NJFuture Redevelopment Forum 2015 Rothman

Hoboken Flood ProtectionRedevelopment in an Era of Risk

Eric Rothman

March 13, 2015

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51,000Residents

$13.8bResidential Value

2,600Businesses

17,600Employees

Rebuild By Design: Why Hoboken?

6Modes of Transit

50,000Daily 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

TOTAL PHASE I COST

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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 RISKINSURANCE

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 RothmanPresident

HR&A Advisors, Inc.

212-977-5597

[email protected]

om

Hoboken Flood ProtectionRedevelopment in an Era of Risk