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Real Estate

Lesniak says Christie veto misses mission of foreclosure transformation bill

But state Sen. Raymond J. Lesniak (D-Union), who shepherded the Senate version of the Residential Foreclosure Transformation Act through to the governor’s desk, said Christie’s suggestions don’t touch on the purpose of the bill.“It’s obvious the governor does not want to deal with the foreclosure problem that in New Jersey is dragging down our economic ...

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Power 100 list stats

I guess it’s the former accountant in me, but it’s always fun to crunch some numbers about the NJBIZ Power 100 list. As always, I’d like to note Managing Editor Joe St. Arney and I don’t have any quotas when we create these power lists, and we don’t aim to hit any benchmarks such as a certain turnover rate. Here ...

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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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