The role of demographics and government were in focus recently as NAIOP New Jersey hosted its annual CEO Perspective event. Joined by a crowd of professionals and developers, four executives highlighted key trends and policies that are shaping New Jersey’s real estate sector, while raising questions about what could impact the industry in the near term.
Government & Public Policy
From zoning disputes to the federal tax code, public policy affects the commercial real estate sector far more than you may realize. For industry leaders, government and politics demand constant attention.
Devco, public officials break ground for New Brunswick Performing Arts Center
The New Brunswick Development Corp., public officials and a host of other stakeholders broke ground Wednesday on the $172 million New Brunswick Performing Arts Center project. Slated to rise 23 stories on Livingston Avenue, the mixed-use complex stands to transform the city’s famed downtown cultural arts district, spanning 450,000 square feet that will include performance venues, office space and more than 200 luxury apartments.
Long-term issues need long-term solutions
When the drafters of the federal and New Jersey constitutions established the length of terms for elected leaders from two to six years, they probably thought those were the right lengths to enable those leaders to focus on both short- and long-term issues. Unfortunately, most of the focus has been on the short term with little planning for the longer-term issues. Long-term has come to mean getting past the next election.
