Successfully Navigating Troubled Real Estate Waters in Novel Times

Successfully Navigating Troubled Real Estate Waters in Novel Times

The novel coronavirus is leaving its mark on all aspects of our lives, and the real estate industry is certainly no exception. Whether you’re in the initial planning stages of a mixed-use redevelopment, the mid-point of a lease term, or the final stages of a construction project, the challenges presented by our current environment can make you feel like you’re at the end of your rope. No need. While some of today’s issues are indeed novel, many can be viewed as a 2020 version of past issues that we have helped clients to not only weather successfully but also used as a springboard to advance projects forward as those troubled waters receded. The Gibbons Real Property Department relies on its transactional, development, redevelopment, and financing attorneys to bring a comprehensive and seamless approach to advancing the interests of our clients. To give some idea as to the breadth of experience we bring to help us identify current issues and strategies, some of the industry areas where we regularly practice include: Public/private infrastructure projects (P3s) Commercial leasing, conveyancing, and financing Redevelopment projects, including PILOT applications, redevelopment, and financial agreements and RAB bonds Mixed-use retail/multi-family residential, including affordable housing Healthcare facilities, including...

Non-Residential Development Fees – How Much Do I Pay and When?

Non-Residential Development Fees – How Much Do I Pay and When?

The Statewide Non-Residential Development Fee Act (the “Act”) has been in full effect for the past three years. Yet, there remains confusion as to how the fee is calculated and when it is required to be paid. There shouldn’t be. Before the Act, both residential and non-residential development fees were governed by the Council on Affordable Housing’s (“COAH”) regulations, and municipalities adopted a form ordinance provided by COAH. COAH’s regulations, for instance, permitted all development fees to be collected with up to 50% due at the issuance of a building permit and 50% due at the issuance of a certificate of occupancy. The same regulations permitted municipalities to collect the full fee at the issuance of a certificate of occupancy. The current Act makes it crystal clear that “the payment of non-residential development fees … shall be made prior to the issuance of a certificate of occupancy for each development.” The Act also lays out a process for preliminary and final assessments of fees, including a notice required upon issuance of a construction permit to the tax assessor to conduct an initial evaluation of the fee. Thus, any requirement for the payment of a development fee as a condition of...

Join Us at the ICSC New York Deal Making Conference – December 11 & 12

Join Us at the ICSC New York Deal Making Conference – December 11 & 12

The Gibbons Real Property Department will once again exhibit at the upcoming International Council of Shopping Centers (ICSC) New York Deal Making Conference at the Jacob K. Javits Convention Center on December 11-12. Stop by our booth, #2411, to meet some of the Department’s attorneys who will be in attendance (Click here to view our booth location marked as the red circle). Deal Making hours are Wednesday, December 11, from 8:00 am to 5:00 pm, and Thursday, December 12, from 8:00 am to 3:00 pm. We look forward to seeing you there!

Gibbons to Exhibit at Upcoming ICSC PA/NJ/DE Conference & Deal Making

Gibbons to Exhibit at Upcoming ICSC PA/NJ/DE Conference & Deal Making

The Gibbons Real Property Department will once again exhibit at the International Council of Shopping Centers (ICSC) PA/NJ/DE Conference & Deal Making at the Pennsylvania Convention Center on September 12. Stop by our booth, #319, and meet with some of the Department’s attorneys who will be attending. Deal Making hours are Thursday, September 12, from 8:30 am to 4:00 pm. The Conference provides an opportunity for real estate professionals (shopping center owners, developers, managers, marketing specialists, investors, lenders, retailers, etc.) to network and focus on getting deals done. We look forward to seeing you there!

Update: U.S. Treasury Approves New Jersey’s Opportunity Zones

Update: U.S. Treasury Approves New Jersey’s Opportunity Zones

This article was originally posted on the Gibbons Government & Regulatory Affairs Alert, maintained by the firm’s Government & Regulatory Affairs Department. Attorneys in the Real Property Department work closely with our government and regulatory affairs attorneys in connection with this and similar legislation, grants, funding, and other economic development and redevelopment opportunities.

COAH Fees – Some Certainty in an Uncertain World 0

COAH Fees – Some Certainty in an Uncertain World

While much of the uncertainty regarding affordable housing requirements in NJ remains, the questions involving the applicability and future of the 2.5% nonresidential development fee were answered yesterday. Acting Governor Kim Guadagno signed into law legislation that reestablishes the exemption from the fee for eligible projects. Perhaps the most broadly applicable exemption provides that projects which obtain preliminary or final site plan approval prior to July 1, 2013 are not subject to the development fee provided that building permits are issued by December 31, 2015.

New Jersey Time of Decision Rule – The End Nears 0

New Jersey Time of Decision Rule – The End Nears

New Jersey case law has consistently held that new or modified development ordinance provisions apply to pending land use applications, even if the proposed zoning was specifically introduced to thwart a pending application. This has historically been known as the “time of decision” rule. On May 5, 2011, the time of decision rule will run out of time.

Solar Energy Development in New Jersey: Right Time, Right Place! 0

Solar Energy Development in New Jersey: Right Time, Right Place!

All of us are intrigued by the concept of utilizing a clean, renewable energy source to generate abundant and cheap power for our homes and businesses. Some of us have even investigated installing a renewable energy system, but have come away disappointed due to onerous regulatory obstacles and the high cost associated with these installations. That is, unless you are looking into installing a solar energy power facility in New Jersey.