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.

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.

Events
From the publisher: Join us June 7 for The Newark Redevelopment Update

Real Estate NJ is going to have a seminar on June 7 at NJIT regarding Newark and its revitalization. Newark means a lot to me. I grew up in Maplewood and took the bus with my friends to downtown Newark to hang out on Broad Street. We would go into Bamberger’s, Hahne’s, S. Klein on the square, etc. After the riots of 1967 Newark changed dramatically and has still not recovered from the stigma of that event. Over the last 15 years I have spent a lot of time in Newark in philanthropic endeavors and have been disappointed that Newark has not made the progress in revitalization that I had hoped it would.

Residential & Mixed Use
Developer sells 34-unit Bound Brook rental building for $10.8 million, Veerman says

A developer has sold a three-year-old, 34-unit apartment building in Bound Brook for nearly $11 million, in a deal arranged by Veerman Asset Management.

Finance & Capital Markets
Prime City, Manasquan Bank ink $7.5 million construction loan for Long Branch rental project

A developer has closed on $7.5 million in construction financing for a 31-unit apartment building in Long Branch, with a groundbreaking set to take place next month.