The first piece of the highly touted Bayfront housing project in Jersey City is moving ahead with the help of a newly approved, $64 million tax credit award under the state’s Aspire program.
Gov. Phil Murphy has signed a law to expand the Aspire tax credit program for developers, in part by allowing projects in New Brunswick, Camden and East Orange to secure larger awards, while taking steps meant to help applicants secure construction financing.
Netflix has taken a major step in its plan to build a 1.1 million-square-foot studio campus at Fort Monmouth, having secured a $387 million tax credit award under New Jersey’s Aspire program.
A developer is planning a 43-unit affordable housing project in Atlantic County with the help of a newly approved, $11.5 million tax credit under the state’s Aspire program.
A project that would bring more than 200 new apartments to downtown Newark is moving ahead with expanded support from the state, securing approvals for up to $74 million in Aspire tax credits from the Economic Development Authority.
The state has pledged its support for two more residential projects in Newark, approving more than $142 million in combined subsidies under the Aspire tax credit program.
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.
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.
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.
A sweeping plan to expand the New Jersey Performing Arts Center campus in Newark has secured a 10-year, $200 million tax credit award under the state’s Aspire program, in a key step for a project that would include 350 apartments and new commercial and community spaces.
