SUMMIT, NJ—Wood Partners has opened an office in Summit, NJ, where the firm's newly named vice president of development, Peter B. Lijoi, an attorney and 32-year Summit resident, is spearheading the firm's efforts to acquire sites permitting the construction of multifamily housing ranging from 150 to more than 500 homes.
Throughout his career, Lijoi has worked with national public and private homebuilders as well as state and local governments. He is a member of the New Jersey and New York Bar and is on the Union County Board of Taxation. Before joining Wood Partners, Lijoi worked with the New Jersey Urban Enterprise Zone Authority and Fairfield Residential Co.
“Wood Partners is a top-flight national housing developer, and this is an excellent opportunity for me to help the firm expand into the New Jersey metro market,” says Lijoi.
According to Lijoi, the goal of Wood Partners' New Jersey office is to develop a pipeline of residential multifamily communities, including garden apartments, urban projects and high-quality transit-oriented housing communities. Wood Partners is currently working on high-rise and midrise opportunities along the Hudson River waterfront and transit-oriented developments in northern New Jersey counties.
Northern New Jersey (including Hudson, Morris, Essex, Union and Bergen counties) is a high barrier-to-entry market, with limited new inventory for apartment developers, says Lijoi. This is why new apartment communities, located along transit routes that serve New York City and strong employment centers such as Morris County, command competitive rents and strong value propositions.
“New Jersey's regional position in the New York Metropolitan Area and regional economics make it a critical apartment market for Wood Partners,” says Rick Dickason, director of Wood Partners' Northeast region. “Skyrocketing land prices and rent growth in Manhattan make the Hudson River waterfront a desirable alternative.”
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
