realestate

Essex County Real Estate Update: Key Developments for 2024

Top stories of the year: Affordable housing, Essex-Hudson Greenway, plus updates on local businesses & infrastructure projects.

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SSEX COUNTY, NJ — Essex County was a hotbed of real estate activity in 2024, with developments on affordable housing, homelessness, movie theaters, malls, power plants, and the long-awaited Essex-Hudson Greenway. Here's a recap of some of the top stories from the year.

    Affordable Housing Remains a Challenge

    Nearly every town in Essex County has work to do when it comes to creating more affordable housing. Some towns are challenging New Jersey's new affordable housing law, while others are embracing the state's obligations.

    Property Taxes Continue to Rise

    Essex County homeowners pay some of the highest property taxes in New Jersey. The latest data shows that some towns are harder hit than others.

    Homelessness Surges Across Essex County

    The number of homeless individuals in Essex County increased significantly last year, according to a recent report. Here's a breakdown by town.

    New Developments and Projects

    * A proposed housing development near a forest in West Orange, Verona, and Essex Fells is back on the table.

    * A new power plant in Newark can move forward, despite years of opposition from critics.

    * A Target store will be built at the site of a former Kmart in an Essex County town.

    * The Essex County Mall is in disrepair, with some shoppers calling for condemnation.

    * Two malls in Livingston and Short Hills offer vastly different shopping experiences.

    * Plans to build a movie studio in North Jersey have taken a significant step forward.

    * A study found that thousands of NJ tenants face unjustified evictions every year.

    Other News

    * Montclair has chosen a developer for the Lackawanna Plaza project, which still faces multiple legal challenges.

    * Advocates are opposing plans for a Popeyes and Sonic drive-thru in West Orange.

    * Bloomfield is demolishing an old public works building that's been abandoned since the 1990s.

    * Caldwell officials have shared plans for a new borough hall and public library.

    * A $100M housing community broke ground in Irvington, which will include homeownership, affordable housing, retail, and a community center.

    * Plans for the Bellevue Theater in Essex County now include creating new retail storefronts and adding apartments.

    * A redevelopment plan was approved for a patch of properties in Belleville that includes a former filming location for "The Sopranos."

    * Verona will receive $1M to turn a vacant property into a public parking lot.

    * The Nutley housing market is booming, despite rising property taxes.

Essex County real estate update with developers at construction site in UK.