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
Buyer wanted for Hoboken development site approved for 60 luxury rentals, CBRE says

A development site in Hoboken is on the market for sale with approvals in place for a seven-story, 60-unit luxury apartment building with street-level retail space.

Residential & Mixed Use
Larken near full occupancy across 2,500-unit multifamily portfolio after strong 2023

Larken Associates is eyeing continued growth for its residential platform after a strong year of leasing activity across its existing portfolio of some 2,500 apartments.

Residential & Mixed Use
EDA pledges $200 million Aspire tax credit for mixed-use ‘NJPAC District’ project in Newark

A sweeping plan to expand the New Jersey Performing Arts Center campus in Newark has secured a 10-year, $200 million tax credit award under the state’s Aspire program, in a key step for a project that would include 350 apartments and new commercial and community spaces.

Events
ULI Northern New Jersey unveils honorees for April awards gala

The Urban Land Institute’s Northern New Jersey chapter has announced the winners of its 2024 Excellence Awards, highlighting a host of projects and professionals involved in land use and development in the state.

Government & Public Policy
NJAA’s Trani promoted to manager of education

The New Jersey Apartment Association has promoted Alexa Trani to manager of education, with a focus on expanding the organization’s professional development platform.

Finance & Capital Markets
Northwind closes $70 million construction loan to 209-unit Journal Square rental project

A developer has landed a $70 million construction loan to complete a new 209-unit apartment tower in Jersey City’s resurgent Journal Square section.

Deals
Investor acquires 321-unit affordable housing tower in Camden, eyes $104 million rehab plan

Hudson Valley Property Group is planning a major preservation and rehabilitation of Northgate Apartments at 433 North 7th St. in Camden, with plans calling for site infrastructure upgrades, mechanical system replacements and many in-unit bathroom, kitchen and apartment safety improvements.…

Events
Rutgers unveils full lineup for high-profile symposium, case study on distressed assets

The lineup is set for next week’s Rutgers Center for Real Estate symposium on distressed property, where some two dozen industry experts will tackle the issue through the lens of a detailed case study.

Finance & Capital Markets
Reynolds secures $29 million bridge-to-perm loan for 103-unit Orange rental project

Reynolds Asset Management has landed a $28.5 million loan for its newly completed, 103-unit apartment building in Orange, in a deal arranged by JLL.

Residential & Mixed Use
Advance hits 75 percent leased milestone at 399-unit Harrison rental project

Advance Realty Investors has leased 75 percent of The Wyldes, the sprawling 399-unit luxury apartment property in Harrison that hit the market last summer.