A joint venture has started construction on a $123 million overhaul of a 40-year-old, 406-unit affordable housing property in East Orange.
Mack-Cali still focused on selling suburban portfolio, leasing waterfront, acting CEO says
Mack-Cali Realty Corp. will largely stay the course for now, its interim CEO said this week, with a continued focus on selling its suburban office buildings and stabilizing its waterfront portfolio as it searches for a permanent chief executive.
Relaxed deadlines could bring new attention, momentum to Opportunity Zone projects
The COVID-19 pandemic has threatened to stall many development projects nationwide, including those under the federal Opportunity Zone program, but experts say those investments could gain new momentum after a series of recent steps by regulators.
North Bergen condo project tops out, eyes Q1 delivery
A condominium building under construction in North Bergen is on track to open early next year after marking the completion of vertical construction.
Apartments at landmark Newark tower top 90 percent leased milestone
A collection of more than 200 apartments inside a newly restored, 21-story building in downtown Newark is on the verge of being fully leased.
DMR touts start of addition, renovation at county courthouse in Freehold
Construction is underway on a renovation and addition to the Monmouth County Courthouse in Freehold, in a project designed by DMR Architects.
AIG to join growing tenant roster at Goldman Sachs tower, inking 230,000 sq. ft. lease
American International Group Inc. will lease a reported 230,000 square feet at the Goldman Sachs tower in Jersey City, marking the latest high-profile addition to the 40-story building.
Resident protection bill would have ‘devastating’ impact on property taxes, operations, NJAA says
The state Assembly has passed a bill that would shield residents from eviction and require landlords to create payment plans for past due rent during the pandemic, drawing renewed criticism from the apartment industry.
Walters opens fifth building, marks completion of Manahawkin rental complex
Walters has completed construction on the last of five buildings at a 60-unit, income-restricted apartment community in Ocean County.
A fresh look
You wouldn’t know it by the last four months, but major news stories are always prone to ebbs and flows. The federal Opportunity Zone program is a case in point when it comes to commercial real estate publications. The investment vehicle has been all the rage at various points since it was created in late 2017, only to take a step back as buzz died down.
