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Real Estate

Prism set to break ground on 230 million Edison Village project

Edwin Cohen, principal partner of the firm, said the Edison Village project — which represents what he called New Jersey’s inland largest redevelopment project of its kind — was drafted in 2006 to convert the former Thomas Edison Invention Factory and Commerce Center into condominiums on 21 acres of land. However, after Prism began demolition ...

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Power 100 cover Iwo Jima meets LBI

Creating the NJBIZ Power 100 list is a long and laborious process. One of the fun parts of the process is deciding how to depict the list on the cover of NJBIZ. When Managing Editor Joe St. Arney and I began kicking around ideas many weeks ago, we knew superstorm Sandy needed to be part ...

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High court begins consideration of executive order to banish COAH

In June 2011, Christie placed state affordable housing policy under executive control by transferring COAH’s functions to the Department of Community Affairs. Once that executive order took effect, the Fair Share Housing Center immediately appealed it, and in March 2012, the Appellate Division decided Christie’s reorganization plan violated state law, reinstating COAH’s authority over municipalities’ ...

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Sandy grant helps hire 500 for storm cleanup

Labor and Workforce Commissioner Harold J. Wirths made the announcement during a visit to Hillsborough, one of the communities utilizing grant-funded workers. Some 22 people are working in Hunterdon and Somerset counties, the state said.“The day after the storm hit, my staff went to work to secure this National Emergency Grant with the goal of ...

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Mack-Cali acquires Roseland luxury properties near Boston

The Edison-based real estate investment trust announced today that it had acquired one of the assets, a 310-unit rental property, for $61.3 million and has agreed to purchase a separate 412-unit asset for $88.7 million. The properties, Alterra at Overlook Ridge IA and IB, are being sold by a joint venture including Prudential Insurance Co. ...

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Off-track wagering comes to Gloucester

To start collecting bets on horseracing at the site by the summer, Penn has already signed a lease for the 15,000-square-foot retail space, and, pending local and state approvals, it will utilize the second of Freehold’s four OTW licenses. The first was employed by Pennwood Racing — a joint venture between Penn National Gaming and ...

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Christie’s town hall tally hits 100

Wednesday marks a milestone of sorts in Gov. Chris Christie’s administration. Today the governor holds the 100th town hall of his tenure when he greets constituents at 3 p.m. in Manahawkin, Stafford Township.The events, which have become a hallmark of Christie’s governorship, allow the public – though not the press – the opportunity to ask ...

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EDA approves loan program with TD Bank

The board had a relatively light agenda for its first meeting of 2013, following a busy 2012 that saw the agency provide $591 million in financing to 222 projects, creating some 4,600 jobs, according to initial estimates. In new business, the board approved the creation of the “TD Bank New Jersey Advantage Program,” in partnership ...

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Development backers cheer plan to overhaul incentives

A bill set to be introduced Monday would consolidate five incentive programs into two, according to a report this week in the Wall Street Journal. The Economic Redevelopment and Growth Grant would be kept and modified, while the Grow New Jersey program would be revised to integrate pieces of the Urban Transit Hub tax credit, ...

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South Jersey office market ends 2012 on high note

The fourth-quarter analysis by Wolf Commercial Real Estate showed “a significant uptick” in new leasing and expansion, the firm said in a news release. The market of about 17 million square feet recorded some 235,000 square feet of new deals and expansions, and 389,000 square feet of leasing overall, a 25-percent jump from the previous ...

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