Newjersey RealEstateRama

TRENTON, NJ  – April 15, 2015 – (RealEstateRama) — The Board of the New Jersey Economic Development Authority (EDA) today took action on several projects...

Department of Banking and Insurance Commissioner Ken Kobylowski today alerted consumers buying or renewing homeowners insurance that they will receive a one-page summary of their policy that clearly explains its terms, coverages and exclusions, starting in June.

First Lady Mary Pat Christie today announced over $120,000 in New Jersey Heroes grants to eighteen organizations previously selected as New Jersey Heroes. The grants, which must be used within twelve months from the date of the award, will help the recipients to further enhance the mission of their respective organizations through new programs and services

U.S. Senators Robert Menendez and Cory Booker today announced the awarding of a $1,140,923.87 Sandy relief grant through the Federal Emergency Management Agency (FEMA) for the Middlesex County Utilities Authority. This grant will help repair the Sayreville Sewerage Pump station, which sustained substantial damage from Sandy, in order to prevent waste from entering the river

U.S. Senators Bob Menendez and Cory Booker (both D-N.J.) today announced $744,095 in federal grants from the U.S. Department of Housing and Urban Development's (HUD) Housing Counseling Program to 11 agencies throughout New Jersey.

Congressman Frank Pallone, Jr. (D-NJ) today announced two grants through the U.S. Department of Housing and Urban Development (HUD) Housing Counseling Program to help provide individuals and families with advice and information on housing issues. The goal is to improve financial literacy, expand homeownership opportunities, prevent foreclosure, and improve access to affordable housing. Through this program, the Housing Authority of the City of Perth Amboy has been awarded a $13,071 grant, and the Puerto Rican Association for Human Development in Perth Amboy has been awarded a $12,323 grant

The investment brokerage firm Gebroe-Hammer Associates recently arranged the $11.2 million sale of 80 units at Shore Hill Apartments in Mount Arlington, N.J., located in western Morris County. The brokerage team of Stephen Tragash, senior vice president, and Joseph Brecher, managing director, exclusively represented the seller, the original developer who owned the property for approximately 40 years, and procured the buyer

Following the announcement that the Appellate Division of the New Jersey Superior Court has ruled the attempt to use the municipal housing trust funds in the State’s General Fund unlawful. The funds that have been protected from seizure will be available for their intended purpose, to help build homes for lower-income families, people with disabilities, and seniors on a fixed income. Housing and Community Development Network of New Jersey (the Network) Vice President and Chief Operating Officer Sharon Barker issued the following statement

Assemblywoman Mary Pat Angelini is being honored by the New Jersey Association of Mental Health and Addiction Agencies (NJAMHAA) for her strong leadership in helping prevent and treat substance use and mental disorders in youth and adults throughout New Jersey. NJAMHAA will present Angelini with the “State Legislative Champion for Improving Treatment Award” on April 15, 2015 at its Compassion Awards Reception in Woodbridge, NJ.

The Morris County Freeholders, for the third consecutive year, have adopted a budget with a zero percent increase in county taxes, while maintaining critical services for county residents.

The unanimous NJ Supreme Court decision regarding the Council on Affordable Housing, has left the non-profit community, special needs and other housing developers wondering what the ruling means for our work and what the next steps might be.

The New Jersey Division of Consumer Affairs today announced that, during the first quarter of 2015, it has issued Notices of Violation to 31 contractors, seeking $397,776.60 in consumer restitution and civil penalties. “The arrival of Spring signals the traditional start of New Jersey’s home improvement season and we are urging consumers to thoroughly review potential contractors before hiring someone to do work on their homes,” Acting Attorney General John J. Hoffman said.

In the spirit of the Easter season, Lt. Governor Kim Guadagno and her son today joined Assemblywoman Donna Simon and the Samaritan Homeless Interim Program (SHIP) to serve Easter meals to individuals and families in need in Somerset County.

The Morris County Improvement Authority (MCIA) has voted unanimously to accept the resignations of its longtime counsel, Stephen Pearlman, and energy consultant Gabel Associates, who both officially notified the Authority tonight that they will resign effective June 1.

With most of the families in the Reconstruction, Rehabilitation, Elevation, and Mitigation (RREM) Program now in the construction phase, the Christie Administration today announced the State’s Housing Recovery Centers will consolidate in an effort to better meet the ongoing construction needs of participants in the RREM Program and the State’s other housing recovery programs.

The New Jersey Housing and Mortgage Finance Agency (NJHMFA) today announced that it has received $1.4 million to support New Jersey’s foreclosure prevention counseling efforts through the National Foreclosure Mitigation Counseling Program (NFMC). The much-needed funding will enable NJHMFA and its housing counseling partners to provide more foreclosure counseling to area homeowners in danger of foreclosure.

In its continued effort to meet and assist Sandy-impacted families right in their home communities, the Christie Administration today announced that the 14th Information Session will be held Monday, April 6th, in Sayreville, Middlesex County, to provide personal assistance for storm-affected homeowners participating in the Reconstruction, Rehabilitation, Elevation and Mitigation (RREM) Program

-In the Plainfield/Union County, N.J., multi-family market, rent growth and occupancy rates are at their strongest levels in years, according to the brokerage professionals at Gebroe-Hammer Associates, which recently arranged two trades involving a total of 60 units. Gehane Triarsi, area market specialist, reports both buyers plan to render the properties more competitive in a city that had its highest-ever recorded population increase between the 2000 and 2010 census period

Policy experts, non-profit developers and municipal leaders presented testimony today to members of the Assembly Housing and Community Development Committee on efforts to revitalize vacant and abandoned properties. Testifiers offered insight on the positive effects the Abandon Properties Rehabilitation Act (APRA) has had on transforming NJ communities and offered feedback to legislators on areas for improvement

DeNeal’s Café & Grill at 40 and 50 Union Avenue Medical/Professional Office Campus recently marked its grand opening on the ground floor of the eight-story, 52,000-square-foot 50 Union Ave., office tower. The café, which is just steps from the adjacent four-story, 20,000-square-foot 40 Union Ave. building, is operated by Alesia Williams, a 17-year food service industry veteran.