Hudson Reporter
Hoboken council adopts revised Monarch settlement
Agreement earns mixed reviews from the public ×
Hoboken and Ironstate Development will enter into an agreement that will prevent two 11-story towers, known as the Monarch, from being developed on the northern waterfront.
After years of litigation, Hoboken and the developers of the controversial Monarch project may come to an amicable solution now that the Hoboken City Council has adopted a resolution approving a new settlement agreement.
The agreement with Ironstate Development will prevent two 11-story high-rises on Hoboken’s waterfront from being built, provide the city with roughly 1.5 acres of open space, and relocate the city’s Department of Public Works Garage.