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.

Event Coverage
Panel: Newark remains a land of opportunity for housing, business — despite long-term hurdles

Optimism is nothing new in Newark, with its rich transportation network, cultural institutions and key anchors in business, health care and academia. But the city still struggles with poverty, education challenges and other barriers that have kept it from blossoming alongside places such as Jersey City, Hoboken and other urban markets, despite billions of dollars in new investment. Panelists said as much last week during Real Estate NJ’s Newark Redevelopment Update, as they debated those challenges and how to unlock the city’s long-held potential.

Government & Public Policy
Scotch Plains taps Woodmont as conditional redeveloper in long-awaited downtown project

Scotch Plains has designated Woodmont Properties as the conditional redeveloper for more than nine acres in its downtown, following a multiyear search aimed at jumpstarting a long-awaited plan for the central business district.

Residential & Mixed Use
Accurate launches leasing at new 185-unit apartment community in Little Falls

Accurate has unveiled another piece of its fast-growing luxury apartment portfolio with the launch of leasing at a new 185-unit property in Little Falls.

Community
Blue Onyx, Paterson Music Project host festival supporting Turkey-Syria earthquake relief

A crowd of Paterson residents and community leaders descended on the city’s Great Falls section earlier this month, supporting relief efforts for the recent earthquake in Turkey and Syria while showcasing a local after-school music program for students.

Residential & Mixed Use
Brookfield, G&S break ground on 802-unit high-rise at ShopRite property in Jersey City

A joint venture has broken ground on a high-rise that will add more than 800 apartments to downtown Jersey City, in the latest phase of a plan to transform a well-known retail property.

Residential & Mixed Use
Larken Associates’ Irwin elevated to property manager

Larken Associates has promoted a leasing consultant on its multifamily team to the role of property manager, the Branchburg-based firm announced Tuesday.

Residential & Mixed Use
Petrucci, TD+ Partners unveil 172-unit rental property in East Orange

J.G. Petrucci Co. Inc. has completed a new 172-unit luxury apartment building in East Orange, having transformed what was a vacant site about two blocks from Interstate 280.

Residential & Mixed Use
Vango debuts 60 units for second phase of Rutherford rental project

Vango Development has launched leasing at 60 new luxury apartments in downtown Rutherford, in the second piece of a project just two blocks from the borough’s train station.

Government & Public Policy
‘Indistinguishable from rent control:’ Critics expect legal challenge to Newark law penalizing landlords, warn of development slowdown

The state’s commercial real estate industry is pushing back on a new ordinance in Newark that aims to limit rent increases at new, non-rent-controlled apartment buildings, arguing it will stifle development and the creation of affordable housing — while openly doubting its legality.

From the Publisher
You can’t make it up: Newark’s thinly veiled rent control law is reckless (and illegal)

Newark Mayor Ras Baraka must have snuck into our recent seminar — The Newark Redevelopment Update — and heard the buzz about this proposed resolution because it appears he ran out and got it enacted into law immediately. What is so silly about his maneuver is the fact that it is clearly illegal and will be more than likely overturned rather quickly. So why pass such a resolution in the first place?