TRENTON, NJ—The Council for Affordable Housing failed to pass new affordable housing recommendations on Monday, which could put the council in danger of violating a court order to enact the new regulations.

HACKENSACK, NJ—The Saks Fifth Avenue department store at the Shops at Riverside shopping center here will shut its doors at the end of this year.

ARMONK, NY—Locally-based IBM Corp. announced on Monday it will pay Santa Clara, CA-based Globalfoundries $1.5 billion for its global semiconductor technology business. The deal also involves Globalfoundries' takeover of chip-fab manufacturing plants in East Fishkill, NY and Essex Junction, VT.

COOPER CITY, FL—The Shoppes of Cooper City retail center here has changed hands in a $7.2-million deal.

CHARLOTTE, NC—San-Francisco-based Ecoplexus, Inc. reports it has closed on the financing and has begun construction on three solar photovoltaic projects in the state of North Carolina.

NEW YORK CITY—The mixed-use 1110-112 Greenwich St. building in Lower Manhattan has traded for $52.9 million, according to brokers involved in the deal.

NEWARK, NJ—A project to redevelop a former psychiatric facility in the Fairmont Heights section of the city appears poised to break ground sometime in 2015.

ATLANTIC CITY, NJ—Union workers at the troubled Trump Taj Mahal learned on Friday that their contract with the casino-hotel was thrown out by a judge.