The 15-year legal battle for the Sixth Street Embankment in Downtown Jersey City could come to an end under a proposed settlement that would allow the city to build an elevated park on the former rail line, Mayor Steve Fulop said.

The settlement, which has been agreed upon in principle but not finalized, would allow New York developer Albanese Organization to build two residential towers at the eastern end of the six-block embankment. The city, in turn, would gain control of the rest of the land and build an eight-acre elevated park, similar to New York’s High Line, Fulop said.

“I think we have terms that parties have agreed to and they are going back and forth on settlement documents … it’s been 15 years to get here,” Fulop said. “It’s been a hard puzzle to figure out. I am really proud of the work that our legal department has done with the embankment coalition.”

Imagine an 8 acre elevated park in #JerseyCity like the #HighLine in NYC. Well... after 15 years of litigation, at tonight’s annual Embankment Coalition meeting I had the privilege of sharing w/a packed house that we’re at a settlement. A big win for Jersey City. (Not actual pic) pic.twitter.com/QXL8jSAbfF — Steven Fulop (@StevenFulop) October 22, 2019

Designed by James J. Ferris, the elevated rail line was erected between 1901 and 1905. The stone structure, which spans six blocks between Marin Boulevard and Brunswick Street, once carried seven rail lines on the Harsimus Branch of the Pennsylvania Railroad some 27 feet above the ground, until freight use ended in 1999.

Conrail sold the property to a group of LLCs controlled by Victoria Hyman and her husband Steve in 2005 for $3 million, but the city challenged the sale in court, igniting a legal battle that has lasted almost 15 years.

In 2009, the Historic Preservation Commission unanimously denied developer a request made by Hyman’s husband, Steve Hyman, to tear down the structure. But a federal judge also ruled that year that Jersey City and groups fighting to preserve the Sixth Street Embankment did not have legal standing to reverse Conrail’s sale of the property.

Steve Hyman, who wanted to build housing on the property, led the contentious legal fight against Jersey City until his death in June.

Fulop said Albanese will make a payment to Victoria Hyman for the property under the terms of the settlement. The developer will not receive any tax abatements and will be required to use union labor to build its two residential towers – 45- and 35-story buildings – with a total of 875 residential units.

Victoria Hyman declined to comment on the proposed settlement. Albanese did not return a message seeking comment.

The city will receive the rest of the land for its elevated park, which will be deeded over as a conservation easement to an entity so it will remain a park, Fulop said. It will stretch from Brunswick Street to Marin Boulevard, passing through the land that will be transferred to Albanese.

Fulop said the developer will build stairs and an elevator on the first two blocks of the park. The city will pay nothing to acquire its portion of the property, he added.

“We have been in negotiations and regular meetings for the better part of the last year plus,” Fulop said. “It has been an ongoing conversation … there was a lot of times we thought it would breakdown.”

The Embankment Preservation Coalition, a nonprofit group that has sought a public use for the property for over 20 years, wants a staircase and ramp at both ends of the proposed park, and a wooded area in the middle.

Stephen Gucciardo, a member of the Embankment Preservation Coalition, said if the parties stick to the terms agreed upon the city will have a public recreational space that will preserve the Harsimus Branch railroad.

“(The eight-acre park) is a remarkable accomplishment for a city of this size to assemble that much open space for the public in such a densely populated area,” Gucciardo said. “More details will be forth coming once we nail down this settlement.”

Ward E Councilman James Solomon, who represents Downtown Jersey City, cheered news of the agreement, but said the city must not delay in converting its portion of the property into open space.

“I think there are some things we can do as a city to ensure that once the settlement happens the open space becomes open to the public in a reasonably quick period of time,” he said. “I just want to make sure that we get to that point, of being able to truly say to people, there is a credible plan to turn this into a public space, not just get the land.

“We could get the land and it could sit vacant for 20 years.”

Steve Hyman’s former attorney Dan Horgan once said the property could be worth $40 million.

Jersey City had lost a public record in May when a two-judge appellate panel affirmed a lower court ruling that the city violated the Open Public Records Act in 2015 over documents related to the Sixth Street Embankment.

Steve Hyman died in June at the age of 75, after battling an illness.

Joshua Rosario can be reached at JRosario@jjournal.com. Follow me on Twitter @JRyRosario.