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.

Parting thoughts: Outgoing NAIOP New Jersey president reflects on chapter’s growth — and continued priorities

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.

Washington preps for divided government in 2019: New Jersey may benefit

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.

Policy watch

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.

Brooklyn electrical contractor buys Paterson building for $7.8 million

An electrical contractor is expanding into New Jersey with its purchase of a Paterson industrial building, under a $7.8 million deal arranged by Team Resources Inc.

HMFA, developer unveil renovated housing complex in Irvington

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.

New York-based marketing firm eyes HQ move to Paramus, 25,000 sq. ft. lease

A marketing firm based in Rockland County, New York, is weighing a move to Bergen County, where it would lease nearly 25,000 square feet in connection with an incentive package approved by the state Economic Development Authority.

Led by Willoughby, Business Action Center lends its support to developers, tenants

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.

Solving the parking problem: Goldberg sees a role for the state in urban redevelopment

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.

EDA approves $14.7 million incentive for proposed Gucci call center in Jersey City

The state has approved a 10-year, $14.7 million tax credit to encourage luxury fashion giant Gucci to open a new 52,000-square-foot call center on the Jersey City waterfront.

American Water unveils new 220,000 sq. ft. headquarters in Camden

American Water has opened the doors to its new 220,000-square-foot headquarters in Camden, the first completed piece of a high-profile, billion-dollar redevelopment of the city’s waterfront.