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.

Policy Page
CRE.Converge takeaways: Connectivity, technology and flexibility yield resilience

Over 1,000 of commercial real estate’s top owners, developers, investors and allied professionals gathered in Miami Beach last month for NAIOP’s CRE.Converge event to hear insightful discussions with industry thought leaders.

Editor’s Note
Starting anew

The debate over New Jersey’s corporate incentive programs has been well-chronicled in recent years, but regardless of where you fall on the issue, there’s no denying their influence on the state’s commercial real estate market. That influence was all but gone for two years after Grow New Jersey and other subsidy programs were allowed to expire in summer 2019, with no immediate replacements in sight until Gov. Phil Murphy and lawmakers agreed on new incentives late last year. The state is now putting those offerings to work, starting with the jobs-based Emerge program that will fill the void left by Grow New Jersey.

Top News
NYT: Netflix to bid on 289-acre Fort Monmouth parcel, eyeing massive production hub

Netflix has declared its intention to bid on nearly 300 acres of property at Fort Monmouth, where it reportedly wants to build a sprawling production studio after outreach by Gov. Phil Murphy.

Office
It’s official: Party City, local leaders announce company’s move to Woodcliff Lake

Party City will in fact move its corporate headquarters to Woodcliff Lake, where it will lease more than 200,000 square feet to backfill a soon-to-be-vacant office building.

Government & Public Policy
Newark boosts potential for state funding, assistance with new ‘Transit Village’ designation

The city of Newark has become a state-designated Transit Village, making it eligible for additional funding and guidance from Trenton as part of its ongoing development efforts.

Residential & Mixed Use
New 65-unit senior housing property coming to ex-hospital site in Vineland

A developer has broken ground on a two-building, 65-unit senior housing complex in Vineland, helping to repurpose the former site of a hospital that closed in 2004.

Top News
Liberty Science Center kicks off $300 million, mixed-use expansion in Jersey City

The Liberty Science Center has broken ground on a sweeping, $300 million expansion that will add a new business incubator, a high school and 400 apartments to its campus in Jersey City.

Residential & Mixed Use
Bloomfield redevelopment plan enters home stretch with start of 224-unit residential project

A developer has kicked off the third and final phase of a project in downtown Bloomfield, where plans call for more than 200 new apartments and retail and restaurant space.

Government & Public Policy
State places 289-acre ‘mega parcel’ at Fort Monmouth on the market for sale

The state is seeking a buyer for nearly 300 acres at Fort Monmouth, the site of what it hopes will be a large-scale project to join other redevelopment efforts at the former U.S. Army base.

Residential & Mixed Use
Petrucci, TD+ Partners break ground on 172-unit rental project in East Orange

A development team has broken ground on more than 170 apartments in East Orange, adding to the city’s fast-growing construction pipeline of market-rate and affordable units.