Since taking office in late 2006, Woodbridge Mayor John McCormac has emerged as one of the most development-friendly and pro-business mayors in all of New Jersey. He and his economic development team can boast a record that includes two new power plants, millions of square feet of warehouse space and dozens of new retailers, banks and eateries that have opened during that time.
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Go inside the latest monthly issue of Real Estate NJ, the only New Jersey-based magazine dedicated to commercial real estate in the Garden State.
McCormac: Sharing the benefits of redevelopment with school district is ‘common sense’
Woodbridge Mayor John McCormac is proud of the fact that, for all of the administration’s payment in lieu of taxes agreements with developers over the past decade, not one project has impacted the school system.
But Town Hall is still making sure that the school system is benefiting.
New EDA programs seek to promote street-level leasing, upgrades
The state Economic Development Authority last month unveiled two new funding tools aimed at helping street-level retail and downtown businesses in Passaic, Trenton, Paterson, Camden and Atlantic City.
The federal housing policy mess: Dispelling myths about mortgage subsidies
By Morris A. Davis Since the 1930s, the federal government has actively promoted homeownership as a policy goal. Despite good intentions, our public policy in place after 80-plus years of rules and regulations is not well thought out and poorly…
Life after COAH
Covering real estate had never crossed my mind when I came out of school and started as a metro reporter in Middlesex County. But it wasn’t long before I found myself at council meetings and planning board hearings, listening to developers make their pitch to a town.
The case for the suburbs: Despite vacancy, owners stand out with dynamic spaces and strategies
Experts say the struggles of New Jersey’s suburban office market are not as clear-cut as many still believe. Those challenges are in fact real, but there are still plenty of opportunities for owners and developers to make a splash.
For Westfield development team, a rare opportunity nears completion
The developers of the first modern, transit-oriented multifamily project in Westfield say they’re on track to open the doors of the 70-unit building by this spring. For the joint venture behind the luxury rental community, there’s no overstating the anticipation for delivering a project in one of the state’s most well-known, well-established downtowns.
JLL team provides a cure for New Jersey’s vacant pharma sites
Several of New Jersey’s largest, most prominent life sciences complexes are now on the path toward redevelopment, with new anchor tenants in place or new owners that can reclaim the value of what was left behind.
In the most high-profile cases, a team at JLL has been right in the thick of it.
A new lease on life: Prism, local officials prepare for ‘next chapter’ of Roche campus
The resurrection of the Roche property in Nutley and Clifton is well underway — and Prism Capital Partners is already seeing tangible signs of the promise that its sprawling campus holds.
Not your average fixer-upper: Prism plans major renovations at remaining Roche buildings
For all the appeal of the five modern, institutional-grade office and R&D buildings that were left standing on the former Roche campus, there is still work to be done. In fact, Prism Capital Partners is planning a multimillion-dollar renovation at three of the buildings.
