Page 42 - RE-NJ

Professional Spotlight
GENOVA BURNS LLC
OUR EXPERTISE
♦ The Law Firm represents
developers, redevelopers,
property owners and lessees in
complex acquisitions, financings,
leasing and development
projects and transactions
including land use approvals,
redevelopment activities and
local/state/federal incentive
programs.
OUR CLIENTS
We represent developers, landlords
and tenants across the full
commercial real estate spectrum.
Our developer clients range from
major multistate corporations to
boutique and family-owned firms,
handling innovative commercial
endeavors and multifamily
developments. We also advise
large portfolio owners and single-
asset landlords, as well as national
retailers, franchisees, nonprofits and
local businesses. Our experience
spans the full breadth of residential,
office, retail, industrial and mixed-
use assets from acquisition and
construction financing, leasing and
the land use, redevelopment and
approval process.
TRANSACTION
SPOTLIGHT
Genova Burns acted as land use/rede-
velopment and condominium counsel
in connection with the construction of
the new iconic “two-tower on a base”
project, known as The Journal, in the
heart of Journal Square in Jersey City.
The Journal stands 52 stories above
a 12-story base structure (total: 64
stories), housing 1,718 residential
units, inclusive of a wide variety of
unmatched amenities together with
retail spaces and parking. All this was
achieved within steps of the largest
PATH station in Jersey City with trains
to Midtown and Lower Manhattan. The
towers offer magnificent views of New
York City, introduced by a wide ele-
gant public plaza area at street level.
The complexity of the Journal project
required a condominium ownership
structure, creative financing techniques
and cooperative participation at all
levels of government. The Law Firm is
immensely proud of having assisted
ownership in the creation of this gem
in Jersey City.
CREATIVE SOLUTION
Every major project in which Genova
Burns has been engaged inevitably
and, at some point, requires our
attorneys to think “out of the
box.” It might be the formation of
a condominium structure to allow
multiple residential towers on an
appropriately large single lot. It
could also include efforts to weave
tax abatements with redevelopment
area bonds and a redevelopment
agreement to allow a redeveloper
to achieve an acceptable cap rate. It
could also be as complex as satisfying
the needs of mortgage lenders to
adjust to the sometimes-tortuous
process of municipal approvals.
Whatever the issue, Genova Burns
brings its experience, expertise and
knowledge of the law to the table.
ONE MORE THING
We live here, work here and call
these dynamic markets home. Our
attorneys are deeply invested in the
communities we serve, and we care
about what happens to our clients
and their projects. Their success
is our success, and we take pride
in being long-term partners in the
growth and vitality of the region.
494 Broad Street
Newark, NJ 07102