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
HMFA awards $22.5 million in tax credits, supporting 1,200 affordable units

State officials have awarded more than $22 million in new funding under a federal tax credit program for affordable housing developers, supporting 17 projects that will create some 1,200 units for families, seniors and residents with special needs.

Residential & Mixed Use
Newark apartment portfolio fetches $5.8 million, Kislak says

A four-building, 69-unit apartment portfolio in Newark has changed hands for nearly $6 million, following a newly announced transaction by The Kislak Co. Inc.

Residential & Mixed Use
Woodmont debuts 230-unit project in Roxbury, its latest luxury rental development

Woodmont Properties has opened the doors to an upscale, 230-unit apartment community in the Morris County township of Roxbury.

Residential & Mixed Use
Jersey City rental tower by Ironstate, KRE hits 80 percent leased milestone

Renters have leased more than 440 units in six months at a recently opened luxury apartment building in Jersey City, say co-developers Ironstate Development Co. and KRE Group.

Finance & Capital Markets
Kennedy inks $3 million loan for Bahamas developer

Kennedy Funding has closed a $3 million loan to the developer of a new residential community in the Bahamas, the Englewood Cliffs-based direct private lender announced Monday.

Residential & Mixed Use
Joint venture eyes January launch for 116-unit Rahway project

A development group is set to debut a new 116-unit luxury apartment building in Rahway, touting a location just minutes from the city’s NJ Transit rail station.

Cover Story
Russo Development is bullish on Kearny — and the ability to tap an underserved market

Russo Development has delivered more than 500 apartments in Kearny since mid-2018, with hundreds more in its pipeline, seeing an opportunity in a town that is minutes from downtown Newark and the ability to capture renters who are priced out of neighboring submarkets.

Residential & Mixed Use
Kislak: Bergen County rental portfolio fetches $15.7 million

An affiliate of Alfred Sanzari Enterprises has sold an 87-unit apartment portfolio in Bergen County for nearly $16 million, in a series of deals arranged by The Kislak Co. Inc.

People
SJP names new director of asset management amid growing third-party business

SJP Properties has hired a veteran property manager to support its growing line of construction services and other third-party offerings.

Residential & Mixed Use
Affordable apartments in Newark rehabbed with LIHTC tax credits

State and local officials cut a ceremonial ribbon Thursday to mark the major rehabilitation of a decades-old building with 200 apartments for working families in the city’s Central Ward.