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.

Government & Public Policy
Extending a hand to Solomon, Jersey City landlords call for more housing to solve budget, affordability woes

Following a contentious campaign, the Jersey City Apartment Owners Association said it was eager to work with new Jersey City Mayor James Solomon, reaffirming its belief that the best way to solve the city’s budget and affordability crises is to build more housing.

Government & Public Policy
NJBA, NJBIA file appeal to stop Murphy-backed flood elevation rules for development

Two top business groups are going to court to block controversial land use and flood protection rules adopted on Gov. Phil Murphy’s last day in office, stepping up their defense against a program that they’ve long said will cripple development throughout the state.

Residential & Mixed Use
Kislak: Private investor buys new 18-unit North Bergen apartment building for $6.8 million

An 18-unit luxury apartment building in North Bergen has changed hands for nearly $6.8 million, in a newly announced deal by The Kislak Co. Inc.

Residential & Mixed Use
JLL: Buyer wanted for newly completed 507-unit senior housing property in Cherry Hill

The owner of a 507-unit senior housing community in Cherry Hill has listed it for sale following its recent completion of the high-profile development project.

Professional Services
Wickner Realty debuts tech-driven third-party management firm

Wickner Realty Development Corp. has launched a new third-party management affiliate that will combine its own experience with what it described as the latest technologies.

Finance & Capital Markets
Russo lands construction loan for 198-unit rental project in Belmar, Cushman says

Russo Development has secured construction financing for a project that will bring 198 new apartments to Belmar’s seaport district, brokers with Cushman & Wakefield announced.

Residential & Mixed Use
Cervelli: Six-unit Jersey City rental building trades with ‘immediate’ value-add potential

A longtime apartment owner in Jersey City has added a six-unit building in the Bergen-Lafayette neighborhood, in a deal arranged by Cervelli Real Estate and Property Management.

Top News
Russo details plan for new Paramus headquarters, breaks ground on Rahway rental project (SLIDESHOW)

Russo Development has started construction on its new 45,000-square-foot headquarters in Paramus, hailing the project as a new chapter in its nearly 50-year history as it looks to modernize its workspace and support its sprawling portfolio.

Government & Public Policy
Solomon: KRE to add affordable housing to Journal Square project, ending plans for Pompidou museum

KRE Group has officially scrapped plans to house a highly touted museum in its latest Jersey City rental project, opting instead to bring affordable housing and potential community space to the site under an agreement with the city’s new mayor.

Residential & Mixed Use
Investor buys updated 31-unit apartment building in Chatham in $11 million deal by ICON

A private investor has acquired a renovated 31-unit apartment building in Chatham for $11.2 million, brokers with ICON Real Estate Advisors announced Monday.