A newly built, 350-unit apartment tower in one of Jersey City’s fast-growing neighborhoods is on the market for sale, under a newly announced offering by JLL.
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.
Owners Council Q&A: Alex Cocoziello
It feels that the market is at an inflection point. Geographic location, product type and risk profile determine the ability to raise capital, both debt and equity. Fundamental demand remains firm across the multifamily, industrial, life science and the retail sector, but volatility in monetary policy, the rates market and uncertainty surrounding construction costs have kept capital deployment tepid.
Owners Council Q&A: Lou March
We’re cautiously optimistic about the market. While there have been challenges like increased lending interest rates and the uncertainties associated with them, we’ve found opportunities to innovate and thrive. Leveraging joint ventures, early procurement and efficient planning has allowed us to combat potential delays and unforeseen expenses. Our growth in 2023, despite some projects stalling due to market factors, testifies to our adaptability and resilience in these changing times.
