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.

ULI Northern New Jersey unveils honorees for April awards gala

The Urban Land Institute’s Northern New Jersey chapter has announced the winners of its 2024 Excellence Awards, highlighting a host of projects and professionals involved in land use and development in the state.

NJAA’s Trani promoted to manager of education

The New Jersey Apartment Association has promoted Alexa Trani to manager of education, with a focus on expanding the organization’s professional development platform.

Northwind closes $70 million construction loan to 209-unit Journal Square rental project

A developer has landed a $70 million construction loan to complete a new 209-unit apartment tower in Jersey City’s resurgent Journal Square section.

Investor acquires 321-unit affordable housing tower in Camden, eyes $104 million rehab plan

Hudson Valley Property Group is planning a major preservation and rehabilitation of Northgate Apartments at 433 North 7th St. in Camden, with plans calling for site infrastructure upgrades, mechanical system replacements and many in-unit bathroom, kitchen and apartment safety improvements.…

Rutgers unveils full lineup for high-profile symposium, case study on distressed assets

The lineup is set for next week’s Rutgers Center for Real Estate symposium on distressed property, where some two dozen industry experts will tackle the issue through the lens of a detailed case study.

Reynolds secures $29 million bridge-to-perm loan for 103-unit Orange rental project

Reynolds Asset Management has landed a $28.5 million loan for its newly completed, 103-unit apartment building in Orange, in a deal arranged by JLL.

Advance hits 75 percent leased milestone at 399-unit Harrison rental project

Advance Realty Investors has leased 75 percent of The Wyldes, the sprawling 399-unit luxury apartment property in Harrison that hit the market last summer.

Newark: Developers eye office-to-residential project with $22 million Northwind Group loan

A joint venture has secured $22 million in financing for its plan to expand a Newark office building and repurpose it as a new 10-story, 92-unit multifamily property.

Rockabill adds two vice presidents for supportive housing, underwriting teams

Affordable housing developer and consulting firm Rockabill has added two vice presidents to its Hoboken-based team.

Another chapter

As you’ll read in this month’s cover story, the city of New Brunswick ended 2023 on a high note when Nokia announced that it would become the new home of its iconic Bell Labs division. The company, which will move from its historic campus in the Murray Hill section of Union County, plans to occupy a built-to-suit, 360,000-square-foot research tower at the new HELIX campus by 2028. It’s slated to do so under a lease with SJP Properties, which will build the facility in partnership with New Brunswick Development Corp., the project’s master developer, in a signature deal for the city and for the three-building, multibillion-dollar redevelopment project.