realestate

North Jersey's growth surge set to persist through 2025: Key developments ahead

North Jersey's development boom continues unabated, driven by shift to remote work.

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orth Jersey's development boom shows no signs of slowing down. As more people work from home, areas are being redeveloped to meet changing economic needs. The rise of online shopping is also driving the construction of warehouses across the region. In some cases, this development has revitalized blighted neighborhoods, while in others it has replaced beloved landmarks.In 2025, several projects are expected to break ground or make progress in Hackensack's downtown area. A 210-unit development at Green Street will replace a former recycling center, and the final phase of the Print House development on River Street will continue construction. Other projects include a 110-unit building on Main St. and two affordable housing developments on Essex Street and Railroad Place.A $20 million project in Pompton Lakes will bring affordable housing to seniors and veterans by 2025. The Passaic County Affordable Housing Corporation has approved the construction of a four-story project with 65 one-bedroom units, prioritizing local residents and military members. Christian Health Center will oversee the center once it's built.In Wayne, a new housing project is set to be completed over the summer at the site of the former Valley National Bank headquarters. AvalonBay Communities Inc. is building 473 apartments and townhouses, including 71 low-income units.The first phase of a massive redevelopment project in Paramus' Garden State Plaza is scheduled to begin in early 2025. The plan includes two five-story mixed-use buildings with 575 housing units, as well as retail space and a town green. Warehouses are also proliferating across the region, driven by online shopping demand. Construction is underway on several large distribution centers, including one along Route 80 in Mount Olive and another in Parsippany.

North Jersey development boom continues with new projects through 2025 in NJ.