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.

Office
Mack-Cali still focused on selling suburban portfolio, leasing waterfront, acting CEO says

Mack-Cali Realty Corp. will largely stay the course for now, its interim CEO said this week, with a continued focus on selling its suburban office buildings and stabilizing its waterfront portfolio as it searches for a permanent chief executive.

Government & Public Policy
Relaxed deadlines could bring new attention, momentum to Opportunity Zone projects

The COVID-19 pandemic has threatened to stall many development projects nationwide, including those under the federal Opportunity Zone program, but experts say those investments could gain new momentum after a series of recent steps by regulators.

Residential & Mixed Use
North Bergen condo project tops out, eyes Q1 delivery

A condominium building under construction in North Bergen is on track to open early next year after marking the completion of vertical construction.

Residential & Mixed Use
Apartments at landmark Newark tower top 90 percent leased milestone

A collection of more than 200 apartments inside a newly restored, 21-story building in downtown Newark is on the verge of being fully leased.

Residential & Mixed Use
Woodmont, Canoe Brook launch construction at Secaucus apartment project

Woodmont Properties and Canoe Brook Development have started construction on a new 116-unit luxury apartment property in Secaucus.

People
Larken Associates adds senior project manager, director of construction accounting

Larken Associates has expanded its in-house construction team with the addition of two veteran industry professionals.

Government & Public Policy
Resident protection bill would have ‘devastating’ impact on property taxes, operations, NJAA says

The state Assembly has passed a bill that would shield residents from eviction and require landlords to create payment plans for past due rent during the pandemic, drawing renewed criticism from the apartment industry.

Residential & Mixed Use
Walters opens fifth building, marks completion of Manahawkin rental complex

Walters has completed construction on the last of five buildings at a 60-unit, income-restricted apartment community in Ocean County.

Editor’s Note
A fresh look

You wouldn’t know it by the last four months, but major news stories are always prone to ebbs and flows. The federal Opportunity Zone program is a case in point when it comes to commercial real estate publications. The investment vehicle has been all the rage at various points since it was created in late 2017, only to take a step back as buzz died down.

Industrial
Tulfra breaks ground on self-storage project at Rochelle Park redevelopment site

Tulfra Real Estate has started construction at the site of a self-storage facility in Rochelle Park, part of a plan to redevelop a former AT&T data center site near Route 17.