JERSEY CITY, NJ – Some 350 business and civic leaders attended The 5th Annual New Jersey Real Estate Conference, produced by Schein Media and New Jersey & Company, magazine on June 9, 2011, and the message they took away was one of growing optimism. While recession-related problems remain and post-recession recovery is slow, market indicators are trending upward.
"We are moving out of the recession," said Jonathan Schein, president/CEO of ScheinMedia, noting the event's growth attendance-wise after the recession years.
"Confidence is up immeasurably from a year ago," said Michael Allen Seeve of Mountain Development Corp., on a "State of the Industry" panel. "Capital is accessible, tenants are making commitments, and towns are supportive."
Much of the discussion focused on New Jersey's urban centers. "Our city's renaissance of the last 25 years is nothing short of incredible," said Mayor Jerramiah T. Healy of the host city. "We have so many great assets to market," added Newark Mayor Cory Booker, who credited Mayor Healy as a mentor for his own approach to urban renewal.
As case in point, Carl J. Goldberg of Roseland Properties and Emanuel Stern of Hartz Mountain Industries noted the success of The Monaco, their joint-venture apartment community in Jersey City, where 270 of 523 apartments were leased in just four weeks. "That says a lot about the desirability of the residential market, and of Jersey City, and is emblematic of lifestyle changes," said Goldberg. "Our urban centers have been transformed into vibrant, desirable places to live."
Other diverse topics of discussion during the day's program were New Jersey's new business-friendly attitude, the impact of the price of oil on real estate and business in general, real estate investment trends, the importance of LEED certification, the impact of social networking on CRE, and more.
The 5th Annual New Jersey Real Estate Conference was held at The Atrium linking Plazas 2 and 3 of Mack-Cali Realty Corp.'s Harborside Financial Center on Jersey City's waterfront.
Read more: NYInc - The 5th Annual New Jersey Real Estate Conference Highlights Growing Optimism