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
Kislak: Renovated 10-unit rental property in Asbury Park fetches $2.3 million

A private investor has purchased a 10-unit apartment building in Asbury Park for $2.3 million, brokers with The Kislak Co. Inc. announced Monday.

Cover Story
Culture campus: Newark Museum update marks latest milestone as $100 million mixed-use project takes shape around it

New Jersey’s oldest museum has undergone a significant upgrade, solidifying its commitment to serve as a dynamic cultural hub for the region and beyond. It also is considered the cornerstone of the $100 million, blended-use project that’s poised to link two downtown neighborhoods.

Editor’s Note
Building momentum

The Museum Parc project is now taking shape around The Newark Museum of Art, as you’ll read in this month’s cover story, as a development team constructs two new buildings with a combined 250 mixed-income apartments, ground-floor retail and additional cultural spaces such as a vibrant, glass-enclosed gallery. The construction along Central Avenue is now about 50 percent complete, as anticipation builds for full delivery in early 2027.

Retail
Dim sum, dumplings eatery takes 3,700 sq. ft. at Taurasi Group’s Southend Hoboken project

Nana’s Dim Sum & Dumplings is slated to open next summer at Southend Hoboken at 38 Jackson St. in Hoboken. — Courtesy: Nana’s (via The Taurasi Group) By Joshua Burd A fast-growing dim sum concept is entering New Jersey with…

Residential & Mixed Use
Developer nears completion, eyes debut of 622-unit Journal Square rental tower

A major addition to the Jersey City skyline is nearing completion in the form of a 29-story, 622-unit luxury apartment tower that’s slated to hit the market in the coming months.

Finance & Capital Markets
JLL sources $62 million Freddie Mac loan for 541-unit Tower Management rental portfolio

Tower Management Service has secured $62 million in financing for a multistate, 541-unit apartment portfolio that includes four New Jersey properties, in a deal arranged by JLL.

Featured
Landmark launches leasing at 85-unit rental property, its latest in downtown Union

Landmark has unveiled the latest piece of its sweeping Centurion project in Union Township, delivering another 85 luxury apartments and new amenities to a key downtown area.

Residential & Mixed Use
HVPG details plan to preserve, update newly acquired affordable housing in Asbury Park

Hudson Valley Property Group has acquired a 170-unit multifamily complex in Asbury Park, expanding a portfolio that now includes nearly 30 properties in the state.

Office
NJ Transit, Horizon exploring plan to redevelop Newark office sites and build new 250,000 sq. ft. headquarters for health insurer

The site of two office buildings in downtown Newark could become up to 1,000 apartments and retail space under a proposal that involves the prospect of a new ground-up, 250,000-square-foot headquarters for Horizon Blue Cross Blue Shield of New Jersey.

Residential & Mixed Use
Russo, Terminal debut 216-unit rental project as second phase of Orange development

Russo Development has unveiled a second apartment building in Orange, delivering another 216 units along NJ Transit’s Morris & Essex Line and adjacent to a project completed in 2023.