A major milestone was reached Thursday in the construction of Carteret’s new four-story ferry terminal as the final beam was hoisted into place.

The ferry terminal, which will be located next to Waterfront Park, is not expected to be completed until early 2028.

Carteret on Wednesday unveiled plans for an electric, low-emission ferry and announced a $9.6 million grant from the Federal Transit Administration, bringing the total number of planned ferry vessels to three.

A $47.5 million construction contract was awarded last year for the project, which will connect the Carteret Ferry Terminal to Manhattan.

Initial plans call for three to four trips in both the morning and evening, though the number of trips will increase if ridership demands it.

The terminal will also accommodate NJ Transit buses, municipal jitneys and rideshare services and will include approximately 700 parking spaces.

According to a press release, ferry service could begin before the terminal is completed through a smartphone app and a kiosk located at the ferry slip.