Hoboken might soon be the sight of more than one medical marijuana (or medical cannabis) business and a cannabis hub.
Hoboken established a medical cannabis review board and a two percent tax on such businesses earlier this summer. The ordinance also allows for three dispensaries within the city. Hoboken’s planning board must first approve any clinical cannabis dispensaries that apply for permits in the city. The nuances of the ordinance were in development for over a year.
Harmony Dispensary, based in Secaucus, was the first company granted a permit under the new law. It has secured 95 Hudson Street for its Hoboken dispensary. The site contains 5,000 square feet. Their plan calls not only for a dispensary. They also want to create a cannabis social lounge akin to the renowned Amsterdam coffeehouses or a bar.
As seen in the map above, the dispensary will be in the heart of the city near their PATH station and the iconic Carlo’s Bakery.
These are ambitious plans. While social lounges are an intuitive step in legalizing cannabis, they have not been adopted in all the legalized states. Unlike many dispensaries in New Jersey, Harmony is not a Multi-State Operator (MSO). They currently only have one location in Secaucus.
Hoboken and Cannabis
The company Nuka/1906 has been working hard to establish a dispensary there. Former New Jersey Governor Jim Florio serves on their board, and former NJ Department of Health official Jackie Cornell serves as their lobbyist. Nuka/1906 is a Colorado-based brand run by a New Jersey native.
There has been a great deal of discussion of a medical cannabis dispensary opening next door in Jersey City. A dispensary was likely to be awarded there last December but has been held up by a lawsuit held up by COVID.
If the clinical cannabis dispensaries also sell adult-use cannabis once the legalization passes on Tuesday, November 3rd, as many expect will happen, Hoboken could see a massive influx of New Yorkers coming via PATH to purchase legal cannabis. Despite not being fully legal there, New York City is known to have a large, well-established underground cannabis market complete with home delivery.
Nuka is working with Ascend Wellness Holdings, an MSO that says it has secured a property for a dispensary in Bergen County.
Atlantic City is the only other place in New Jersey with two dispensaries. CCF, which received the first AC permit, is unhappy about that. But their cannabis is considered the most overpriced in a state where all the clinical cannabis is considered overpriced.