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Among the changes to the $30 million in grant funding include making some funding available to potential cannabis dispensaries and related companies that are considering locations in qualified South and West side investment areas.
"There is zero incentive for NY multifamily investors to purchase a building and spend money on renovations if they can't raise rents in these rent-controlled environments."
The chosen developer will design, build, and maintain a sustainable, mixed-use development consistent with DRWC guidelines. Teams are invited to respond to the RFP to develop one or both sites by Feb. 7, 2020.
The MOU between NJ TRANSIT and the Middlesex County Improvement Authority will provide for the design and construction of a train station at the North Brunswick Transit Village along the Northeast Corridor.
CBRE SVP Gambuzza says the brokerage firm received more than 10 offers. The New York-based buyer's investment was its first multifamily acquisition in New Jersey.