By now, you have likely heard that on March 10, the New Jersey Supreme Court took drastic action in returning enforcement of Mount Laurel and Council on Affordable Housing (COAH) matters to the courts based on COAH's failure to promulgate new third-round regulations as required by the Supreme Court's order last year. Below is an outline of and commentary on the new procedure established by the Supreme Court for the lower courts to handle municipal compliance with affordable housing obligations.
As a developer or investor in a project, what does that mean for you? Several months ago while the COAH litigation was pending and proposed regulations were being discussed, we sent an alert to developers and clients advising that then was the time to start strategizing on how to be best positioned when the dust starts to settle on the COAH litigation. As a result, some clients are in the ideal position of having rezoning requests pending at this very moment for projects that provide affordable housing, and it will now be hard for a town to turn the project down in light of the procedure and timing outlined by the Supreme Court in its March 10 decision.
There is still an opportunity for developers and investors to act now for both short- and long-term strategies for potential projects. The strategies and goals will be dependent on several factors including the type of development, which town the development would be located in and, obviously, risk tolerance.
Summary and Comments on Supreme Court Procedure for Affordable Housing Compliance
Should you have any questions on what this all means for you as a developer or investor and/or need assistance developing a strategy on how best to approach your particular situation, please feel free to contact Craig Gianetti.
On June 6, Von Sanborn will serve as the moderator at an Opportunity Zones program presented by the National Association of Corporate Directors (NACD) Connecticut Chapter and held at the Shore & Country Club in Norwalk, CT.
Day Pitney Advisory
Day Pitney Alert
On April 3, partners Craig Gianetti and Kate Coffey will be speaking at the 70th Annual Atlantic Builders Convention (ABC), presented by the New Jersey Builders Association (NJBA) and held in Atlantic City, NJ.
On March 20, Craig Gianetti, a partner in Day Pitney's Real Estate & Land Use group and secretary of the New Jersey State Bar Association (NJSBA) Land Use Section, will be moderating and speaking at the 2019 Land Use Update, a program presented by the New Jersey Institute for Continuing Legal Education (NJICLE) and being held at the New Jersey Law Center in New Brunswick, NJ.
Craig Gianetti, a partner in Day Pitney's Real Estate & Land Use group, has been elected to serve as Vice Chair of the Land Use Law Section of the New Jersey State Bar Association (NJBSA).
Peter Wolfson was mentioned in an article, "Over-Capacity Crowd for Madison Historic Preservation Commission's Hearing on Proposed Movie Theater Redevelopment," published by Tapinto.net.
Kate Coffey was mentioned in an article, "Planning Board Grants Preliminary Approval for Assisted Living Facility," published by centraljersey.com.
Day Pitney Press Release
Day Pitney Press Release