The owner of a 150-unit apartment tower in downtown Hoboken is refinancing the property for nearly $36 million, in a deal arranged by brokers with JLL.
Marchetto Higgins Stieve Architects
In January of 2020, Marchetto Higgins Stieve Architects (MHS Architects), a premier architectural, planning and design firm specializing in residential and mixed-use multifamily developments, was named 2019’s “Firm of the Year” — a highly esteemed award given by the American Institute of Architects-New Jersey Chapter (AIA-NJ). The honor distinguishes MHS Architects as an exceptional architectural firm and recognizes its impressive success and significant expansion over the past year. In 2021, MHS Architects celebrates a solid 40 years of continued business. The entire team of architects, planners and designers has continuously shown exemplary efforts to serve developers with unwavering dedication and commitment to both design and community building. The creativity and tireless work ethic has MHS Architects well positioned for continued growth in the years to come to better serve clients and communities.
Inflation and the effects on new construction in 2022
As the United States tries to claw its way out of the COVID-19 pandemic, a long-discussed concern in the market has finally started to come to fruition and affect the economy globally. A disrupted supply chain, labor shortages and record government stimulus has begun to drive prices higher leaving nearly all industries uncertain of what the future holds. For the real estate and construction industry, an elevated inflation rate and the setbacks from the pandemic have resulted in what some call a perfect storm that is showing to have a magnified impact on the development costs and timelines of new projects.
Co-working demand grows in New Jersey, as users seek flexibility amid continued uncertainty
After 18 months doing their jobs from home because of COVID-19, many New Jersey workers are returning to flex and co-working spaces. Operators are responding by adding more private suites to their offerings to make users feel safer from infection — and while they’re keeping a wary eye on COVID’s Delta variant, they’re optimistic about demand, for both the short term and long term.
