Stephanie Spear 
The former Capital One location at 301 Washington Street in Hoboken will soon be the home of five new storefronts on the ground level of a mixed-use commercial building. While the project has been in the works for a while, demolition work has recently entered a new phase, with the former bank location completely gone. Read on for more about what we know about what’s coming to 301 Washington Street in Hoboken in place of the Capital One building.
About the Project
The 301 Washington Street property is made up of eight lots and was sold in December 2022, according to REI-NJ.com. The parcel is one-third of an acre in size and was sold for $9 million to Federal Realty Trust (FRT). FRT is also the owner of 39 other properties in Hoboken, known as The Social, made up of a mix of residential and commercial buildings. That purchase took place in late 2019, per Globe Street.
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At the time, FRT president and CEO Donald Wood said, “This exciting joint venture creates a highly productive business development arm for us in Hudson County. We expect this portfolio to be just the beginning of a very successful long-term relationship.”
A view of the construction, courtesy of HG reader @cupppppajoe
The lot at 301 Washington Street was home to the single-story Capital One bank and a small parking lot for many years. It will now become a five-story mixed-use building, according to materials filed by project representatives. The ground floor will be split between the residential building and 10,000 square feet of retail space.
Demolition at the former Capital One bank location. Photo courtesy of Joelle Hernandez.
The residential entrance will face 3rd Street, and the ‘back’ of the project, facing Court Street, will be incorporated into the overall design. Renderings show garage spaces and a common courtyard. Residents will also have access to a 2,600 square foot rooftop terrace.
There will be 45 total units spread over the five floors: one studio, 27 one-bedroom units, 14 two-bedroom units, and three three-bedroom units. Five units will be considered affordable per local regulations.
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As for the five retail spaces, it’s unknown if the spaces will be divided evenly or if there will be different sizes of the eventual spaces. The area is zoned for Class I bar or restaurant spaces, per Jersey Digs, and the sidewalk can be used for outdoor seating.
The Hoboken Girl has reached out to representatives of Federal Realty Trust and the local architects who are affiliated with the project and will update this piece with more information when we hear back.
