Yearly Archives: 2013

WASHINGTON, D.C. - December 27, 2013 - (RealEstateRama) -- Mayor Mark A. Smith announced that The Home Depot Foundation has awarded the Bayonne Economic Opportunity Foundation (BEOF) a $5,000 grant to help economically disadvantaged veterans in Bayonne. The grant will be used to purchase goods and equipment needed for small home repairs for Bayonne veterans over the age of 60. Mayor Smith said, “This grant is great news for Bayonne’s veterans. Several residents who served our country will be able to fix up their homes, thanks to this grant. I would like to thank The Home Depot Foundation for its generosity to the veterans of our community. I would also like to thank BEOF Executive Director Ana Quintela and Millennium Strategies, Bayonne’s grant consultants, for their successful efforts at obtaining this funding.”

Trenton, NJ - December 23, 2013 - (RealEstateRama) -- New Jersey Department of Community Affairs (DCA) Commissioner Richard E. Constable, III today joined New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony L. Marchetta in announcing the commitment of approximately $7.2 million in Community Development Block Grant (CDBG) Disaster Recovery funding to two public housing authority developments in Jersey City, Hudson County. The funding will provide the construction and permanent financing needed for the rehabilitation of 319 affordable rental housing units for families and 48 affordable rental housing units for seniors

New York, N.Y. - December 23, 2013 - (RealEstateRama) -- The U.S. Environmental Protection Agency has completed the removal of lead-contaminated soil from the grounds of the Millard E. Terrell Homes public housing complex in Newark, New Jersey. In December 2012, high levels of lead were found in soil samples collected by the EPA at a playground area within the housing complex. The lead is likely to have come from old industrial facilities that once operated in the area. The EPA has worked over the past year to reduce the potential for people, especially children, to be exposed to soil with high levels of lead.

Edison, N.J. - December 20, 2013 - (RealEstateRama) -- The November housing market report from the New Jersey Association of Realtors shows that the market is continuing to steadily recover. The market showed a modest 1.9 percent increase in both the median sales price as well as closed sales over November 2012, while continuing to show a decrease in the days on market and total inventory.

WASHINGTON, D.C. - December 20, 2013 - (RealEstateRama) -- Assembly Republican Whip Scott Rumana sponsored a resolution urging Congress to protect local families from skyrocketing insurance increases.

WASHINGTON, D.C. - December 20, 2013 - (RealEstateRama) -- Bipartisan legislation sponsored by Assembly Republican BettyLou DeCroce, R-Morris, Essex and Passaic, that extends the moratorium on the imposition of fees on non-residential construction projects through December 31, 2014 was approved by the General Assembly today. The moratorium had expired on July 1, 2013.

TRENTON - December 20, 2013 - (RealEstateRama) -- Acting Attorney General John J. Hoffman announced today that New Jersey has joined a $2.1 billion, multi-state and federal settlement with Atlanta-based Ocwen Financial Corporation and its subsidiary, Ocwen Loan Servicing, that resolves allegations the companies engaged in mortgage servicing misconduct.

TRENTON - December 18, 2013 - (RealEstateRama) -- Acting Attorney General John J. Hoffman and Division of Law Director Christopher S. Porrino announced today that the State has filed a lawsuit against Credit Suisse Securities (USA) LLC and two of its affiliates alleging that they offered more than $10 billion in residential mortgage backed securities trusts for sale while misrepresenting the risks involved in the investments, and failing to disclose to investors information about significant defects in the offerings.

NEWARK - December 17, 2013 - (RealEstateRama) -- Homeowners whose roofs, chimneys and gutters were intentionally damaged by representatives of home improvement contractors during inspections or repairs have received a total of $137,733.84 in restitution, under terms of an August settlement that resolved a lawsuit brought by the Office of the Attorney General and Division of Consumer Affairs on behalf of the consumers

GARWOOD, NJ - December 16, 2013 - (RealEstateRama) -- New Jersey Department of Community Affairs (DCA) Commissioner Richard E. Constable, III, and New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony L. Marchetta recently announced the groundbreaking of Westfield Senior Housing, a 72-unit affordable rental development in the Borough of Garwood, Union County, for seniors age 62 and older. The HMFA, an affiliate to DCA, has awarded the project federal Low Income Housing Tax Credits, which is estimated to generate more than $5.5 million in private equity, and will provide $11.1 million in construction financing.

Toms River, NJ - December 16, 2013 - (RealEstateRama) -- As part of the Christie Administration’s third annual “Season of Service,” New Jersey Department of Community Affairs (DCA) Commissioner Richard E. Constable, III spent half a day painting the inside of a Sandy-impacted resident’s home in Toms River, Ocean County. The home restoration volunteer project was organized through Jersey Cares, a Newark-based nonprofit organization committed to increasing civic engagement in New Jersey by coordinating volunteer opportunities to address community needs.

HADDON HEIGHTS, N.J. - December 13, 2013 - (RealEstateRama) -- Last Friday, Congressman Andrews announced that the Revere Run housing complex in Gloucester Township, a project that created over 375 construction, engineering, and architectural jobs, is now open and accepting tenants. With the assistance and support of Congressman Andrews, the project was able to secure over $15.6 million in federal affordable housing tax credits and Community Development Block Grants, which were critically needed to help finance the development.

WASHINGTON, D.C. - December 13, 2013 - (RealEstateRama) -- Bipartisan legislation sponsored by Assembly Republican BettyLou DeCroce, R-Morris, Essex and Passaic, that extends the moratorium on the imposition of fees on non-residential construction projects through December 31, 2014 was approved by the Assembly Appropriations Committee today. The moratorium had expired on July 1, 2013

WASHINGTON, D.C. - December 13, 2013 - (RealEstateRama) -- Assembly Republican Chris A. Brown today voted to support a resolution urging Congress to protect local families from skyrocketing insurance increases.

WASHINGTON, D.C. - December 13, 2013 - (RealEstateRama) -- A resolution sponsored by Assemblywoman Alison Littell McHose urging New Jersey citizens to “Buy American” products moved out of the Assembly Commerce and Economic Development Committee.

WASHINGTON, D.C. - December 12, 2013 - (RealEstateRama) -- “This year, for the first time in 15 years, Morris County taxes did not increase,” said Freeholder Hank Lyon, budget committee chairman who presented the proposal. “Stopping the rise in property taxes is the number one issue I hear from Morris County residents, and after delivering a zero in 2013, we should deliver another zero in 2014.”

Newark, NJ - December 11, 2013 - (RealEstateRama) -- Mayor Luis A. Quintana, members of the Newark Municipal Council, Housing and Real Estate Division Director Mike Meyer, Urban League of Essex County President and CEO Vivian Cox Fraser, Fairmount Neighborhood Association President Dorian Johnson, and other dignitaries will host a “housewarming party” and Open House at the newly-rehabilitated Littleton Homes at Fairmount, four completely rehabilitated single family homes, on

TRENTON - December 11, 2013 - (RealEstateRama) -- The New Jersey Department of Community Affairs (DCA) today announced the awards of more than $6 million in Small Cities Block Grants to municipalities in New Jersey. The 19 grants will benefit 16 municipalities in 6 counties, 2 county-wide programs and approximately 25,000 people across the state, including senior citizens and persons with disabilities. Awards in this year’s grant round will go towards funding projects ranging from making access ramps at beaches and parks ADA compliant, street reconstruction, and rehabilitating affordable housing, many which were damaged by Superstorm Sandy.

WASHINGTON, D.C. - December 11, 2013 - (RealEstateRama) -- On Wednesday, December 4, the City of Bayonne hosted a redevelopment seminar to introduce the development community to redevelopment opportunities at The Peninsula at Bayonne Harbor. More than 75 individuals representing development firms, construction and building contractors and the real estate industry participated in the event. Presentations were made by Joseph Baumann, Esq. of McManimon, Scotland and Baumann, the City’s Special Redevelopment Counsel and Andrew Raichle, P.E. of Matrix New World Engineering, the City’s Engineering Consultant

LIVINGSTON, N.J. - December 11, 2013 - (RealEstateRama) -- Gebroe-Hammer Associates has arranged the sale of twoNorthern New Jersey apartment properties for a combined total of nearly $8 million, reports Ken Uranowitz, president of the firm. The two separate transactions total 49 units in Caldwell and Montclair, and both properties were sold by long-term owners.