• $1.77 MILLION ANNUALLY IN NEW REAL ESTATE, HOTEL AND PARKING TAXES TO THE CITY OF HOBOKEN AND THE HOBOKEN SCHOOL DISTRICT
  • RENOVATION OF HOBOKEN’S LANDMARK POST OFFICE; IMPROVING OPERATIONAL EFFICIENCIES
  • NEW, BEAUTIFULLY LANDSCAPED AND LIGHTED PEDESTRIAN ACCESS TO HOBOKEN’S WATERFRONT
  • ARCHITECTURALLY AND AESTHETICALLY CONSISTENT CONTINUATION OF HOBOKEN’S SOUTH WATERFRONT BUILDING SCAPE
  • REDESIGNED TRAFFIC PATTERNS ON NEWARK STREET AND FIRST STREET ALLOWS FOR IMPROVED TRAFFIC FLOW
  • ADDITIONAL ON-STREET PARKING SPOTS CREATED

 

Economic Benefits within Hudson & Essex Counties

(Econsult Solutions, Inc. economic impact report dated Oct 2016)

 

Hotel Guest Spending $ 14.8 million
Jobs Supported by Hotel Guest Spending 114
Expenditures Generated by Ongoing Hotel Operations $ 23.8 million
Jobs supported by Ongoing Hotel Operations 166
Total Expenditures Generated by Hotel Construction $ 174.4 million
Hotel Construction Jobs 555

 

 

Estimated Hoboken Taxes

(2016 rates, based on land + construction costs & anticipated occupancy)

 

City Real Estate Tax @ .48 $ 540,000
City Schools Tax @ .37 $ 415,000
City Hotel Tax @ 3% $ 751,000
City Parking Tax $ 68,000
$ 1,770,000