The first part of the multi-phased project will be two mixed-used office and retail buildings on the five-acre site on Morris Street, between Lafayette Avenue and Spring Street. One building will be seven stories with 233,770 square feet of office space and 19,400 square feet of retail. The second building will have six stories and 118,900 square feet of office space and 10,130 square feet of retail. Plans call for large outdoor terraces on the top floor of each building.
M Station is expected to act as a connector between the town’s New Jersey Transit station and the Green and tenants are already signing on. Deloitte has agreed to move its Parsippany operations to 110,000 square-feet at M Station.
According to the project plans, there will be a promenade and public plaza, as well as a parking garage with 889 parking spaces and 33 surface spots. Other site improvements include landscaping, pedestrian improvements, road reconfiguration of Spring Place, and a new roundabout on Morris Street.’
Last month, the Morristown council approved a 30-year PILOT agreement between the developer and the town. The council also endorsed issuing up to $8.8 million bonds for the roundabout and other off-site improvements.
New Jersey has spread the wealth in April with parts of Northern and Southern NJ receiving state funding to move forward with infrastructure projects.
Hoboken received more than $900,000 for various transportation projects through the Municipal Aid Program, the city announced last week. The money will be used for road repaving, the implementation of complete streets, and pedestrian safety upgrades related to Hoboken’s “Vision Zero” program, according to a press release.
“Upgrading our transportation infrastructure, especially our road repaving and pedestrian safety initiatives, are major priorities for my administration,” Mayor Ravi Bhalla said in the announcement. “This funding will help fund our proactive road repaving schedule, with over 100 blocks planned to be repaved in the city this year. I thank Governor Murphy and the State DOT for this generous award.”
The $1 million in funding will go toward projects that focus on pedestrian safety to and from transit facilities, such as sidewalks, and projects that create “safe and convenient ways to cross streets and comfortable and attractive environments” near NJ Transit stations.