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.

Residential & Mixed Use
Developer, HMFA unveil 184-unit apartment complex in North Brunswick

Community Investment Strategies has completed its rehabilitation of a North Brunswick apartment complex, delivering 184 new units that will serve as affordable housing.

Government & Public Policy
Saxum plans office project in Austin as first Opportunity Zone investment

Saxum Real Estate has landed in Austin for its first investment under the federal Opportunity Zone program, teaming with a local developer to acquire a site for a new ground-up office building.

Government & Public Policy
Financial services firm eyes 215,000 sq. ft. lease, with help of expiring tax credit program

A financial services firm has proposed leasing more than 215,000 square feet in Morris County with the help of a 10-year, $22.2 million tax credit under the state’s expiring incentive programs, as lawmakers gathered this week to consider an extension of the subsidies.

Government & Public Policy
EDA rebrands 50-acre research, incubator park in North Brunswick

The state Economic Development Authority has rebranded a well-known 50-acre research and incubator park in North Brunswick.

Government & Public Policy
Murphy details tax credit overhaul, unveils new legislation

With less than four weeks to go until New Jersey’s tax incentive programs expire, Gov. Phil Murphy on Wednesday unveiled a bill to establish new subsidies for developers and businesses that would include annual caps on awards and requirements tied to union labor.

Policy Page
Improved transit is key to New Jersey’s future

Legislation was enacted last November that requires NJ Transit to establish an office of real estate economic development and transit-oriented development to assess all its properties and annually recommend how best to increase NJT’s non-fare revenues. The goal is to enable NJT to have more funds to invest in its operations, maintenance and capital projects in order to improve performance for bus, rail and light rail passengers.

Government & Public Policy
Newark developers, city leaders unveil long-awaited park project near Prudential Center

Developers and city officials gathered in Newark on Thursday to mark a milestone more than a decade in the making — the opening of a new public park adjacent to the Prudential Center, setting the stage for a wave of new investment between the arena and Newark Penn Station.

Editor’s Note
Good vibes

As you’ll read in this month’s cover story, local leaders in Red Bank are increasingly open to the idea of redevelopment and smart growth in their community. The 2.2-square-mile borough has long held the cachet of towns such as Montclair and Morristown, but new mixed-use projects have been few and far between.

Industrial
The RealReal opens 490,000 sq. ft. e-commerce center in Perth Amboy

An online luxury consignment shop has officially added to its footprint in New Jersey, marking the opening of its nearly 500,000-square-foot distribution center in Perth Amboy.

Government & Public Policy
Developer, HMFA break ground on 103-unit affordable project in Mount Laurel

Construction is underway on a 103-unit affordable housing complex in Mount Laurel, thanks in part to a subsidy package from the New Jersey Housing and Mortgage Finance Agency.