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Developing in a ‘Final Frontier’ of Hoboken

NTOINETTE MARTIN The New York Times
A lot along the light rail in western Hoboken, where a 113-unit rental is planned next to a condo.

A lot along the light rail in western Hoboken, where a 113-unit rental is planned next to a condo.


EVEN in a tough real estate market, certain niches are considered evergreens for developers — and Hoboken rental property is clearly one. The latest evidence is a local builder’s plans to erect a 113-unit rental tower on a vacant lot beside the light-rail tracks on the west side, starting work as soon as possible next year.



The builder, Lawrence Bijou, bought the parcel at Monroe and Ninth Streets last July from Tarragon Properties, which was in bankruptcy. It is in a redevelopment zone on the western edge of the city, an area that a city planner recently called “Hoboken’s final frontier.”

“We are very excited about rentals in that part of town,” Mr. Bijou said.

His company, Bijou Properties, will build a nine-story tower to meet gold-level green-building standards, with features like a planted roof and solar-energy generators, he said. Two years ago in downtown Hoboken, Bijou built the Garden Street Lofts condominiums, which became the first mixed-use high-rise project in the state to be awarded gold certification from the United States Green Building Council under the LEED rating system.


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