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 unveils new board nominees, with Mack set to step down as chairman

Mack-Cali Realty Corp. has unveiled a new slate of nominees for election to its board of directors, as longtime Chairman William L. Mack prepares to step down in conjunction with the company’s mandatory retirement age policy.

People
Sanzari touts employee’s 35th anniversary with firm

Alfred Sanzari Enterprises is marking a key employee’s 35th anniversary with the firm.

Residential & Mixed Use
Gebroe-Hammer inks sale of 1,600 units in Q1, with a combined value of $316 million

Gebroe-Hammer Associates completed more than $300 million in first-quarter apartment sales in the region, the firm announced, while expressing optimism about the multifamily sector’s long-term health after it weathers the coronavirus pandemic.

Government & Public Policy
NJAA lauds rental assistance bill, but presses for long-term solution

State lawmakers on Monday are slated to consider a rental assistance bill that could help soften the blow to apartment owners during the COVID-19 crisis, but industry leaders say they need help from the federal government to weather the storm over the long haul.

Government & Public Policy
NJBA expresses ‘100 percent’ support for new COVID-19 construction rules

The New Jersey Builders Association expressed full support for Gov. Phil Murphy’s latest step to slow the spread of COVID-19, even if it meant new limitations for projects that had been exempted under earlier directives.

Residential & Mixed Use
LanTree touts leasing momentum, virtual platform at 70-unit Bayonne project

A developer is off to a fast start at a new 70-unit apartment building in Bayonne, where it’s now relying on virtual tours in order to maintain social distancing for staff and prospective renters.

Government & Public Policy
Murphy halts all ‘non-essential’ construction in N.J., limiting residential and commercial activity

Gov. Phil Murphy on Wednesday tightened restrictions on the types of construction allowed under the state’s social distancing policies, as New Jersey continues its battle against the spread of COVID-19.

Residential & Mixed Use
Virtual tours paying dividends for new luxury rentals in Union

The launch of virtual tours and presentations is bearing fruit for a newly developed, 80-unit apartment building in downtown Union.

Features
Crockett talks diversity, messaging after becoming Mack-Cali’s first female chief administrative officer

Deidre Crockett has become an influential force at Mack-Cali Realty Corp., now serving as the REIT’s first-ever female chief administrative officer and executive vice president.

Finance & Capital Markets
CMC inks $11 million refi for 35-unit rental project in Fanwood

The owner of a newly completed, 35-unit apartment building in Fanwood has refinanced for $11 million, in a transaction arranged by Commercial Mortgage Capital.