City of Hoboken Council Meeting Minutes February 2026
Hoboken Amends Lease for Affordable Senior Housing with CIS
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Description
The City of Hoboken approved an amendment to the 99-year lease agreement with Community Investment Strategies, Inc. for affordable senior housing at 259 11th Street. CIS will construct, operate, and maintain up to 36 deed-restricted units in exchange for nominal rent and full responsibility for taxes and charges.
Contract Details
Contract Amount
$10 for 99-year lease
Vendor
COMMUNITY INVESTMENT STRATEGIES INC
Agency
City of Hoboken, NJ
Contract Type
OTHER
Document Date
February 23, 2026
Contract Term
99 years
Renewal Date
2125-02-23
Renewal Info
Amends prior approved but unexecuted lease; 99-year term. Affordable housing restrictions to remain for duration of lease.
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