As Dave Gibbons wraps up his two-year term as NAIOP New Jersey’s president, he says the organization has made strides with public policy goals such as a new performance bond law and liquor license reform, while growing to nearly 850 members to become the association’s sixth-largest chapter in the country. But he believes there is always more work to be done in both the legislative arena and when it comes to networking and recruitment.
A newly elected Congress returns in January with Republicans enjoying a slightly expanded majority in the Senate and Democrats taking charge of the House of Representatives for the first time since 2010. I believe that the shift of power in the House to a Democratic majority has opened some opportunities for those of us in New Jersey commercial real estate.
I’ll admit it: The prospect of writing about technical, complex environmental policy can be daunting and frustrating. Especially when it’s not your everyday beat. But there’s no getting around the importance of one policy in particular, at least when it comes to the future of New Jersey commercial real estate. If you polled a group of developers and service providers, many would tell you that the state’s Licensed Site Remediation Professional program has been critical, helping to unlock new opportunities at formerly contaminated sites and adding to the momentum of red-hot product types like industrial and multifamily. Some might find it hard to believe that next May will mark a decade since the program was born under the landmark Site Remediation Reform Act. But with that milestone fast approaching, the LSRP system is getting a fresh look from policymakers and stakeholders.
A developer has completed a major renovation of a 152-unit affordable rental complex in Irvington, thanks in large part to a state financing package.
The state’s Business Action Center has long billed itself as a one-stop shop for helping companies grow in New Jersey and attracting new ones from out of state. That often means finding solutions for commercial real estate needs, from helping a scientist find lab space to assisting Amazon with its ever-growing network of fulfillment centers. It also means helping developers and their professionals navigate the web of state agencies that are involved in real estate decisions, from NJ Transit to the Department of Environmental Protection.
To Carl Goldberg, the need for moderately priced, workforce housing continues to grow in New Jersey, but the cost of structured parking can be a significant hurdle. It’s why he sees an opportunity for the state to help local officials solve that equation.