BAYONNE, NJ – Just one month after its official announcement, the ground-breaking ceremony for the Costco going on the Military Ocean Terminal (MOTBY) site will be held on Wednesday.

Bayonne Mayor Jimmy Davis, along with several city council members will officially kickoff the “new era” of construction in Bayonne, according to a press release from Davis’ 2018 mayoral campaign.

The new residential complex will also break ground during the ceremony.

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The two projects will “contribute $10 million in new annual tax revenue” to the city, the press release said.

Currently named “Atlantic Realty Residential Development,” the 525-unit complex features new public park space, new roads and an addition to the Hudson River Walkway, the press release said.

The Costco ceremony is scheduled to begin at noon, followed the residential complex at 1 p.m. Both will take place at 120 Chosin Few Way,