A team of Villanova University students took top honors for this year’s NAIOP New Jersey case study competition, offering a winning plan to repurpose a former silk mill in Paterson.
The virus that is radically reshaping our world
My original plan for this Earth Day was to report on New Jersey’s sustainability challenge and how commercial real estate is adapting to natural, governmental and market forces. Given the magnitude and velocity of the COVID-19 disruption that is hourly reshaping our economy, industry and very existence, that plan quickly evaporated. Instead, this piece discusses the general impact of COVID-19 on our economy, and how CRE developers, owners, asset managers and affiliated professionals are meeting these challenges, assisting in relief efforts and informing government at all levels on how best to navigate their strategic response.
A new way of doing things for 2020
My hope for 2020 is that our government officials will find the courage and willingness to tackle some thorny issues, including: overhaul New Jersey’s retirement and health care plans for state and school employees, consolidate school districts and remove barriers to allow regionalization of tax assessment, health services, municipal courts and fire and police services. If tackled, these measures will, over time, provide for better care and services to taxpayers while freeing up billions of dollars to invest in infrastructure, retraining and education programs and reducing the crushing tax burden on residents and businesses.
Mobility trends are transforming real estate: Are we prepared?
Autonomous vehicle (AV) development is advancing quickly and will be here before you know it. With widespread adoption, AVs have the potential to substantially reshape transportation patterns and real estate demand. Municipal governments, through land use regulations and zoning, will play an important role in determining how transportation and land use evolves.
