The New Jersey Builders Association and a group of the state’s multifamily developers announced to NJBIZ this afternoon the formation of a new affiliate, the Mixed-Use Developers Association.
The association will initially consist of executives from nine New Jersey multifamily developers, including AvalonBay Communities Inc., Hoboken Brownstone Co., Ironstate Development Co., D.L. Paragano Homes, Roseland Property Co. and Woodmont Properties — many of which are also members of the NJBA.
Future members will come from the real estate industry, including other developers, attorneys and architects, the group said. Existing NJBA members will pay an additional fee to be part of the affiliate.
George Vallone, president of Hoboken Brownstone, will chair the association, while Timothy Touhey, CEO of the NJBA, also will serve as CEO of the group.
Most of the building permits issued in the state are for multifamily development, Vallone said: “There’s a need for our sector to be heard.”
The group, which will advocate for legislative and regulatory issues on behalf of multifamily developers, aims to promote the production of more rental units, particularly in New Jersey’s suburban areas.
The affiliate will focus on five priorities in the coming year: code issues, the need for another permit extension bill, water quality management issues, Council on Affordable Housing regulations and the state plan.
The Mixed-Use Developers Association officially will be announced at the groundbreaking of AvalonBay’s new Avalon North Bergen apartment community in the Hudson County township Wednesday morning.
Read more for more info and read the in-depth story appearing in the June 20 edition of NJBIZ.