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Redevelopment Key for State Approaching Build-Out

'We have to figure out this state holistically, and smart growth is the key,' said Ted Zangari at a recent IOREBA event.

By Alyson Grala | Updated on November 02, 2010

NEWARK-New Jersey is running out of land on which to build new commercial real estate projects, but the state still must find a way to grow its economy, particularly in the face of current economic conditions. Some of the roadblocks and ultimately the solutions for accomplishing growth provided the focus of discussion at the third-annual Urban Developer’s Night, hosted by the Industrial and Office Real Estate Brokers Association of the New York Metropolitan Area at the Robert Treat Hotel here.

“New Jersey will truly be the first state in the nation to reach full build-out,” said Ted Zangari, a member of the law firm Sills Cummis & Gross. The answer, he adds, is redevelopment, particularly in New Jersey’s cities, and the challenge is to pave the way by creating a development-friendly but sensible regulatory climate. That process began three years ago with formation of the Smart Growth Economic Development Coalition, of which Zangari is the founder. IOREBA is one of 28 business and trade associations that make up the Smart Growth Coalition.

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