Project Represents Start of City’s Redevelopment Plan For Northwest Corridor

HOBOKEN, NJ - (July 20, 2005) - Hoboken residents soon will have another way to beat the heat during those hot New Jersey summer days.

Mayor David Roberts today stood on the future site of the City’s first
public swimming pool and community recreation center to announce that
construction will begin next spring, with the facilities open to the public
in time for the summer of 2007. The Mayor was joined by members of the City
Council and principals from Tarragon/URSA Development Group, LLC.

“This project not only represents a tremendous community amenity for the
children of Hoboken, but also marks a significant step towards redeveloping
the City’s northwest corridor,” said Mayor Roberts. “When all is said and
done, this previously blighted section of Hoboken will be reborn through a
responsible mix of public open space, green parks, athletic fields,
residences and retail.”

The Northwest Redevelopment Zone, created by the City Council in the late
1990s, consists of blocks of vacant and under utilized former industrial
sites that are being converted to residential and other productive community
uses. The new community center and pool will be located on 11th Street,
between Monroe and Madison Streets. Tarragon/URSA owns the site and has
already started demolition and site clearing activities. When completed,
the community center and pool will ultimately be transferred to the City as
a public facility.

According to Mayor Roberts, the City will host a series of community
meetings to solicit feedback from residents prior to construction of the
community center and pool. “This project is a key element of our 17-acre
open space initiative and it is important that we incorporate ideas from our
residents. This will be the City’s first new community building in more
than 30 years and it is important that we do it right.”

Preliminary plans for the 26,000 sq. ft. community recreation center include
exercise rooms, lockers and showers, exercise rooms, dance studio and
community activities rooms. The public swimming pool will include a
separate children’s pool area as well as an outdoor deck with the entire
area bounded by a brick and ornamental landscape fence along Madison,
Eleventh and Monroe streets

According to one of the principals of the development team, Hoboken has
needed community projects like these for some time.

“As kids who grew up in Hoboken, we always dreamed of having new facilities
like these,” said Michael Sciarra, referring to his partner at URSA
Development, Mark Settembre. “We are proud to give back to a community and
a City that has made such a difference in our lives.”

The City and Tarragon/URSA are working on a redevelopment plan for the area
that will include a mix of multi-use development of residential units and
retail space with 5.5 acres of open public space with a pedestrian/bike
path, a green linear park with designated children play areas, seated and
landscaped areas, and a dog run. In addition, the State School Construction
Program will build a multi-purpose baseball/soccer field at 12th and Madison
Streets.