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.

Government & Public Policy
NJ Transit seeks to ramp up role of real estate, development office, DOT chief says

State officials are seeking to “provide a stronger response” to developers looking to build around NJ Transit’s rail and bus stations, hoping to jumpstart a plan to monetize the agency’s vast but underutilized real estate portfolio.

Government & Public Policy
Scotch Plains issues RFQ for long-awaited, mixed-use downtown redevelopment

Scotch Plains has kicked off its search for a developer that can bring new commercial, residential and civic spaces to its downtown, under a long-discussed plan by the municipality.

Residential & Mixed Use
Developers land $42 million for affordable housing near Newark’s University Hospital

A development team has closed on $42 million in financing for a project that will bring 78 affordably priced apartments to an area just north of Newark’s University Hospital.

Government & Public Policy
Industrial builders flock to Franklin after zoning change, bringing new life to aging office sites

Franklin Township has more than 4 million square feet of industrial space in its development pipeline — most of it in the town’s well-known Somerset section — with a growing list of projects that call for razing and repurposing the sites of outdated office buildings.

Featured
Applications underway for Aspire, a program poised to spur large-scale urban development

The New Jersey Economic Development Authority is now accepting applications for Aspire, an aggressive tax credit program that was designed to encourage redevelopment projects using incentive awards to reimburse developers for certain project financing gap costs. With high costs of construction and mandates at the municipal level related to affordable housing requirements as part of market-rate development projects, the need for a gap financing tool is critical and welcomed by those trying to operate in a tight market.

Government & Public Policy
Newark eyes redevelopment, kicks off demolition of 82-year-old public housing complex

Newark city officials on Thursday took a key step toward redeveloping a historic but blighted public housing complex, where plans call for a new mixed-income residential complex and potential commercial uses such as business incubators, film studios and research space.

Residential & Mixed Use
Two years after massive fire, Bound Brook looks to rebuild momentum for downtown revival

With the addition of 500 new apartments in recent years and hundreds more in the pipeline, local officials in Bound Brook are forging ahead with efforts to revitalize their downtown.

Professional Services
Gibbons adds former Newark housing, economic development official to real estate team

A former key economic development official with the city of Newark has joined Gibbons PC as a director in its real property group, the firm announced Tuesday.

Health Care & Education
Becton Regional High School eyes $55 million expansion tied to upcoming bond question

Becton Regional High School has proposed a 90,000-square-foot expansion of its campus, as depicted in this rendering, in connection with a $55 million bond referendum scheduled for March 8. — Courtesy: Becton Regional High School

Government & Public Policy
EDA takes first step toward launching tax credit for reviving historic buildings

State officials have approved a set of proposed guidelines for a new incentive program to support the restoration of New Jersey’s historic buildings and neighborhoods.