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.

Editor’s Note
Taking the lead

Industrial space may well be the new darling of commercial real estate. Yet, as we’ve seen recently in New Jersey, it’s also now the biggest target for the type of fierce local opposition that was long reserved for apartment builders.

Residential & Mixed Use
Blue Onyx prepares for pivot to large-scale urban projects, maintaining focus on social impact

Blue Onyx Cos. is filling its pipeline with larger, more ambitious development projects in Paterson and other urban markets, with an eye toward major multifamily and mixed-use investments that it says will still provide social impact and affordably priced homes.

Residential & Mixed Use
Crossroads, CrownPoint buy Dover development site approved for 90 luxury rentals

A developer has purchased a site in downtown Dover with approvals in place to build 90 new luxury apartments on the parcel, in a transaction arranged by Florham Realty Group Inc.

Residential & Mixed Use
Buyer wanted for Newark development site approved for 209 rentals, Veerman says

The owner of a Newark property with approvals for 209 new apartments is seeking a buyer for the parcel’s land interest, in a newly announced offering by Veerman Asset Management.

Residential & Mixed Use
Developers hit leasing milestone for new 99-unit Journal Square rental building

A joint venture has rented 75 percent of a new 99-unit luxury apartment building in Jersey City after the launch of leasing late last fall.

Professional Services
Steady hands: How Genova Burns is helping real estate clients navigate rising rates, market shifts

Genova Burns, home to one of the state’s most prominent real estate practices, is as busy and as integral to the industry as it was before the pandemic and before the Federal Reserve began to raise interest rates last year. Increasingly, though, the Newark-based firm is helping clients either play defense or guide them through this period of uncertainty.

Finance & Capital Markets
JLL suburban tristate capital markets team inks $4.7 billion in 2022 sales

Brokers with JLL’s suburban tristate capital markets team are forecasting a busy 2023 after a year in which they completed some $4.7 billion in sale transactions.

Residential & Mixed Use
Owner of 24-unit North Bergen apartment, retail building sells after 25 years, Redwood says

The longtime owner of a 24-unit apartment and retail building in North Bergen has sold the property for $2.5 million, according to a broker with Redwood Realty.

Professional Services
Veteran architect Weston begins term as AIA New Jersey chapter president

A veteran of the design and construction industry has kicked off his tenure as president of the American Institute of Architects’ New Jersey chapter.

Government & Public Policy
Rutgers launches study on parking usage at multifamily sites, seeking updated state guidelines

The Rutgers Center for Real Estate has launched a study that it hopes will capture real-time data on parking usage at residential properties in New Jersey, as it pushes for updates to the decades-old standards that towns and cities use to guide land use and redevelopment.