation of dismissal that was approved by Judge Joseph A. Turula.
The latest iteration of the Western Edge Redevelopment Plan includes a 15- to 20-story hotel and a 13- to 18-story residential building, as well as a maximum of 357 residential units and 207 parking spaces – with the residential component not to exceed 136 feet.
The developer of the project is Pegasus Partners, recognized in the suit and settlement as Just Block 112, LLC.
A city spokesman didn’t return a request for comment on the case’s resolution.