Day Pitney Represents Broad Hill Partners in Financing for City Hall Apartments Project in Newark, NJ

Publisher: Day Pitney Press Release

September 21, 2018

Firm Closes Three LIHTC Deals in Three Weeks

Day Pitney LLP represented Broad Hill Partners in connection with its financing for the construction of an affordable housing development known as City Hall Apartments, located in Newark, NJ.

The transaction was financed in part using 9% federal Low Income Housing Tax Credit (LIHTC) that will be used to construct an 84-unit mixed-income project, of which 55% of the apartments will be restricted for affordable housing, and approximately 9,000 square feet of commercial space. In addition to the LIHTC tax credit equity, the developer received private construction financing and a Freddie Mac Permanent DUS loan.

The Day Pitney team representing Broad Hill Partners was led by partner Craig Gianetti and associate Megan Bedell.

This transaction marked the third LIHTC deal closed by Day Pitney in as many weeks. At the end of August, Day Pitney, led by Gianetti, represented Omni America LLC in connection with its acquisition and financing of the Garden Spires and Spruce Spires public housing complexes in Newark, NJ, which included approximately $49 million in LIHTC, among other financing sources. The related press release can be viewed here.

Combined, the deals involved over 700 apartments and over $200 million dollars in financing.

April 22, 2019

Day Pitney Alert

70th Annual Atlantic Builders Convention

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.

April 3, 2019

New Jersey Builders Association, Atlantic City, NJ

NJICLE 2019 Land Use Update

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.

March 20, 2019

2019 Land Use Update, New Jersey Institute for Continuing Legal Education (NJICLE), New Jersey Law Center, New Brunswick, NJ

An Update on Redevelopment and Pilots

Winter 2019

Craig Gianetti and Nicole Magdziak co-authored an article, "An Update on Redevelopment and Pilots," published by Dimensions, a newsletter of the New Jersey Builders Association.

New Jersey Appellate Division Rules Public Notices in Land Use Cases Need Clear Description of All Uses Proposed

February 11, 2019

Day Pitney Alert

Over-Capacity Crowd for Madison Historic Preservation Commission's Hearing on Proposed Movie Theater Redevelopment

March 15, 2019

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.

Planning Board Grants Preliminary Approval for Assisted Living Facility

March 12, 2019

Kate Coffey was mentioned in an article, "Planning Board Grants Preliminary Approval for Assisted Living Facility," published by centraljersey.com.

Ultra-Rich Scout Direct Real Estate Investments

February 17, 2019

Jared Ross was quoted in an article, "Ultra-Rich Scout Direct Real Estate Investments," published by Banker & Tradesman.