What has been culled from published reports and sound bites offered by the duo is a mixed-use project that could carry a price tag of as much as $350 million. The 14-acre site, which Vallone and Gans bought just over two years ago, is apparently being targeted for nearly 1,000 rental apartments and over 200,000 sf of retail and/or office space. It would also have parking space for more than 1,600 cars, a plus for parking-starved Hoboken.
While the developers apparently considered redeveloping some of the 11 vacant Maxwell House buildings as part of the project, the plan now is to raze all of them, according to a published report. And to assuage critics of the project, Gans and Vallone will apparently include a four-acre park on the riverfront in their plans.
Pending necessary approvals, actual work would begin in about a year with completion by early 2006.
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