CARTERET, NJ – Assembly Speaker Craig Coughlin (D-19) joined Carteret Mayor Daniel J. Reiman today to announce $8 million in direct state funding allocated for the Carteret Intermodal Ferry Terminal building project in New Jersey’s 2023 State budget.
“Speaker Coughlin and our legislative team have been incredibly supportive of the Carteret ferry project and infrastructure investments throughout the 19th District,” said Mayor Dan Reiman. “This state funding will enable our residents and all throughout Central Jersey to soon have a more direct and efficient route to Manhattan and the Financial District, cutting down on gas usage, traffic, pollution, and commute times.”
The $8 million included in the NJ FY’23 budget for the Carteret Ferry Terminal project was approved by the Legislature Thursday and by Governor Murphy on Friday. This funding is in addition to $7.75 million in the NJ FY’22 budget for Phase I of the project, which includes waterside docking, slips, and upland improvements.
“The $8 million in funding awarded by the State for the Carteret Ferry Terminal as well as the millions awarded by the federal government are a direct result of Mayor Reiman’s perseverance in bringing ferry service to Carteret,” said Assembly Speaker Craig Coughlin. “Diversifying and expanding our network of transportation infrastructure is crucial to most efficiently getting people to and from work in one of our country’s most economically productive regions and I applaud partnership at the federal, state, county, and city levels to see this vision become a reality for Carteret residents and commuters.”
In addition, $5.04 million was budgeted for the project in the NJ DOT’s FY’21 capital program; the US DOT awarded Carteret a $6 million grant this year toward the Ferry Terminal; a $6 million Federal Transit Administration grant was awarded in 2018 for the acquisition of a ferry boat; and Congress previously appropriates nearly $2.3 million for the project nearly a decade ago.
Governor Phil Murphy previously said, “The State is proud to make smart investments in mass transit that will benefit existing and new Carteret residents. Funding our transportation infrastructure has been and will continue to be a priority of our Administration.”
The ferry terminal will be the cornerstone for the development of a mixed-use community with condominium, office and retail space, and boardwalk shops. In addition, a parking lot with over 700 parking spaces will be constructed, as well as a 20-foot-wide elevated pedestrian boardwalk connecting the parking lot and the ferry loading area.
Carteret Ferry Terminal Timeline:
The Borough awarded the bid for Phase I of the Carteret Ferry Terminal earlier this month, which includes bulkhead installation beginning in the coming weeks. Upon completion of this bulkhead, the NJDOT Office of Maritime Resources will begin Phase II of the project – approximately 19,500 cubic yards of dredging this summer, followed by the Borough’s construction of waterside and landside improvements. Phase III will include construction of the Carteret Ferry Terminal building, which the Borough plans to break ground on in 2023.
Carteret is currently out to bid on the northern riverwalk, which will extend from Waterfront Park and the Ferry Terminal along the Arthur Kill River to Noe’s Creek. Completion of the northern riverwalk is expected in 2023.
The Reiman Administration has brought over $40 million in dedicated grant funds from the federal and state government towards the Carteret Ferry Terminal project , including:
- $2,213,833 from TEA-21 SAFETEA-LU Congressional Priority Earmarks
- $5,037,000 from an NJDOT FY’21 Smart Move Program Grant
- $6,000,000 from a USFTA-NJ 2017 Transit Ferry Boat Grant
- $8,000,000 from the FY’23 NJ State Budget
- $7,750,000 from the FY’22 NJ State Budget
- $2,321,640 from FY’22 NJDOT Transportation Trust Fund for Dredging
- $4,426,155 from NJDOT FY’22 Transportation Trust Fund
- $678,973 from NJDOT FY’21 Local Aid
- $750,000 from US ARA Sewer/Water Explain Extension
- $6,000,000 from USDOT for Ferry Terminal Building
Carteret’s ferry service will provide reliable, significantly quicker, and more environmentally friendly transportation service to New York City. It will cut travel times to Manhattan to under an hour, while reducing traffic congestion on the New Jersey Turnpike and approaches to the Holland and Lincoln Tunnels by getting more commuters out of their cars.
Additional benefits include:
- Reducing reliance on the automobile in a densely populated area well-suited to the development of robust public transit service.
- Providing redundant transportation service in instances of an emergency or a catastrophic event.
- Providing an affordable, accessible, and dynamic transportation system responsive to current and future customers.
- Protection and improvement of the quality of the natural ecosystem and the human environment.
- Retaining and increasing economic activity and competitiveness.
- Transforming an area of environmental degradation into a catalyst for economic development.
- Accommodating continued population growth in Carteret and the Central New Jersey region.
The Carteret Ferry Terminal is part of Mayor Reiman’s vision to turn Carteret’s waterfront into a popular regional destination, which now includes a waterfront fishing pier, public park, a 185-slip marina, and a 2-mile river walk that’s currently under construction funded through a grant from the Office of Natural Resource Restoration, New Jersey Department of Environmental Protection (DEP).