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Technical changes to the 10-year-old Site Remediation Reform Act incorporate many lessons learned since the law was originally enacted, industry insiders said last week, as a bill that would update the program now awaits a decision by Gov.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

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.