Here come the Rockefellers!

7/6/2010:

Rockefeller still pushing 40-story Hoboken building

Here’s one sign the economy may be turning around. The Rockefeller Group is ratcheting up its public relations effort to build a massive commercial complex on Hoboken’s northern gateway. In early 2009, word got out Rockefeller was buying up properties through a subsidiary called Park Willow, LLC. They own several lots between 14th and 17th streets from Park to Grand. Rockefeller wants the city to approve a massive redevelopment scheme that will include several office towers, the largest being 40 stories tall.

Rockefeller: “We are working with Mayor Zimmer”

Some thought the Rockefeller Group plan would die with the election of Mayor Dawn Zimmer. Not so, says Rockefeller, which claims they are working with Zimmer to move the plan forward. This from NorthJersey.com:

“Rockefeller Group Development Corp. has an exciting and comprehensive vision, which includes predominately office and retail space on the land it owns, along with cultural and waterfront activities on the adjacent public land,” according to a statement issued by the company last week. “We are working closely with Mayor (Dawn) Zimmer and the City of Hoboken to make that vision a reality in order to bring tax relief, jobs, economic benefits and recreation to Hoboken residents.”

The article written by the Star Ledger’s Josh Margolin includes this response from City Hall:

“In an interview and e-mail exchange, Zimmer sounded a slower, more cautious note and denied that her administration — in place for 11 months — has been in discussions with Rockefeller. “There have been no negotiations with the Rockefeller Group regarding their project by my administration,” she said.

That’s not what we’ve been hearing. On February 25th, 2010 Hoboken411 reported that Zimmer met behind closed doors with Rockefeller Group officials to discuss their plans:

Tootsie Roll is no longer at 15th and Willow. The Macy’s Parade Studio is there for now. Multinational developer Rockefeller Group owns the property and has a plan to build 40-story towers on the site. City Hall sources tell Hoboken411 Mayor Dawn Zimmer met with Rockefeller Group officials behind closed doors several weeks ago. No word on the outcome of that meeting.

This non-public meeting with a major landowner and developer in the Mayor’s office was not included in the weekly barrage of spin-filled press releases from 94 Washington Street. Zimmer’s people never denied it, either. Sources say Rockefeller Group representatives left the meeting smiling.

Zimmer needs cash Rockefeller has

Dawn Zimmer made a lot of campaign promises. Some – like the “guaranteed” 25% property tax cut – were abandoned as soon as she won the November special election.
Others like her pledge to build new parks are still out there with no real action taken. Proponents of the Rockefeller plan say it could bring in millions of dollars to help pay for some of the open space proposals, and that commercial development (even 40 stories tall) will have less of an impact on the city than residential.

One of the proponents may be appointed 4th ward councilman Michael Lenz, who has spoken in favor of more commercial development. In fact, Lenz used to work for a development firm, and for years identified himself as an “Independent Real Estate Consultant.” Lenz even supported a plan to build a high-rise office building where Pier A Park is today. While some say large-scale commercial real estate will lower Hoboken’s taxes, others say all the office buildings on the southern waterfront did little to avoid a 47% tax increase.

Rockefeller seeking statewide support

The placement of a story about Rockefeller’s plan in one of the state’s largest newspapers is no accident. Rockefeller has already received a million dollars from the state to help move the project forward, and will be seeking support from top lawmakers to make it a reality. The argument will be “New Jersey needs the money,” and so does Hoboken.

What do you think? Does the economic development and millions in new tax revenue that a 40-story, $1 billion dollar complex would bring to Hoboken be worth changing the feel of this town forever? Is Zimmer being up-front about her feelings (or the feelings of her handlers) about this project, or do her secret, closed-door meetings with the developer bother you? Comment below.

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7 Comments on "Here come the Rockefellers!"


Member
KenOn10
5 years 1 month ago

Why do i suspect a front-loaded PILOT payment used to provide momentary tax relief in exchange for a development breaching Hoboken’s infrastructure so badly that Hoboken High will start a sewage-surfing team?

Oh yeah – because i moved to Hoboken in 1988. Hope i’m wrong but it sounds like another tune from the same old songbook…

Member
5 years 1 month ago

The Macy’s Parade Studio is moving to Moonachie next month…

That much investment will require transportation improvements that will benefit all of northern half of Hoboken. Nobody is going to build a multi-$100s million development that workers can’t get to.

Member
Patrick F
5 years 1 month ago

Jersey City’s waterfront has gained many high rises in the past 20 years, and I don’t think it’s detracted from Jersey City’s character. Once you’re a few blocks away, you don’t notice them. I have a feeling it would be similar in Hoboken, and if Hoboken wants to grow in the 21st century and not stay stagnant, it will have to embrace (to some degree) more density and probably high rises. If Hoboken works the deal to their advantage, they can probably get the Rockefellers to pay for most of the needed infrastructure improvemtns.

I live about five blocks from Newport on Hamilton Park (www.livingonthepark.com) and I don’t mind the high rises at all.

Member
Journey
5 years 1 month ago

On the flip side, I didn’t want to live in Jersey City or NYC because of high rises. I do notice them. I love the neighborhood that I’m in with the sunlight actually reaching the ground.[quote comment=”194280″]Jersey City’s waterfront has gained many high rises in the past 20 years, and I don’t think it’s detracted from Jersey City’s character. Once you’re a few blocks away, you don’t notice them. I have a feeling it would be similar in Hoboken, and if Hoboken wants to grow in the 21st century and not stay stagnant, it will have to embrace (to some degree) more density and probably high rises. If Hoboken works the deal to their advantage, they can probably get the Rockefellers to pay for most of the needed infrastructure improvemtns.I live about five blocks from Newport on Hamilton Park (www.livingonthepark.com) and I don’t mind the high rises at all.[/quote]

Member
notnow
5 years 1 month ago

This project makes complete sense, that is why it won’t get done. It consists of a World Class Developer that is capable of building in the worst real estate market since the “Great Depression”, with the ability to self finance. Oh yes, and they want to build commercial which will help pay for all the bonding for Parks and other improvements that the City will be doing over the next few years.

I don’t necessarily agree with everything that this administration or past administrations have done, but this is a good project for Hoboken. It actually improves Hoboken.

But than again, we have to keep in mind all those who fear what may be hard to envision. I mean after all, Great Cities just appear right, they are not planned and built???? And don’t forget the argument of how a tall building on the out skirt of town will devastate Hoboken. Before buying into that theory, go take a look at Paulus Hook and check out the Goldman Sachs Tower a block or two from the Brownstones. There are no traffic issues there or negative impacts that the naysayers feared. Just a huge $5,000,000.00 check each year that goes to Jersey City directly.

If this Administration is interested in getting things done, they will have to stand up to the same groups that swore that the W Hotel, The Wiley Building, Maxwell Place, and the Rehab of the Tea Building would destroy Hoboken. Instead, those same buildings have helped elevate Hoboken, and pay for it’s 100 Million dollar budget. Just imagine how high your taxes would have been without these projects…..

But than again, maybe we would have gotten a State hand out like Camden and Paterson. Ask those Cities how they feel about depending on a State that just told them to take a hike…. Free money does not last forever….

I respect and understand that this site is extremely skeptical of this current Administration and will turn over every rock in an effort to keep them honest, but I really believe that this project is good for Hoboken. I also believe that our elected officials have an obligation to do what is best for Hoboken. If they are fearful of doing what they know is right deep down inside, than they should resign and allow others the opportunities to make these difficult and maybe even temporarily unpopular decisions, as others have before them.

Being an elected official is the easy part, acting like one is the tough part. If you want to do what is popular, as opposed to what is right, than abolish all taxes. Lets see how that works in running a Government…. We will just depend on volunteer services…

Ps. Jersey City would be Camden if it were not for their downtown development…. A safer Jersey City is also a good thing for Hoboken…..

Member
5 years 1 month ago

I really don’t think this building in that area would “change the feeling of Hoboken” at all. It is practically in Weehawken. I think this is a good project if done correctly, the infrastructure is updated, and there are no PILOT deals associated with it.