Education
Plans to revamp mall parcels with new apartments, public space taking shape across New Jersey
Redevelopment is coming to some of New Jersey’s largest malls, as owners and local officials weigh plans to add apartments, health care facilities and vibrant public spaces meant to infuse them with new foot traffic. Proponents say the projects are essential to the long-term health of even the most successful assets. In other cases, they’re a potential lifeline to once-dominant shopping hubs that have become obsolete and seen their values plummet in recent years.
Changing times
As you’ll read in this month’s cover story, redevelopment is coming to some of New Jersey’s largest malls — from the mecca of Paramus to Burlington County — as owners and local officials mull the future of their cherished shopping centers. Increasingly, those plans call for bringing new apartments, health care facilities and vibrant public spaces meant to create new foot traffic. Many of these projects are now moving forward in the Garden State, with more to follow, despite pockets of opposition and the challenge of repurposing a sprawling property with longstanding anchor tenants.
VIDEO: The Newark Redevelopment Update
Watch the full presentation from our June 7 seminar, where the developers and insiders behind Newark’s most important commercial real estate projects debated the long-held opportunities and challenges in New Jersey’s largest city.
Indian biotech firm headed to Hopewell life sciences campus, eyes new manufacturing plant
A global biotech company is coming to New Jersey, with plans to open a new manufacturing plant near Princeton for its first location outside its home country of India.
JLL: S. Hekemian Group lands financing for retail, surgery center project in Montvale
The S. Hekemian Group has secured financing for a project that will bring more than 84,000 square feet of medical and retail space to a sweeping redevelopment site in Montvale.
