Erin Lanahan 
It’s such a chore sailing around the Hudson River on your multi-million dollar yacht and struggling to find somewhere to dock it for the night right near Jersey City /s/. Well, that’s the current vibe, according to the latest lease approvals — signaling that there could be more marina space coming for luxury yachts to Liberty State Park. The New Jersey House Commission approved a 60-year lease that will let a private marina operator build a huge boat warehouse at Liberty State Park. Here’s what we know about the new lease and what it means for Liberty State Park in Jersey City.
During the meeting held on January 15, The New Jersey Department of Environmental Protection requested and received approval for a 60-year lease with Suntex Marina Investors, a company that owns and manages hundreds of marina properties across the country. Suntex is the current marina lessee, and the approval extends the lease from ending in 2046 to 2086.
The 60-year lease deal is worth around $122 million dollars for the continued operation and improvement of the Liberty Landing Marina. This would allow Suntex to offset the cost of replacing the bulkhead, which would basically make it into a garage for yachts, estimated to run more than $60 million. The proposed three-acre, 70-foot-tall dry boat storage warehouse would hold around 500 boats. It also allows Suntex to invest in other long-term marina improvements. However, Suntex is planning to work with the State to come to a financial arrangement for the State to contribute to its share of project costs. It commits $30 million in taxpayer funds to replace the bulkhead that would protect those multi-million-dollar yachts.
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In addition to the continued operation and improvement of the marina, the new lease would allow the replacement of a severely deteriorated bulkhead at the northern end of the park. It would also allow the removal of eight underdeveloped acres so the NJDEP could develop a new outdoor recreation space along Audrey Zapp Drive in the park called the Marina Green. The new lease also includes provisions for the development of a new dry boat storage facility and rehabilitation of existing in-water slips. All of these plans would take place within the existing leasehold area.
Under the current lease, the State received $300,000 in guaranteed annual retinal income, split between a base rent and a percentage rent. In the new lease, the NJDEP will receive at least $800,000 in annual rent payments, subject to a 10% escalation every five years, as well as extra rent based on marina revenues.
Among the attendees of the meeting were Senator Raj Mukherji and Assemblywoman Katie Brennan.
“…It doesn’t belong to the DEP. It belongs to history and the public,” state Senator Raj Mukherji (D-32) said during the meeting, per Hudson County View. “I think Liberty State Park is not surplus land. It ought not be … a balance sheet item … There were no public hearings to consider this new design. The public should be heard, and it should be more than perfunctory.”
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The senator is a lead sponsor of the Liberty State Park Protection Act. Its legislative efforts aimed at preserving Liberty State Park from extensive commercial development, such as proposals for large-scale venues, like stadiums or superyacht facilities, and instead focused on conservation, recreation, and community access.
“I want to echo my disappointment that this is not a true public meeting. It should be rescheduled. We need to invest in our public resources and should not be relying on this…to make a business venture out of the park.” Assemblywoman Katie Brennan (D-32) said during the meeting, per Hudson County View.
The lease still needs to be finalized and signed by both NJDEP and Suntex before any of these changes can occur.
The Hoboken Girl reached out to the elected officials for comment and will update this piece when we hear back.
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