After finding its footing in the pandemic, the commercial real estate market was back on its heels by late 2022 thanks to fast-rising interest rates and fears that the worst is still to come. Developers, investors and other industry stakeholders in New Jersey are now bracing themselves for more uncertainty in 2023, as they also prepare to seize the opportunities that often come with economic distress.
NAIOP NJ’s New Year’s resolution: Let’s get the next Energy Master Plan right
Overhauling the Energy Master Plan is an opportunity for impacted stakeholders, like you, to help improve what is currently an unrealistic policy document that has done little to accelerate achieving its lofty goals. Perhaps most striking about the current EMP is it lacks an unbiased estimate of what it’ll cost ratepayers, including commercial real estate owners and tenants. Gov. Phil Murphy acknowledged this glaring omission when he announced the 2024 EMP will “seek to better capture economic costs and benefits, as well as ratepayer impacts.”
