Hoboken Flood Protection
Redevelopment in an Era of Risk
Eric Rothman
March 13, 2015

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51,000
Residents
$13.8b
Residential Value
2,600
Businesses
17,600
Employees
Rebuild By Design: Why Hoboken?
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Modes of Transit
50,000
Daily Passengers

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Why Hoboken? Density of assets merits a comprehensive
solution

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Concept: 4 phases of protection

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Concept: Design

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Value Proposition: Comprehensive flood defense can generate
significant value
PRESERVE
 Valuable assets such as transit hub and
high-density development
 Opportunity to avoid business disruption
and preserve day-to-day function of
vibrant economic center
REDUCE
 Avoid costs of emergency services in flood
events
 Coordinated investment can provide
savings over alternative protection
strategies for both City and affected
properties
ENHANCE
 Defend the city and support contextual
real estate development
 New amenities will provide value to the
community
SUSTAIN
 Long-term value creation for the entire
community

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Value Proposition: Beneficiaries

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Value Proposition: Benefits case attracted $340M in federal
support, with a $130M funding gap remaining
Other Potential
Sources:
 Local/State/Federal
Agencies
 Value Capture
 Public-Private
Partnerships
HUD-Rebuild By Design
$230 M
FTA-NJTransit Long Slip
$110 M
FUNDING NEED
$130 M

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Funding Options: Multijurisdictional Public Funding Partnership

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Funding Options: Value capture from planned redevelopment
could support project implementation

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Funding Options: Public-private partnerships with insurance
companies may offer an alternative capital funding source
FLOOD RISK
INSURANCE
CLAIMS
RESILIENCE
INFRASTRUCT
URE
reduc
es
decreas
es

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Funding Options: Green infrastructure incentives can engage
private property owners to make Phase II property-scale
improvements

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REPLICABILITY: Model for a continuous, maintained, and
defended NJ shoreline with urban centers that have adapted to
living with water
Flood Risk City
Impacts

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Momentum: Regional momentum for resiliency through programs
such as National Disaster Resilience Competition and 100
Resilient Cities
Roads & infrastructure
Reduce flooding and
improve drainage
Relief center networks
Resiliency of small
businesses
Residential resiliency
upgrades
Expanded health care
services

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Thank You
Eric Rothman
President
HR&A Advisors, Inc.
212-977-5597
ERothman@HRAAdvisors.c
om
Hoboken Flood Protection
Redevelopment in an Era of Risk