This past week was an historic one for Hoboken, especially for advocates of historic preservation and the revitalization of one of the city's greatest assets -- the once grand Hoboken Terminal. The $125 million commitment by NJ Transit and the Port Authority will serve to restore the ferry slips, build out currently unused interior space and reconstruct a distinctive clock tower. Completion of this project will transform the 96-year old terminal into a 21st Century transportation and retail mecca and ultimately restore Hoboken's greatest landmark.
Equally important, the funding designation constitutes the final piece of the southern waterfront's rebirth and will serve as its anchor both as a transit hub and a retail attraction. The reuse of the old ferry slips, in a state of disrepair since they were last used in 1967, would allow a nearly seamless flow for commuters transferring from rail to boat. The restoration of the vacant space on the second floor, once a waiting and boarding area, could provide abundant space for local retailers and chains. And equally important, for me, is the reconstruction of the clock tower, once the city's most distinguished feature.
The $125 million terminal improvement commitment is a significant accomplishment which would not have happened if not for the hard work and dedication of my good friends, Senator Jon Corzine, Congressman Robert Menendez, Governor James E. McGreevey and State Senator Bernard Kenny, Jr., who also serves as Senate Majority Leader.
This alliance of local, state and national public officials has brought unprecedented resources for public projects that will benefit Hoboken residents and visitors to our community. Approximately one quarter of a billion dollars in state and federal funds are currently earmarked for dynamic community projects, including $100 million in funding to upgrade our existing schools and construct a high school and middle school "campus" in the northwestern portion of the city, which also includes expanded recreational opportunities. Additionally we have nearly $20 million in funding to build a Pier C waterfront park and $2 million in state Green Acres funding for open spaces, such as the Jackson Street Park, the soccer field resurfacing and improvements to other city parks.
I truly believe that Hoboken is New Jersey's greatest city and is certainly a national model of urban renewal. The funding commitment to restore our historic terminal and these other designations will only serve to make us better. The upside potential of our community is unlimited, and I am very pleased that NJ Transit and the Port Authority are committed to the very important Hoboken Terminal project. I would also like to again thank our legislative delegation and all those who have contributed to this project.
Mayor David Roberts