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
Development group launches first Opportunity Zone projects in Orange

A development team has concluded its first round of fundraising for two projects under the federal Opportunity Zone program, with plans to break ground next year on a combined 168 apartments near the Orange train station.

Government & Public Policy
EDA streamlines, expands eligibility for municipal grant program for stranded assets

The state Economic Development Authority is expanding a program aimed at helping municipalities tackle vacant or underused commercial and retail properties in their towns.

Government & Public Policy
Murphy signs bill to provide redevelopment designation for stranded malls, office parks

Gov. Phil Murphy has signed into law a bill that could help resurrect so-called stranded assets across the state, allowing municipalities to provide new redevelopment incentives for vacant or underused shopping malls and office parks.

Government & Public Policy
EDA opens application period for Opportunity Zone grant program

The state Economic Development Authority has begun accepting applications for a new grant program seeking to help municipalities and counties draw investors to federally designated Opportunity Zones.

Residential & Mixed Use
Buyer wanted for two-tower, 594-unit Newark development site, Meridian says

Brokers with Meridian Capital Group are seeking a buyer for a development site in downtown Newark, one that is fully approved for nearly 600 high-end apartments across two towers.

Residential & Mixed Use
Making a market: Developers, city officials look ahead as renters arrive in downtown Newark

A new stock of luxury, market-rate apartments is beginning to take shape in downtown Newark, where stakeholders hope to attract the type of rental population that can create a 24-hour, seven-day neighborhood that has long eluded the central business district.

Developers say they’re encouraged by the early returns, but are preparing for the market to be tested by larger-scale projects and an influx of additional units. City officials are also preparing for what could be a dramatic uptick in interest from builders — which they will have to balance with public policy goals such as expanding affordable housing for Newark residents.

Government & Public Policy
EDA launches grant program to help towns, counties land Opportunity Zone investments

The state Economic Development Authority is offering $500,000 in grant funding to help municipalities and counties draw investors to federally designated Opportunity Zones.

Government & Public Policy
Pharma firms, delivery startup among latest targets in EDA tax credit review

The state Economic Development Authority is seeking information from another three companies that were awarded tax credits under its embattled incentive programs, amid ongoing scrutiny of the volume of awards and job pledged by the recipients.

Government & Public Policy
NAIOP panelists tout lessons learned amid updates to environmental cleanup program

Technical changes to the 10-year-old Site Remediation Reform Act incorporate many lessons learned since the law was originally enacted, industry insiders said last week, as a bill that would update the program now awaits a decision by Gov. Phil Murphy.

Residential & Mixed Use
Hitting home: Professionalism, advocacy are long-held values for NJAA president

With six months to go as president of the New Jersey Apartment Association, industry veteran Steve Waters says he will continue his focus on both education and government affairs — supporting a membership that comprises more than 210,000 units statewide.