Government & Public Policy
Development group launches first Opportunity Zone projects in Orange

A development team has concluded its first round of fundraising for two projects under the federal Opportunity Zone program, with plans to break ground next year on a combined 168 apartments near the Orange train station.

Residential & Mixed Use
Somerset closes on 31-acre transit village site in Somerville

Somerset Development has completed its long-awaited acquisition of 31 acres in downtown Somerville, paving the way for a project that includes more than 500 residential units and other uses adjacent to the borough’s train station.

Policy Page
Improved transit is key to New Jersey’s future

Legislation was enacted last November that requires NJ Transit to establish an office of real estate economic development and transit-oriented development to assess all its properties and annually recommend how best to increase NJT’s non-fare revenues. The goal is to enable NJT to have more funds to invest in its operations, maintenance and capital projects in order to improve performance for bus, rail and light rail passengers.

Government & Public Policy
Murphy signs law to create new TOD office at NJ Transit

Gov. Phil Murphy has signed into law a bill that requires NJ Transit to establish an office of transit-oriented development and conduct an annual inventory of its real estate holdings, potentially paving the way for new opportunities across the state.

Government & Public Policy
Murphy unveils Hoboken flood wall location, but fate of rail yards project still unclear

Gov. Phil Murphy has announced a long-awaited plan for a flood barrier at the southern end of Hoboken, although its location could threaten or dramatically alter a proposal to redevelop the rail yards alongside the city’s busy train terminal.

Retail
Elizabeth retail center fully leased after high-profile redevelopment

A newly built shopping center in Elizabeth is fully leased after recent deals with a liquor store and a beauty supply operator, in a set of deals by Jacobs Enterprises and Pierson Commercial.

Government & Public Policy
Flood wall decision looms large for Hoboken rail yards project

State officials could soon make a decision on key flood protection measures in Hoboken — one that could make or break a long-awaited, 2.3 million-square-foot redevelopment of the rail yards at the southern edge of the city.

Government & Public Policy
Lawmakers pass bill to create TOD office within NJ Transit

State lawmakers have approved a bill that would create an office of transit-oriented development within NJ Transit and require an annual inventory of the agency’s real estate holdings.

Residential & Mixed Use
Montclair apartment building hits leasing milestone

A newly built, 40-unit luxury apartment building in Montclair is fully leased.

Government & Public Policy
Christie, Cuomo pledge more than $5.5 billion to Gateway tunnel project

The states of New Jersey and New York will contribute more than $5.5 billion to building a second tunnel under the Hudson River, a long-awaited project seen as critical to the region’s economy and as protection against future flooding events like Hurricane Sandy.