Through June, New Jersey municipalities issued permits for multifamily projects that call for more than 3,400 new units, up 55 percent from the same period last year.
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Real Estate
Newark welcomes first downtown hotel in nearly 40 years
Developer says he’s undeterred by NHL lockout, and is already seeing strong demand thanks to proximity to airport and train station.
Read More »Christie signs Permit Extension Act, vetoes bill seeking fracking ban
Both issues were hotly contested by industry and environmentalists, who clashed over the potential for development in protected areas and the potential consequence of hydraulic fracturing.
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Mixed message from real estate as uneven recovery continues
While the multifamily market remains hot and industrial holds its own, the ongoing poor performance of the job market is wrecking havoc in New Jersey’s office market.
Read More »Big jump in home sales reason for optimism, expert says
The number of so-called purchase contracts jumped 24 percent in July over the same period last year, with monthly sales figures increasing each month since October.
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Women, minorities to benefit under construction training program
A construction program aims to provide training for about 40 women and minority residents of Newark.
Read More »Sports authority court battle may have broad implications
A federal appeals court ruling sides against a 12-year-old case involving the New Jersey Sports & Exposition Authority and a plan to renovate Atlantic City’s historic Boardwalk Hall.
Read More »Housing data give reason for optimism
Industry watcher says residential real estate has gone from the caboose of the economic recovery train to the engine.
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Dunellen development plan gets transit village designation
Development expert notes builders are keen to work in such areas, which have been wild successes in municipalities like Morristown and Rutherford.
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Metropark still a tough sale for landlords
Low asking rents are preventing new development in the market as experts question how effectively the region can compete with the Hudson waterfront without a boom in employment.
Read More »Court blocks Christie from seizing affordable housing fees, but towns no closer to starting projects
“As much as I want to say I see a bright light coming, I think this thing could become a legal morass of unprecedented proportions,” says an executive with the League of Municipalities.
Read More »Bill to speed foreclosures of abandoned properties advances
A bill that could cut the time it takes to foreclose on an abandoned property by more than a year advanced out of a state Senate committee today.
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