Jury decides Southwest Park will cost Hoboken half of private owner’s initial asking price

HOBOKEN – The price for nearly 1 acre of land, which would be part of Hoboken’s 6 acre Southwest Park, has been up for debate.
The property owner was initially seeking $8.4 million and a condemnation board later set the price at $5.4 million, which the city and property owner appealed according to a press release. The city announced on Wednesday, Dec. 2 that a State Superior Court jury in Jersey City has set the final price at $4.48 million. $3 million of the project’s cost has been paid for from a grant provided by the Hudson County Open Space Trust Fund, and $1.48 million will be funded through the city’s own Open Space Trust Fund, according to city officials.
The park’s property is bounded by Jackson Street, Observer Highway, Harrison Street and Paterson Avenue.
City Spokesman Juan Melli noted that Mayor Dawn Zimmer hopes to expand the park into a larger park through a redevelopment process. The Southwest Area Redevelopment Plan is underway.
“This result is a huge victory for Hoboken and its taxpayers,” said Mayor Dawn Zimmer in a statement. “By using the eminent domain process, the City has been able to acquire the land needed to begin building the Southwest Park in the most cost-effective way, saving taxpayers millions of dollars. As a resident of the southwest I look forward to cutting the ribbon on this new park as soon as possible. I want to thank the City’s attorney, Ed Buzak, for his exceptional work in achieving this great result.”
The U.S Bill of Rights details eminent domain as allowing local governments to condemn property for public use as long as “just compensation” is provided to the owner.
The city’s use of eminent domain allowed them to obtain the Southwest Park for public use, the same tactic they are using to try and obtain the BASF property in the northwest. The Southwest Park (able to hold over 200,000 gallons of stormwater runoff) – also referred to as Block 12 – is one of three of the city’s attempts to add storm runoff to public parks, which also includes the park at 7th and Jackson streets.
The city took hold of the parcel in 2013 under a state condemnation process. Although the lawyer from the former property owner, New York’s Ponte Equities, was not available for comment, they told NJ.com they are considering appealing the Nov. 19 jury decision.
Pending final permit approval from the State, the city anticipates to bid out the construction for the project in early 2016.
“We are waiting for the DEP to provide us with the authorization to advertise. We expect that to happen by the end of the month. At that point, we will advertise the bid, award a contract, and then begin construction,” said Melli in an email.