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
Murphy signs ‘land bank’ bill allowing cities to assemble, reposition blighted property

A newly enacted law allows New Jersey municipalities to assemble blighted properties within their borders, creating land banks that they can use to spur much-needed redevelopment.

Residential & Mixed Use
Developers, city officials unveil new park near Hoboken rental project

Local officials have debuted the first piece of a new park on Hoboken’s western edge, which will complement a 14-story residential complex slated to open later this year.

Government & Public Policy
Analytical instruments company moves to North Brunswick with EDA-backed financing

Alliance Calibrations Group, which manages instruments in chemical laboratories, has acquired an 11,000-square-foot facility in North Brunswick that will serve as its permanent headquarters.

Residential & Mixed Use
Manhattan Building Co. eyes sweeping plan to transform Jersey City neighborhood

A developer with deep roots in Hudson County has proposed building more than 2,300 apartments at the edge of downtown Jersey City, seeking to transform several blocks of blighted property just east of the New Jersey Turnpike extension.

Residential & Mixed Use
Somerset closes on 31-acre transit village site in Somerville

Somerset Development has completed its long-awaited acquisition of 31 acres in downtown Somerville, paving the way for a project that includes more than 500 residential units and other uses adjacent to the borough’s train station.

Government & Public Policy
EDA reviewing tax credit awards to Teva, Norcross-linked firms

A state agency is looking into six companies that were awarded tax credits under New Jersey’s beleaguered incentive programs, including a global drug manufacturer and several firms with ties to George E. Norcross III, the powerful South Jersey Democratic leader.

Government & Public Policy
L+M, Prudential land financing to preserve and upgrade Newark housing complex

L+M Development Partners and Prudential Financial have secured financing to preserve and renovate a government-subsidized housing complex in Newark’s South Ward.

Government & Public Policy
Murphy reiterates plan to veto incentives extension, hopes for ‘common ground’

Gov. Phil Murphy doubled down on his pledge to veto a bill to extend New Jersey’s embattled tax incentive programs, while still offering hope for a compromise with state lawmakers.

Residential & Mixed Use
Developers, officials debut $48 million Camden apartment building

A development group has completed a new 156-unit apartment building on the Camden waterfront, delivering the city’s first new market-rate rentals in more than a decade.

Guest Columns
The next chapter in affordable housing in New Jersey

Since 2015, more than 280 towns in New Jersey have signed settlement agreements for their affordable housing obligations, while a judge has determined the statewide need to be about 155,000 units and experts project that about 50,000 of those will be created by 2025. Frankly, the court process is way too far down the road to try and move it back to the Council on Affordable Housing or another state agency. But that is not to say there are not some issues worth discussing as we move forward.