Residential & Mixed Use

The construction boom in New Jersey is no more evident than in the multifamily and mixed-use sector, thanks to changing demographics and the demand for urban-style living, even in the suburbs.

Residential & Mixed Use
Walters plans April delivery for second age-, income-restricted rental building in Branchburg

Development firm Walters has nearly completed the final piece of a new age-restricted apartment community in the Somerset County township of Branchburg.

Residential & Mixed Use
Logical Buildings launches $110 million platform to help landlords capture energy savings

Logical Buildings, a technology firm that helps landlords manage their energy costs, has launched a new $110 million facility for a so-called virtual power plant project that seeks to help apartments owners realize new savings and reduce their carbon footprint.

Editor’s Note
Finding a spark

We all know that developing in New Jersey is not for the faint of heart. Just ask any of the countless builders who have endured delays or scrapped projects altogether in the face of pushback by residents and a litany of regulatory hurdles.

The flip side? A supportive local government can go a long way in sparking new investment, as we’ve seen in what appears to be a growing list of municipalities in our state. That group includes the city of Orange in eastern Essex County, where at least 1,000 luxury apartments have been planned near two train stations with Midtown Direct service. As you’ll read in this month’s cover story, the projects have the potential to breathe new life into the town of 30,000 residents in 2.2 square miles, following decades of struggles despite its prime location on Interstate 280 and just west of Newark.

Events
IOREBA panel conveys optimism, pragmatism amid market uncertainty (SLIDESHOW)

Speaking at IOREBA’s annual Developers Night, a panel of industry leaders offered both optimism and assuredness, but also frustration about a market that is still fundamentally strong in many respects but grinding along in the face of economic headwinds.

Professional Services
Kislak sees opportunity in market uncertainty, backed by deep ties and decades of service

Leaders of The Kislak Co. Inc. see a resilient market and sustained demand from property investors in 2023 — despite a short-term slowdown amid rising borrowing costs — arguing that buyers and sellers will still find value in multifamily and commercial assets.

Health Care & Education
Stockton eyes May ribbon-cutting for new 416-bed residence hall in Atlantic City

Stockton University is nearing completion of the new six-story, 416-bed residence hall that will mark the latest addition to its growing Atlantic City campus.

Government & Public Policy
Atlantic City: Developer, city officials sign MOU for $3 billion Bader Field redevelopment

A developer has taken a key step in a bid to transform Atlantic City’s Bader Field, signing a memorandum of understanding with city officials in connection with a nearly $3 billion proposal that includes housing, retail and a racetrack.

Residential & Mixed Use
JMF unveils new 125-unit luxury rental property in Morris Plains

JMF Properties has opened the doors to a collection of 125 upscale apartments in Morris Plains, where renters will be a short walk from the borough’s downtown and train station.

Residential & Mixed Use
Hampshire debuts Morristown apartment building with remote work focus, supportive housing (SLIDESHOW)

The Hampshire Cos. has unveiled a new 85-unit luxury apartment building in Morristown, with a design that caters to remote workers and more than a dozen homes reserved for residents with special needs.

Residential & Mixed Use
Hornrock launches leasing at new Hackensack apartment building

Hornrock Properties has taken the wraps off the first piece of what it calls Ivy and Green, a new upscale multifamily development in downtown Hackensack.