“Madison Views”-
Hoboken, NJ

We have reached a new milestone for Madison Views. The property approaches its final stages of approval. The developer’s agreement is under review. We anticipate that it will be signed soon by the mayor. Meanwhile, the Hoboken Council has approved the property’s zoning approval petition. It is now moving on to planning approval. This stands as the final stage of site planning. The approval board is now very well acquainted with the Madison Views project. They only need to issue final approval of the site’s plans.

Our CDs are now almost 100%. We have compiled a finished package of all professional disciplines that we have sent as part of our bidding process to potential GCs, to draw them into the project. These GCs will work to fine tune the construction budget.

All the while, we draw into the home stretch with the city. Architects will continue to fine tune the conceptual documentation according to comments issued by the city council and Planning Board. We remain eager to gain approval and apply for permits to demolish the existing building, all to make way for our new high density high-rise building.

Our timeline indicates that construction will consist of two years of work. By then, an appetite for homes along New Jersey’s Gold Coast would have only increased, especially in the post-COVID era. The total sell-out of The Green Roof Condos validated our belief that New Jersey’s Gold Coast is a hot market filled with eager buyers. We only need to make space.

These factors, when all taken into consideration, should allow us to pounce on the Hoboken housing market when our condos arrive for pre-sales. There is precious little “New” Hoboken housing, due to the limited land supply as well as the navigational nuances of the approval process. The new construction projects should be able to bring Hoboken into a new dimension of real estate availability.