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.

Residential & Mixed Use
Jersey City’s Bayfront project awarded $1.6 million federal grant

Jersey City has snagged a $1.6 million federal grant for the highly touted Bayfront project, where plans call for hundreds of homes for low- and moderate-income renters as part of a sweeping redevelopment of 100 acres along the Hackensack River.

Residential & Mixed Use
Woodmont, Canoe Brook start construction on 199-unit rental project in Randolph

Woodmont Properties and Canoe Brook Development have broken ground on a project that will bring 199 new luxury rental homes to the Morris County township of Randolph.

Residential & Mixed Use
New 51-unit rental building in Bound Brook fetches $15 million, in Veerman-brokered deal

A developer has sold a newly completed, 51-unit apartment building in Bound Brook for $15 million, in a deal arranged by Veerman Asset Management.

Health Care & Education
Hackensack Meridian breaks ground on new office, health center at mixed-use Metropark site

Construction is set to begin on nearly 250,000 square feet of new corporate and medical office space in Woodbridge, the future home of a Hackensack Meridian Health facility and the first piece of a distinctive mixed-use project at the Metropark train station.

Residential & Mixed Use
Carino joins NRP Group as vice president of development

The NRP Group has bolstered its team in the Northeast apartment sector with the addition of Patrick Carino as vice president of development.

Professional Services
DIGroup names Haas, Koehler to leadership team as associates

DIGroup Architecture has promoted both Kate Haas and Debbie Koehler to the associate level, making them the first non-architects at the 18-year-old firm to achieve the designation.

Finance & Capital Markets
Cronheim sources $6 million loan for 74-unit Hackensack rental property

The owner of a 74-unit apartment building in Hackensack has closed on $6 million in long-term financing for the property, in a deal arranged by Cronheim Mortgage.

Residential & Mixed Use
Boraie lands $90 million Aspire tax credit pledge for 333-unit Newark residential project

Boraie Development has secured a 10-year, $90 million tax credit award to build a 25-story, 333-unit luxury apartment tower along the Passaic River in downtown Newark.

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.