H&M Powerhouse finally getting the attention it deserves

I just read this at the Hudson Reporter (thanks Google News for ever-increasing features that gets me locally relevant news!) which says that the Jersey City Council agreed to a proposal to spend $600,000 to relocate a power substation required in order to redevelop the historic H&M Powerhouse that provided power to the H&M Railroad, the predecessor to the current PATH system. The Powerhouse is currently an eyesore that I walk past every day on my way to work:

The structure was completed in 1908, but operated until only 1929. It's been abandoned since, though the Port Authority does maintain a smaller substation on the property. The plan is to redevelop it. The developer that has been selected is David Cordish, who has lots of experience in revitalizing old structures, in particular powerhouses. He successfully redeveloped Baltimore's Inner Harbor Powerhouse into a Barnes and Noble and ESPNZone. They are also developing Ballpark Village in St. Louis.

This project is designed to link the Jersey City waterfront with the rest of downtown Jersey City by creating the Powerhouse Arts District. This will be a 11-block mixed-use community, with residential, restaurants, and cultural attractions. All of this is being developed right on my doorstep. An exciting time to be a Jersey City resident.

This should also hopefully resolve some discontinuity with the powerhouse and it's surroundings: