Government & Public Policy
Plan for ‘Hoboken Connect’ apartment tower advances with $90 million EDA tax credit

A key piece of a sweeping redevelopment in Hoboken is moving ahead with the support of a 10-year, $90 million tax credit award that was approved last month by state officials.

Government & Public Policy
EDA approves $400 million Aspire tax credit for residential, commercial phases in Sayreville’s Riverton project

The state has approved a 10-year, $400 million tax credit award that will support key phases of Riverton, the massive project that could bring 6.5 million square feet of development to a once-contaminated, long-dormant waterfront property in Sayreville.

Government & Public Policy
EDA to consider $400 million tax credit award for 6.5 million sq. ft. Riverton project in Sayreville

State officials are set to consider a 10-year, $400 million tax credit award that would help advance the massive but long-delayed redevelopment of the former National Lead property in Sayreville, where plans call for 6.5 million square feet of development across a mix of uses.

Office
C&W: Greenbaum renewal leads flurry of leasing at Opal Holdings’ Metropark portfolio

Greenbaum Rowe Smith & Davis LLP has signed a 40,000-square-foot lease renewal for its office in Woodbridge, in one of several newly announced deals by Cushman & Wakefield.

Government & Public Policy
EDA adopts changes to Aspire tax credit program amid higher development costs, increased need for affordable housing

The state has approved several key changes to Aspire, the tax credit program for developers, as it looks to expand eligibility and ensure its continued role in affordable housing production.

Government & Public Policy
Developer lands $90 million Aspire tax credit award for 350-unit Newark rental project

A developer has secured a $90 million tax credit award for its plan to build a 14-story, 350-unit apartment building just south of Newark’s Broad Street station.

Government & Public Policy
EDA approves $34 million in Aspire tax credits for Newark, Union City senior housing projects

Developers are poised to bring new affordable senior housing to Newark and Union City with the help of a combined $33.9 million in tax credits approved under the state’s Aspire program.

Government & Public Policy
RPM lands $29 million Aspire tax credit for redevelopment of historic Trenton property

A plan to bring 120 new apartments to a historic property in Trenton is moving ahead with the help of more than $29 million in tax credits under the state’s Aspire program.

Health Care & Education
EDA approves $271 million tax credit for massive health, life sciences campus in New Brunswick

The state has approved a $271 million tax credit for a plan to build more than 570,000 square feet of research and academic space in downtown New Brunswick, including a new home for the state’s flagship medical school and facilities for startups and entrepreneurs.

Featured
Applications underway for Aspire, a program poised to spur large-scale urban development

The New Jersey Economic Development Authority is now accepting applications for Aspire, an aggressive tax credit program that was designed to encourage redevelopment projects using incentive awards to reimburse developers for certain project financing gap costs. With high costs of construction and mandates at the municipal level related to affordable housing requirements as part of market-rate development projects, the need for a gap financing tool is critical and welcomed by those trying to operate in a tight market.