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.

Community
Giving Tuesday generosity inspires Profeta’s fresh produce donation to NJIT Food Pantry

The NJIT community showed its heart on Giving Tuesday late last month, raising a record-breaking $24,000 for the university’s food pantry. The outpouring of support will directly impact hundreds of students facing food insecurity, providing them with not only pantry staples but also fresh produce, professional clothing and hygiene items.

Government & Public Policy
EDA launches grant program for neighborhood capital projects in Atlantic City

The state Economic Development Authority has approved a pilot program to fund capital projects in Atlantic City, seeking to help spur investment at the neighborhood level.

Government & Public Policy
EDA approves $400 million Aspire tax credit for residential, commercial phases in Sayreville’s Riverton project

The state has approved a 10-year, $400 million tax credit award that will support key phases of Riverton, the massive project that could bring 6.5 million square feet of development to a once-contaminated, long-dormant waterfront property in Sayreville.

Residential & Mixed Use
Alpert Group breaks ground on 65-unit affordable senior housing project in West Orange

Construction is underway on a new 65-unit age- and income-restricted housing property in West Orange’s central business district.

Government & Public Policy
EDA to consider $400 million tax credit award for 6.5 million sq. ft. Riverton project in Sayreville

State officials are set to consider a 10-year, $400 million tax credit award that would help advance the massive but long-delayed redevelopment of the former National Lead property in Sayreville, where plans call for 6.5 million square feet of development across a mix of uses.

Residential & Mixed Use
Winn, ART-JIUS Enterprises acquire Paterson housing property, launch $7.5 million rehab

A joint venture has kicked off its renovation of a newly acquired, 68-unit affordable housing property in Paterson that it says will result in updated homes for a host of community members.

Technology
Nokia to open new 360,000 sq. ft. facility in New Brunswick by 2028, eyeing ‘the next 100 years’ of its historic Bell Labs research arm

Nokia Bell Labs will break ground in 2025 on its new 360,000-square-foot facility in downtown New Brunswick, executives said Monday, as they hailed a project that will allow it to remain at the forefront of innovation while boosting its appeal for the state’s future talent pool.

Residential & Mixed Use
CIS lands $9 million in HMFA funding for affordable senior housing project in Moorestown

Community Investment Strategies Inc. has secured nearly $9 million in state funding for a new 82-unit, age-restricted affordable housing development in Moorestown.

Top News
Jeremy Farrell, LeFrak executive and key figure in Jersey City, dies at age 44

The LeFrak Organization is mourning the loss of Jeremy Farrell, a key executive with the real estate firm and the former corporation counsel for Jersey City.

Residential & Mixed Use
Developer unveils 155-unit Newark rental project with affordable housing, space for artists

TAY Investments has opened a new 155-unit apartment building in Newark that will serve as a showcase for local artists and an infusion of housing near the Springfield Avenue corridor.