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.

City native spearheading long-awaited redevelopment at Elizabeth transit site

A new mixed-use building will bring 267 upscale apartments and 36,000 square feet of office, restaurant and retail space to the corner of Union and West Grand streets in Elizabeth, the site of a long-vacant redevelopment parcel near an NJ Transit train station.

Government officials not acting fiduciarily responsible

Since mid-March, our national GDP has plunged and New Jersey’s unemployment rate is startling, as budgeted state and local revenues are hemorrhaging. COVID-19 has made matters far worse and the budgetary pains and economic slowdown will be significant and sustained under any scenario. Our state and local elected officials must now make difficult decisions that do not jeopardize our future.

State launches $25 million relief program for small landlords hurt by COVID-19

State officials have unveiled a $25 million grant program for small landlords who have lost rent revenue during the coronavirus crisis.

CPP, L+M launch $123 million rehab of East Orange senior housing complex

A joint venture has started construction on a $123 million overhaul of a 40-year-old, 406-unit affordable housing property in East Orange.

Relaxed deadlines could bring new attention, momentum to Opportunity Zone projects

The COVID-19 pandemic has threatened to stall many development projects nationwide, including those under the federal Opportunity Zone program, but experts say those investments could gain new momentum after a series of recent steps by regulators.

DMR touts start of addition, renovation at county courthouse in Freehold

Construction is underway on a renovation and addition to the Monmouth County Courthouse in Freehold, in a project designed by DMR Architects.

Resident protection bill would have ‘devastating’ impact on property taxes, operations, NJAA says

The state Assembly has passed a bill that would shield residents from eviction and require landlords to create payment plans for past due rent during the pandemic, drawing renewed criticism from the apartment industry.

A fresh look

You wouldn’t know it by the last four months, but major news stories are always prone to ebbs and flows. The federal Opportunity Zone program is a case in point when it comes to commercial real estate publications. The investment vehicle has been all the rage at various points since it was created in late 2017, only to take a step back as buzz died down.

BNE, local officials break ground on first phase of major redevelopment in South Amboy

BNE Real Estate has broken ground on a 291-unit residential building in South Amboy, the first piece of a sweeping waterfront redevelopment that will yield nearly 2,000 new apartments.

Newark approvals include tax abatement for second ‘Shaq Tower’

A proposed 370-unit apartment tower in Newark has secured a 30-year tax abatement, as city officials move to advance a series of planned developments despite the pandemic.