A fresh look

You wouldn’t know it by the last four months, but major news stories are always prone to ebbs and flows. The federal Opportunity Zone program is a case in point when it comes to commercial real estate publications. The investment vehicle has been all the rage at various points since it was created in late 2017, only to take a step back as buzz died down.

HMFA details $24 million tax credit round, eyeing 1,200 affordable units

Developers in New Jersey have until late July to apply for a share of $24 million in tax credits to help finance affordable housing, under a new timeline announced Wednesday by a state agency.

EDA launches grant program to help towns, counties land Opportunity Zone investments

The state Economic Development Authority is offering $500,000 in grant funding to help municipalities and counties draw investors to federally designated Opportunity Zones.

HMFA: Tax credits will fund affordable 1,200 units, focus on Opportunity Zones

The state has detailed plans to finance 1,200 affordable housing units under a federal tax credit program, with an added focus on projects in Opportunity Zones and other newly added criteria.

Developer of Newark’s Teachers Village launches Opportunity Zone fund

RBH Group, the developer of the heralded Teachers Village project in Newark, is hoping to build on that success with a new investment fund under the federal Opportunity Zone program.

Murphy unveils planning grant for Opportunity Zone municipalities

State officials are hoping to spur action by municipalities that are home to Opportunity Zones, unveiling a grant offering to help local leaders strategize for the federal program.

Post-Tax Reform Update: Real Estate Income Tax

The sweeping tax reform brought on by The Tax Cuts and Jobs Act is now in effect, but many Real Estate owners and investors remain in the dark on how these changes will impact their businesses.  With that, Sax’s Real Estate advisors will hold an educational webinar on March 19 to run through the major changes facing the Real Estate industry overall now that tax reform has been implemented, and proposed guidance has been released.

Hampshire acquires Hackensack site, its first Opportunity Zone investment

The Hampshire Cos. has made its first investment under the federal Opportunity Zone program, acquiring a parcel near Hackensack University Medical Center that it will redevelop as part of a joint venture.

Developers, state officials face dual task with Opportunity Zone projects

Amid the rollout of the new federal Opportunity Zone program, developers and public officials are trying to balance two key objectives: Identifying shovel-ready projects — allowing investors to maximize the tax benefits of the law — and steering capital to low-income areas that weren’t already attracting investment and may have higher barriers to entry. The state believes it can check both boxes with the right coordination and by layering in the subsidies that have helped revitalize many of New Jersey’s cities and downtowns.

A white knight for Whitehouse Station

For all the buzz around walkable, urban submarkets and higher-density workplaces, our readers have never lost interest in the fate of the Merck property in Whitehouse Station. I was reminded of that on Jan. 3, when a story about a potential buyer for the complex quickly became the most-read item we’ve ever had on RE-NJ.com.