7 Seventy House, a transit-friendly multifamily development in Hoboken, New Jersey, promotes public transit usage while simultaneously furthering the city's environmental, social, and economic sustainability objectives. By integrating stormwater management systems, establishing vibrant public spaces and a pedestrian-friendly plaza, incorporating architectural elements that optimize air and light, and implementing traffic-calming measures, 7 Seventy House fosters a unique sense of place while preserving Hoboken's character and augmenting the overall quality of life.
Optimizing Redevelopments: This project would not have been possible without the partnership that was created between Bijou Properties and the City of Hoboken. Through collaboration with the City administration and the Redevelopment Subcommittee, a redevelopment plan was established which allowed the transfer of development rights from the two adjacent parcels (2 & 3) - which are now going to be parks and open space - to the lot which now contains the residential building (1).
To be specific, Bijou Properties purchased two additional parcels each with its own as-of-right zoning. By transferring the development rights from those additional parcels 2 and 3 to the original parcel 1, Bijou was able to develop the two public parks. A comprehensive redevelopment agreement, which included tax incentives, was put in place that allowed the public portion of the project to be built without city dollars. This creative deal making couldn’t have happened without intense collaboration and cooperation between the developer and the City.