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Note to Suburbs: Make Way for Rental

EAST BRUNSWICK, NJ-Residential market analyst Jeffrey Otteau says multi-family development can be the key to new economic vitality in many New Jersey suburbs.

By Antoinette Martin | Updated on March 20, 2014

EAST BRUNSWICK, NJ−Homeownership in New Jersey has fallen by 10% since 2005.  About 65% of households do not currently include children under age 18. The need for more rental housing is critical to meet rising demand, says residential market analyst Jeffrey Otteau.

Yet, Otteau said at NAIOP‘s public policy symposium in New Brunswick earlier this month, the resistance to multifamily development remains staunch in many suburban towns and large-lot zoning for big homes still prevails.

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