Mayor Ravi Bhalla, along with other officials, have announced a plan to erect a new hotel along the Hoboken waterfront.

The Hilton Hotel will be developed on the under-utilized parking lot behind the post office.

“We will be delivering to the residents of the city of Hoboken a world class full service Hilton Hotel right here on our waterfront,” says Mayor Bhalla. 

Mayor Bhalla says an agreement had been reached between city officials, developers and community groups for the 17-story, 270-room hotel.

As part of the plans, the post office parking will be moved to a new underground garage.

The post office, built in 1931, will also get much needed repairs. 

According to developers, the hotel will create $1.7 million in tax revenue for the city and about 120 full time jobs once it's opened. 

The hotel will be the second built along the waterfront, the first a W hotel just a few blocks north.