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.

Retail
Mixed-use building in Scotch Plains trades after renovation, Boniakowski says

A tenant at a newly renovated mixed-use building in Scotch Plains has acquired the property, according to The Boniakowski Commercial Real Estate Group.

Government & Public Policy
EDA approves $114 million tax credit for major HMH health care hub, apartments at Metropark

The state has pledged nearly $114 million in tax credits over 10 years to a project that would transform the Metropark train station in Woodbridge, where plans call for 235 apartments and nearly 250,000 square feet of office and medical space for Hackensack Meridian Health.

Roundtable
How is Gen Z influencing design or construction choices for new apartment buildings?

How is Gen Z influencing design or construction choices for new apartment buildings? We assembled a panel of industry experts to tackle this month’s question.

Residential & Mixed Use
Clinton apartment, retail property trades for $1 million, Kislak says

A private investor has acquired a nearly 5,200-square-foot apartment and retail property in Hunterdon County for $1.05 million, in a deal arranged by The Kislak Co. Inc.

Professional Services
Coletta Commercial adds Heller as multifamily, commercial broker

Veteran broker Eric Heller has joined Coletta Commercial as a multifamily and commercial adviser based in its Point Pleasant Beach office.

Residential & Mixed Use
Alpert Group, Newark officials break ground on first phase of Terrell Homes redevelopment

Construction is underway on a project that will bring dozens of age-restricted affordable housing units to Newark, the first piece of a multiphase plan in the city’s East Ward.

Residential & Mixed Use
Marcus: New Jersey rental market to stay resilient despite crush of new supply in 2024

Sustained demand will likely stave off a major spike in apartment vacancy in northern New Jersey, Marcus & Millichap said in a new report, despite what’s slated to be the largest infusion of new supply in decades with more than 15,000 units coming online this year.

People
Saxum promotes five after banner year for investments, development

Saxum Real Estate has promoted five members of its Summit-based team, following a year in which it reached more than $1 billion in capitalizations.

Residential & Mixed Use
Fantin signs 100th lease at 297-unit Overlook Flats project in Journal Square

A developer has leased more than a third of a new 297-unit apartment building in Jersey City, one of the latest additions to the city’s booming Journal Square neighborhood.

Finance & Capital Markets
PGIM inks $41 million loan for rehab of 321-unit Camden affordable housing tower

PGIM Real Estate has provided nearly $41 million in financing to a developer that plans to revitalize a 321-unit affordable housing property in Camden, the lender announced.