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
Elizabeth site slated for new residential development

A developer has closed on a former brownfield site in Elizabeth, paving the way for a mixed-use project that will include nearly 50 new homes.

Photos
NJAA honors top multifamily operators, service providers at annual gala

Three multifamily owners and management firms took home the top honors at the New Jersey Apartment Association’s recent Garden State Awards of Excellence gala, where the organization recognized dozens of rental communities and service providers.

Government & Public Policy
Developers, state officials face dual task with Opportunity Zone projects

Amid the rollout of the new federal Opportunity Zone program, developers and public officials are trying to balance two key objectives: Identifying shovel-ready projects — allowing investors to maximize the tax benefits of the law — and steering capital to low-income areas that weren’t already attracting investment and may have higher barriers to entry. The state believes it can check both boxes with the right coordination and by layering in the subsidies that have helped revitalize many of New Jersey’s cities and downtowns.

Top News
HMFA awards $28 million in tax credits, supporting 1,400 affordable housing units

By Joshua Burd The state has awarded its latest round of funding under the federal Low Income Housing Tax Credit program, allowing developers to generate an estimated $270 million in private equity in support of more than 1,400 new affordable…

Residential & Mixed Use
Jonathan Rose lands $92 million for Newark affordable housing rehab

Jonathan Rose Cos. has secured more than $90 million in financing and equity to rehabilitate and enhance a 429-unit affordable housing complex in Newark.

Government & Public Policy
State unveils online navigator, mapping tool for New Jersey Opportunity Zones

State officials have launched a new website and interactive mapping tool aimed at helping local governments, investors and other stakeholders navigate the 169 census tracts in New Jersey that have been designated under the federal Opportunity Zone program.

Residential & Mixed Use
North Jersey multifamily investors launch JV focused on Opportunity Zones

Two New Jersey real estate firms have joined forces with a focus on the new federal Opportunity Zone program, having already teed up more than $85 million in multifamily investments.

Office
Atlantic City milestone: New HQ tower marks completion of Gateway project

South Jersey Industries has opened the doors to its new 72,000-square-foot headquarters in Atlantic City, joining Stockton University’s new campus as part of a high-profile, $210 million project to diversify the city’s economy beyond gaming.

Industrial
WRE: Brooklyn publisher set to buy Rahway building, expand into New Jersey

A large Brooklyn-based publishing company is expanding into New Jersey with the planned acquisition of a 256,000-square-foot building in Rahway, thanks in large part to a 10-year, $8.25 million tax credit package from the state Economic Development Authority.

Government & Public Policy
EDA: Delivery startup weighing 300,000 sq. ft. facility in South Jersey

State officials have offered a 10-year, $39 million tax credit package to encourage an online delivery startup to open a nearly 300,000-square-foot facility in Gloucester County.