Monthly Archives: February 2009
Local fighters will be the key to success of Newark’s boxing renaissance
See Full Article This is a great piece. Newark has a history that is so rich and vibrant especially in sports. It is important that Newark recognize this and use this history to rebuild from. The history of sport in … Continue reading
Filed under Current Events
Bill giving developers a break on housing fee gets panel’s OK
“A fee assessed on the state’s commercial and industrial developers to fund affordable housing would be suspended until mid-2010 under a bill released yesterday by a Senate committee.” See Full Article Here Punishing developers for developing does only one thing… … Continue reading
Filed under Uncategorized
Commercial Property Owners Appealing Assessments
Commercial property owners throughout the state are appealing their tax assessments. Any good commercial property owner should be doing this every year anyway since certioraris work on a contingency basis. As for the repercussions to the townships tax rolls, … Continue reading
Filed under Current Events, Government, Real Estate Market
IDT moves out of 520 Broad Street building
This is really no surprise. Anyone who has a pulse knows that there are plenty of corporations in trouble and IDT is one of them. In February of 2007 the companies stock was trading at almost $12, February 2008 it … Continue reading
Filed under Current Events
City OK’s Two Center Street
See the Full Article Here “While Dranoff acknowledges the realities of the current economic climate, he tells GlobeSt.com, “we have been through economic cycles before and are confident that this, too, shall pass. When it does, we will be ready … Continue reading
Filed under Development, Uncategorized
New retail tenants downtown
Yes the market is slow, investors can barely get financing on AAA in place tenants. Vacancies are worthless in a shaky retail environment. However in the past 2 months Downtown Newark has seen 5 vacancies tenanted. The first I … Continue reading
Filed under Real Estate Market
Obama Plan Doesn’t Help Renters
From MHN Online: “President Obama’s newly unveiled $75 billion Housing Affordability and Stability Plan, which is aimed at avoiding foreclosures, may be the much needed relief for many individuals on the brink of losing their homes. While it was praised … Continue reading
Filed under Uncategorized
Is TALF the silver bullet for Commercial Real Estate?
The Term Asset-Backed Securities Loan Facility or TALF is something everyone in Commercial Real Estate is Holding their breath for. The hope is that TALF will free up the frozen credit markets and make money available once again for financing … Continue reading
Filed under Finance
The press needs to let up already!!!
I came across this article on a CBS News site. It is eblematic of how the press is a pack of lemmings blindly folloing a story over a cliff. Not only can the press not back away from sensationalizing this … Continue reading
Filed under Uncategorized
More Bad News for Bruce…
Ratner, not Springsteen, that is. “Brooklyn’s flagging Atlantic Yards project took another hit yesterday when Metropolitan Transportation Authority honchos confirmed the agency won’t dish out any of its allocated federal stimulus funds to aid developer Bruce Ratner. “ The New … Continue reading
Filed under Current Events
Shovels in the Ground; What’s Next?
Interesting article from the current issue of Spotlight , from the RPA see full article “The bottom line is that a visionary transportation bill is likely to run through some pretty big, purple, rural states. Bringing together the senators from … Continue reading
Filed under Development
Two Center Street Project Among Top Priorities on City of Newark’s Economic Development Scorecard
This administration has been nothing if not welcoming to business and development. Corey Booker made that clear in his state of the city address. This press release reinforces that See Article Here. However, I have to wonder why they chose these … Continue reading
Filed under Development
Residential Development Moving Forward
Development has ground to a halt. There is no construction lending. there are no developers willing to take on the risks. Except in Newark… See Full Article Richardson Lofts which is being build near the southern end of Newark Penn … Continue reading
Filed under Development
Has anyone thought of why the drug trade is so strong in Newark?
“It is the primary source of violent crime in the city, authorities agree, and it thrives for a few simple reasons: Heroin in Newark is cheaper, purer and more plentiful than it is elsewhere, and the city’s location at the … Continue reading
Filed under Current Events
Want Green Jobs? Build tall buildings & dense communities
Most people when they think ‘green’ or environmentally friendly don’t think dense urbanity or inner city, but, they should… This recent article from City Journal studies the difference in environmental impact of city dwelling vs suburban dwelling. The conclusions are eye … Continue reading
Filed under Development
Corey Booker’s State of the City Speech
It is a pretty long speech but you have to come away liking the guy. I liked him before the speech and feel he is the best thing to happen to Newark since the Robert Treat. See it here
Filed under Government
Is it time to start painting the bedroom?
Newark is one of the few places where hope still has a life and one of the biggest hopes for the city is that the New Jersey Nets will come to the Prudential Center instead of going to Brooklyn. There … Continue reading
Filed under Current Events, Uncategorized
Booker says all options are on the table… How about repealing rent control?
In Corey Booker’s now infamous State of the city speech, the mayor spoke about financial shortfalls that the city is facing. “The city also faces critical financial shortfalls, and to fill them Booker said all options are on the … Continue reading
Filed under Government, Multifamily
A builder who added luster to Newark feels like an outsider again
After investing $250 million to bring two Newark landmark buildings back to life, and buying up acres of property to redevelop, Stern has found himself on the outside looking in when it comes to new plans for the downtown. The guy who took the first major risk has fallen out of favor. Continue reading
Filed under Development
It’s a PR Thing
If you haven’t heard yet Spike TV’s show DEA is coming to Newark. The shows second season takes place in and around Newark NJ and if you can’t gather from the title of the show, it follows DEA agents with … Continue reading
Filed under Current Events
Court Denies EnCap Golf Ch. 11 Motion
A controversial plan to build a massive mixed-use project on 800 acres of reclaimed landfills in the Meadowlands took another turn earlier this week when a US Bankruptcy Court judge dismissed a Chapter 11 reorganization motion filed by EnCap Golf … Continue reading
Filed under Development, Government, Uncategorized
