As New Jersey’s gubernatorial race heats up, housing remains a critical issue. Everyone agrees that we need more market-rate and affordable housing to meet demand, and there is also a consensus that housing prices in New Jersey are too high. But what can the government do differently to address these issues? Policymakers and our next governor need to acknowledge that current government policies are exacerbating these problems, not solving them.
Guest Columns
From one professional to another, our guest columnists offer their opinions and their take on the latest trends and issues facing the commercial real estate sector.
FDU poll finds bipartisan backing for Turnpike expansion from New Jersey voters
It used to be said there was no Democratic or Republican way to pick up waste or plow snow. Even in our divided times, according to a recent FDU poll, New Jersey Democrats and Republicans feel the same about traffic — they want it fixed and strongly agree on an important project to expand the New Jersey Turnpike from Newark Airport to the Holland Tunnel.
Advocacy groups: Funding NJ Transit is critical to state’s economic, environmental future
As the state wrestles over a solution to address NJ Transit’s fiscal cliff, we must not lose sight of the importance of funding public transportation. For years, NJ Transit has made New Jersey a more equitable, environmentally friendly and economically competitive place to live. Our leaders must include a dedicated funding source for NJ Transit operations in the FY 2025 budget. Supporting NJ Transit ensures that hundreds of thousands of transit-dependent riders access jobs, schools and health care, which supports employers and the regional economy.
A focus on housing and development at the 2024 New Jersey Planning and Redevelopment Conference
No matter where you hail from in the Garden State, we can all agree that New Jersey is a great place to live, raise a family or host your business. And yet we face a number of challenges that require thoughtful planning as we promote development that ensures our economic vitality and stability. Together, New Jersey Future and the New Jersey Chapter of the American Planning Association (APA New Jersey) are proud to host our annual Planning and Redevelopment Conference this June 5 to 7, 2024, and invite you to join!
Turning the page on a challenging year for New Jersey’s apartment industry
Like everyone else, we expected 2021 to be better and easier. At the beginning of the year, the vaccines were starting to roll out, the feeling was positive and the worst was behind us. But then the reality of 2021 set in. Across the country, with the rise of the Delta variant, supply chain problems, labor shortages and unanticipated weather events, we were thrust into another difficult year. It wasn’t the 2021 we had all hoped for — it was “2020 redux” — and it was just as challenging but in different ways.
Proptech is a door to opportunity for real estate firms
At Wiss, we are very pleased to partner on this very first feature on proptech and innovation in the premier real estate publication and website in New Jersey. Not only is real estate one of the core industries we serve, it’s an industry that’s ripe for technological evolution. And we are keen about helping those in the real estate and property sector see how proptech can help them thrive.
The domino effect: Without rental assistance, who’s left holding the bag?
When COVID-19 hit the United States, most Americans never imagined the impact it would have on daily life. As the virus spread, states like New Jersey started to implement policies to promote social distancing and to help those impacted by the economic fallout of the crisis, including policies such as an eviction moratorium. While such a policy addresses one specific immediate-term problem, it does not address the systemic need for rent revenue that supports an entire multifamily ecosystem, which is a critical component of New Jersey’s economy and significantly supports the State and municipalities through taxes. Without rental assistance and an understanding that rent is still due, multifamily jobs will be lost, private-sector financial obligations may not be met, utilities will not be paid and municipalities might see shortfalls due to the inability to pay property taxes. That is why we need a rental assistance program immediately.
Addressing affordable housing: Government leaders must adapt
After multiple Supreme Court decisions over 50 years, the creation of the Council on Affordable Housing and its subsequent power stripping by the Supreme Court in 2015, over 60,000 units of affordable housing have been created. So, does that mean that the battle over affordable housing in New Jersey is over? Nothing could be further from the truth.
