Councilwoman Fisher Disappointed in Supreme Court Ruling on Monarch Development, Fulluy Supports and Expects No Impact on Mayor Bhalla’s Settlement Agreement

Hoboken, N.J. – Today, the New Jersey Supreme Court issued its ruling in Shipyard Associates LP vs City of Hoboken, against the City of Hoboken and upholding the Appellate Court’s decision on the controversial Monarch residential tower development proposed for the northern shore of Hoboken’s waterfront.  It is the last ruling in a long, litigious fight to protect one of Hoboken’s last remaining waterfront sites from irresponsible development; a battle that began in May 2011 when the Hoboken community first learned that the developer planned to renege on its promise of delivering open space and tennis courts that had been negotiated over a decade earlier.  Nine years later to the month, the protracted legal battle comes to an end, however a settlement agreement signed by both parties in August 2019 that would protect this portion of the waterfront, still survives.  Hoboken Councilwoman Tiffanie Fisher, who has been at the forefront of this battle since the beginning, is confident that the terms of the settlement agreement will remain unchanged, and that a critical piece of Hoboken’s waterfront will remain in public hands for the future.  Councilwoman Fisher releases the following statement:

“This is an incredibly disappointing and final ruling on what has been an epic community fight against irresponsible development on Hoboken’s waterfront.  Everyone has their issue that gets them off the couch and mine was Monarch.  This started me on a path of advocating not only against the project but for protecting our entire waterfront, a path I continue to follow today” said Councilwoman Fisher.

“I remain committed to supporting the settlement terms that Mayor Bhalla negotiated with Shipyard last summer that provided for not only keeping the former Monarch site as public open space, but also building a much-needed, state-of-the-art Public Works Garage.  Importantly, because the settlement agreement already contemplated this ruling by crediting the developer with the full development value for the Monarch site, I am confident today’s decision will not negatively impact the terms of the settlement nor the outcome to Hoboken residents and taxpayers.  As I always have, I remain in this fight and am committed to continuing my advocacy for our waterfront and working hard to see this agreement come to fruition.”