A proposed 9.5 percent rent hike at Marineview Plaza in Hoboken that has left some roiled is pending a review from the New Jersey Housing and Mortgage Finance Agency, HCV has learned.
By John Heinis/Hudson County View
“For more than a decade, rents at Marineview Plaza have not kept pace with the regional consumer price index and in some cases did not increase at all. Unfortunately, due to high interest rates and rising costs related to maintenance, staffing and insurance, it is now necessary to raise rents so that the building can continue to meet resident’s needs,” Kelly Magee, a spokesperson for Marineview Plaza Associates, said in an email.
“Even with the proposed increase, which is subject to government review, rents at Marineview will remain below-market and meet New Jersey’s standards for affordability. We take our administration of Marineview seriously and we encourage residents to reach out to our management office with questions or concerns about their individual circumstances.”
The current monthly rents in the building range from about $1,100 to $1,500, with the increase expected to be an additional $130 to $150 per month, with the NJHMFA having the final say on any increase, a representative for the building said today.
The press office for the NJHMFA did not return inquiries seeking comment on Friday or Monday.
An interoffice memo from Marineview management to tenants dated November 30th says that a new 9.5. percent rent increase at the 432-unit building would be implemented on January 1st, 2024.
City spokeswoman Marilyn Baer said the administration considers this an “unacceptable increase” that is being evaluated by their law department, also noting that they have reached out to the NJHMFA, who oversees the building.
“The administration insists the Marineview Plaza’s management company address this matter promptly and in a manner that supports the well-being of the tenants,” she added.
“In addition, the administration has scheduled a meeting for the residents of Marineview with the City’s Tenant Advocate for Wednesday at 4 p.m.”
Given that Marineview is located in the 1st Ward, it was inevitable that both candidates in tomorrow’s runoff would speak out about the situation.
Rafi Cordova, the rent leveling board chair who is backed by Mayor Ravi Bhalla and his supporters on the city council, denounced a 9.5 percent increase and said he’s already reached out to the state.
” … Needless to say, this is an abomination and a shameless attempt by the property owner to gouge their hardworking tenants who depend on affordable rents. I am calling on the landlord to immediately rescind these increases, and reissue them in line with the rent increases issued over the past several years,” he said in a statement.
“Upon receiving this information from tenants, I immediately contacted the Housing Department, which will be sending a letter informing the Marine View property owner that their rent increases are impermissible, nearly three times the Consumer Price Index (CPI), and must be rescinded.”
Cordova also held a rally at the building on Saturday, with Councilman-at-Large Joe Quintero and 1st Ward Councilman Mike DeFusco, who he is looking to succeed, and 5th Ward Councilman Phil Cohen in attendance.
“Proud to stand with Marineview residents facing a 10% rent hike. These buildings are the last vestige of the #Hoboken middle class – home to police, firefighters, healthcare workers, and teachers. Kudos to candidate Rafi Cordova for organizing, listening, and uniting,” DeFusco wrote on social media.
Cordova’s opponent in tomorrow’s runoff, Paul Presinzano, said that the “constant stream of misinformation put out by the mayor and his allies” has caused confusion amongst Marineview residents.
He added that he’s working with Assemblywoman Annette Chaparro, who has endorsed him, to get clear, definitive answers from the state.
“I am just as shocked and angry as all of my Marineview neighbors to find out our rents are going up by nearly 10%,” said Chaparro.
“Paul Presinzano was one of the first people to reach out, bringing a copy of the original 1973 Marine View agreement in-hand, eagerly offering to help in every way possible. It is clear Paul is 100% dedicated to the people of Marineview. That’s the kind of ally we need on the city council.”
Additionally, Marineview is a part of a payment in lieu of taxes (PILOT) agreement with the city. Back on March 22nd, Bhalla and DeFusco wrote in a letter to residents that the deal remains in place through 2027.
” … What this means for you and your neighbors is that until 2027, your annual rent increase will remain capped as they currently have been,” the letter says.
“After 2027, both Marineview buildings will move under rent control and because of the recent ordinance that strengthened rent control regulations for tenants, you will never have a year where your rent can be increased by more than 5% or the Consumer Price Index (whichever is less).”
The polls are open tomorrow between 6 a.m. and 8 p.m. to decide the Mile Square City’s next council representative in the 1st Ward.