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.

Office
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.

Retail
Wick breaks ground on 60,000 sq. ft. retail center at historic Woodbridge intersection

Wick Cos. LLC has broken ground on more than 60,000 square feet of new retail space in Woodbridge that will revitalize a long-vacant property at the junction of routes 1 and 35.

Editor’s Note
The right mix

It may well be decades before New Jersey’s suburban office market is no longer overbuilt. That is, of course, assuming that property owners and local officials find the type of common ground needed for redevelopment, as we try to highlight when we come across those stories. We have one such example in our latest issue.

Professional Services
McManimon Scotland adds Shahid, Stern to deepen commercial real estate, bankruptcy teams

Falak Shahid has joined McManimon Scotland & Baumann LLC as an associate with its commercial real estate practice, one of two new additions to the Roseland-based firm.

Residential & Mixed Use
Dunellen planning board OKs 50-unit rental project downtown, Taylor Architecture says

A developer has secured a key approval for a project that would bring 50 new apartments and commercial space to Dunellen’s growing downtown.

Professional Services
MSW adds Russo, Lesser as associates to strengthen land use, construction law teams

Murphy Schiller & Wilkes has bolstered several key practice groups with the addition of Tiana Russo and Joshua Lesser as associates, the Newark-based firm announced.

Government & Public Policy
EDA approves $11.5 million Aspire award for Somers Point affordable housing project

A developer is planning a 43-unit affordable housing project in Atlantic County with the help of a newly approved, $11.5 million tax credit under the state’s Aspire program.

Top News
NJPAC breaks ground on $336 million campus expansion with 350 rentals, arts education hub

Construction is set to begin on a long-awaited expansion of the New Jersey Performing Arts Center’s campus in Newark, part of a $336 million project that will bring 350 new apartments, office and retail space and a 58,000-square-foot arts education and community center.

Government & Public Policy
EDA approves $8 million tax credit for Atlantic City office-to-residential project

A developer has secured a key tax credit award for its plan to convert a historic office building in Atlantic City into 56 loft-style apartments and commercial space.

Government & Public Policy
BPU, developers eye continued growth of rooftop solar with new $156 million EPA grant

New Jersey’s solar industry is getting a $156 million infusion of federal funds, as state officials continue their focus on projects that will help low-income and disadvantaged communities.