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
Busy times ahead

As you’ll read in this month’s cover story, the 1.1-square-mile community is benefiting from a flurry of activity in recent years, including the completion of three projects with a combined 450 housing units and new retail space as part of a coordinated plan to revitalize its downtown. That effort is more than two decades in the making, meaning officials there are eager to continue that momentum with the balanced but collaborative strategy that has attracted new investment and outside recognition.

Government & Public Policy
EDA approves $64 million Aspire award for 210-unit Bayfront project in Jersey City

The first piece of the highly touted Bayfront housing project in Jersey City is moving ahead with the help of a newly approved, $64 million tax credit award under the state’s Aspire program.

Residential & Mixed Use
Owner of 1,032-unit Plainsboro rental property seeking buyer for 52-acre complex

A massive garden apartment complex in Plainsboro is on the market for sale, according to brokers with JLL, with the potential to draw offers of more than $300 million.

Residential & Mixed Use
Kislak closes sale of Perth Amboy’s Remington Rooming House for $2.4 million

The Perth Amboy YMCA has acquired a mixed-use rooming house property in Perth Amboy for $2.4 million, in a newly announced deal by The Kislak Co. Inc.

Residential & Mixed Use
Walters: First renters arrive at new 63-unit affordable housing property in Chatham Twp.

Walters has welcomed the first residents at a new 63-unit, income-restricted multifamily property in Chatham Township after completing the development late last year.

Residential & Mixed Use
Invel Capital buys 111-unit Waldwick rental property for $39 million

Invel Capital has acquired a 111-unit multifamily property in Waldwick for $39 million, adding an asset that was built less than a decade ago and is steps from NJ Transit rail service.

Finance & Capital Markets
Reynolds inks $30.5 million refi for 103-unit Orange rental project, in JLL-brokered deal

Reynolds Asset Management has closed on a $30.5 million loan to refinance a new 103-unit apartment building in Orange, the developer announced Tuesday.

Top News
Denholtz Properties rebrands as Denholtz, highlighting focus on investment management

Denholtz Properties, the real estate firm founded more than 70 years ago, has shortened its name as part of a rebrand announced Tuesday by its Red Bank-based team.

Finance & Capital Markets
Buyer of 77-unit Somerset rental property lands $18 million bridge loan from NewPoint

NewPoint Real Estate Capital has provided $17.75 million in bridge financing to the buyer of a new 77-unit multifamily property in the Somerset section of Franklin Township.

Residential & Mixed Use
LCOR breaks ground on 386-unit rental tower for sweeping ‘Hoboken Connect’ project

Construction is underway on the new 386-unit apartment tower that will mark a key private-sector component of a landmark, mixed-use project around Hoboken Terminal.