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.

Finance & Capital Markets
Jersey City developer lands $120 million in debt, equity for 631-unit project, Progress Capital says

The developer of a 631-unit apartment building in Jersey City has secured $84 million in construction financing and $36 million in equity, Progress Capital announced Friday.

Residential & Mixed Use
Long Branch condo project more than 50 percent sold, with closings now underway

Closings are underway at a collection of beachfront condominiums in Long Branch, where a development and brokerage team has sold more than half of the property’s 57 homes.

Government & Public Policy
HMFA details $24 million tax credit round, eyeing 1,200 affordable units

Developers in New Jersey have until late July to apply for a share of $24 million in tax credits to help finance affordable housing, under a new timeline announced Wednesday by a state agency.

Finance & Capital Markets
JLL inks $20.5 million loan for Opportunity Zone acquisition in Jersey City

A fund operated by Columbia Property Trust has secured more than $20 million in financing to acquire a newly completed, 93-unit apartment building in Jersey City.

Residential & Mixed Use
Developers hail leasing milestone at 424-unit Hoboken tower

A new 424-unit luxury apartment building on the western edge of Hoboken is now 50 percent leased, a milestone that comes less than six months after a joint venture debuted the property.

Residential & Mixed Use
Closings underway at condo tower in Jersey City’s Newport section

The first residents have moved into a new luxury condominium tower in Jersey City’s landmark Newport section, marking a milestone for a high-profile redevelopment on the Hudson River.

Policy Page
Waves of change bring opportunity to New Jersey’s suburbs

Jersey is looking better all the time — especially the suburbs. That’s my conclusion after reading a new Rutgers University report that provides an impressive amount of detail and analysis on economic, demographic and market trends which can help public officials plan for the future in ways that may help regenerate our suburbs and the overall state economy.

Finance & Capital Markets
Rental properties in Essex, Camden extend Section 8 contracts with $51 million refi

The owner of two federally subsidized housing properties has closed on more than $50 million in financing, under a pair of transactions by Rockport Mortgage Corp.

Guest Columns
Addressing affordable housing: Government leaders must adapt

After multiple Supreme Court decisions over 50 years, the creation of the Council on Affordable Housing and its subsequent power stripping by the Supreme Court in 2015, over 60,000 units of affordable housing have been created. So, does that mean that the battle over affordable housing in New Jersey is over? Nothing could be further from the truth.

Residential & Mixed Use
Gebroe-Hammer honors broker in $75 million, 487-unit portfolio sale

A broker with Gebroe-Hammer Associates has won a top honor from the firm in connection with last year’s $75 million sale of a 487-unit, 18-building portfolio in Hudson and Bergen counties.