The path is by no means clear, not even by the most optimistic accounts. But new guidelines on addressing New Jersey’s affordable housing deficit is a key starting point for builders and advocates as they mull the next phase of residential development in the state. Stakeholders have said as much in recent weeks, conveying cautious optimism even as they grapple with the financial hurdles, legal battles and political debates that have slowed housing production in the past.
Cover Story
Our monthly cover story in Real Estate NJ is a must-read, as we bring you an insider’s look at the decisions, personalities and economic conditions that are shaping the market.
Finding a balance: For Reynolds, right-sizing office space has been key to Lawrence Township redevelopment plan
The planned redevelopment of Princeton Pike Office Park in Lawrence Township will feature the mixed-use elements that are increasingly popular in New Jersey. But, departing from the trend, it will keep half its office space.
Three buildings at 3131 Princeton Pike, now known as CANVAS, will be demolished starting this fall or in early 2025, making way for 204 apartments and 17,000 square feet of restaurant and retail space. That will reduce the office space at the park by nearly 40 percent, to about 167,000 square feet, leaving three buildings that are now thriving and nearly fully leased after a recent makeover.
The health care effect: Inside the deal for Hackensack Meridian’s new hub at Metropark — and what it says about the industry’s role in commercial real estate
Plans for a high-profile Hackensack Meridian Health facility in Woodbridge are only 18 months in the making. Yet it was the product of relationships that had formed years earlier at the upper levels of New Jersey’s real estate and health care sectors, helping to make good on years of planning by state and local officials to activate the Metropark train station.
Going greener: From rainwater recycling to composting, apartment builders see a new frontier in sustainability
For some apartment developers, LED lighting and electric vehicle chargers just won’t do when it comes to sustainability. A handful of new rental projects in New Jersey are making that clear with more cutting-edge, eco-conscious features such as oversized green spaces, rainwater recycling and even an on-site composting system.
