Towns file federal lawsuit over New Jersey affordable housing law, adding to state litigation

The coalition of towns seeking to undo New Jersey’s new affordable housing law is taking its case to federal court, arguing the framework violates the Constitution’s equal protection clause.

Hudson Atlantic: Camden County rental property sold after income restrictions expire

A private investor has acquired a 284-unit senior housing property in the Camden County borough of Barrington, in a newly announced deal by Hudson Atlantic Realty.

Newark Museum joins LMXD, MCI to break ground on 250 apartments, new artist spaces

Construction is underway on a project that will expand the footprint of The Newark Museum of Art, infusing the property with new mixed-income housing and public and exhibitions spaces.

Towns challenging new affordable housing law detail latest strategy, eyeing Jan. 23 hearing

The coalition of towns seeking to block New Jersey’s new affordable housing law will soon have another day in court, having raised fresh concerns about the process that state officials will use to resolve zoning disputes and about a set of newly released regulations.

LMXD, MCI and Newark Museum secure $94 million in financing for arts campus project

A development team has closed on $94 million in financing for a plan to bring 250 apartments, retail space and a new gallery to the Newark Museum of Art’s campus on Central Avenue.

Cautious optimism: Developers, advocates say new DCA guidance brings much-needed structure to affordable housing debate

The path is by no means clear, not even by the most optimistic accounts. But new guidelines on addressing New Jersey’s affordable housing deficit is a key starting point for builders and advocates as they mull the next phase of residential development in the state. Stakeholders have said as much in recent weeks, conveying cautious optimism even as they grapple with the financial hurdles, legal battles and political debates that have slowed housing production in the past.

EDA approves $45 million in Aspire tax credits for senior affordable housing projects in New Brunswick, West Deptford

The state has announced two new approvals under the Aspire tax credit program, pledging a combined $45.4 million to affordable housing projects in New Brunswick and West Deptford.

EDA approves $11.5 million Aspire award for Somers Point affordable housing project

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.

Tredway, LIHC launch $20 million update of newly acquired Newark senior housing

An investment group has closed on its purchase of a 100-unit, age-restricted apartment tower in Newark with plans to begin a $20 million overhaul of the affordable housing property.

Bearing fruit

I’m as guilty as anyone of overusing words like “transformative” when it comes to major redevelopment projects. But it seems in some instances like there’s no avoiding it. A case in point is a plan for Woodbridge’s Metropark train station, where surface parking lots will become a new office and ambulatory care center spanning nearly 250,000 square feet, as well as 235 luxury apartments and retail space. If you ask me, that seems transformative enough.

Our cover story this month is a deep dive on that project, which Hackensack Meridian Health unveiled in early March alongside Gov. Phil Murphy and a team that includes Russo Development, Onyx Equities and Dinallo Development.