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.
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 officials have unveiled a $25 million grant program for small landlords who have lost rent revenue during the coronavirus crisis.
A joint venture has started construction on a $123 million overhaul of a 40-year-old, 406-unit affordable housing property in East Orange.
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.
Construction is underway on a renovation and addition to the Monmouth County Courthouse in Freehold, in a project designed by DMR Architects.
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.
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 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.