According to Politico, the state Department of Community Affairs reported $1.373 billion in construction activity approved by local New Jersey governments. Over half of the work – $802.7 million was for residential construction, while the rest was for office, retail, and non-residential work. Of note:
Jersey City authorized $58.2 million in work in September, the most of any municipality, while New Providence authorized $51.3 million of activity, $50 million which was for an assisted living facility. Hackensack authorized $51.2 million in construction work, including $48 million for Brick Yard urban renewal project, a mixed-use development with 254 apartments.
Local governments have authorized $12.424 billion in construction work during the first nine months of 2017, 5 percent less than during the same period last year but 16 percent more than during the first nine months of 2015.Politico
