Optimism is nothing new in Newark, with its rich transportation network, cultural institutions and key anchors in business, health care and academia. But the city still struggles with poverty, education challenges and other barriers that have kept it from blossoming alongside places such as Jersey City, Hoboken and other urban markets, despite billions of dollars in new investment. Panelists said as much last week during Real Estate NJ’s Newark Redevelopment Update, as they debated those challenges and how to unlock the city’s long-held potential.
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.
McGuinness reflects on 26 years at NAIOP, as industry leaders praise outgoing CEO
In an interview, outgoing NAIOP New Jersey CEO Michael McGuinness reflected on a tenure that’s been marked by service, stability and impressive membership growth, as chapter leaders touted a record of persistent yet professional advocacy that has earned the respect of both industry executives and government officials throughout the state.
You can’t make it up: Newark’s thinly veiled rent control law is reckless (and illegal)
Newark Mayor Ras Baraka must have snuck into our recent seminar — The Newark Redevelopment Update — and heard the buzz about this proposed resolution because it appears he ran out and got it enacted into law immediately. What is so silly about his maneuver is the fact that it is clearly illegal and will be more than likely overturned rather quickly. So why pass such a resolution in the first place?
