New Jersey’s real estate market and development landscape continue to show strong activity as of August 2025, with a mix of large-scale construction projects, urban revitalizations, and evolving housing trends. From residential developments and commercial expansions to infrastructure upgrades and record-breaking school and transportation projects, the Garden State remains a hub for investment, growth, and opportunity.
For the latest news and updates on real estate in New Jersey, visit Explore New Jersey Real Estate.
Major Construction and Development Project
Roselle Redevelopment Initiative
The Borough of Roselle has approved an ambitious redevelopment ordinance to transform vacant lots at Spruce and Warren Streets into a 195-unit apartment building. The project will include approximately 3,200 square feet of retail space and dedicate 10% of units as affordable housing, reflecting the state’s ongoing push for mixed-use development and housing equity.
Clinton Lofts, Trenton
Trenton’s Clinton Lofts, a redevelopment project that transformed a vacant lot into an award-winning space, is now leasing. Tenants can move in shortly after the first week of September, bringing new residential energy to the downtown corridor. The project previously won the 2025 Smart Growth Award, highlighting its innovative and sustainable design.
Fanwood’s Sheelan’s Crossing and Fabio’s Bistro
In Fanwood, the local fire department is conducting final training exercises at the Sheelan’s Crossing building before demolition begins. The site will make way for an expanded Fabio’s Bistro, including a bar and event space. Demolition is expected within the next two weeks, marking a key step in the borough’s downtown revitalization.
Cape May Infrastructure and Community Upgrades
The City of Cape May is undertaking multiple construction projects:
- Harborview Park rehabilitation, anticipated to begin in winter 2025
- New police station, projected to start in 2025
- Tennis Club upgrades, expected to commence in fall 2025
- A $7 million sanitary sewer and water system improvement project starting September 3, 2025, on Illinois Avenue
Berkeley Heights Township Revitalization
A major infrastructure initiative at Sherman Avenue & Peppertown Park is designed to narrow roadways, add uniform sidewalks, and create a multi-use path, encouraging walking and biking in the Downtown area. This project reflects New Jersey’s growing focus on pedestrian-friendly urban design.
Record-Breaking Statewide Investments
New Jersey anticipates a historic period of construction investment:
- $1 billion in school construction via the New Jersey Schools Development Authority
- $3.1 billion in projects by the New Jersey Turnpike Authority
- $2.2 billion for bridges, highways, and safety improvements through the New Jersey Department of Transportation
Housing Market Trends: Inventory, Prices, and Affordability
Inventory and Sales Activity
As of July 2025, New Jersey’s housing inventory has risen across multiple property types:
- Single-family homes up 8.9%
- Townhouses up 28.2%
- Adult communities up 57.8%
Sales remain strong, with properties pending in approximately 19 days, and sellers still benefiting from high average prices. The median home price statewide is $569,578, up 4.2% year-over-year.
Central Jersey Market Highlights
- Middlesex County saw a 27.2% increase in homes for sale, from 732 to 931
- Hunterdon County experienced a slight 2.3% decline in listings
- Single-family homes are typically on the market 23–32 days, depending on the county
- Condominiums and townhomes sold for 100.7% of their list price, though prices dipped slightly in some areas
July 2025 Sales Data
- Average single-family home sold for $776,166, a 6.6% increase over July 2024
- Essex County recorded the highest median sale price at $878,000
- Salem County reported the lowest median sale price at $280,000
Housing Affordability Concerns
Despite the market’s growth, over half of New Jersey residents express concern about affordability. There is strong support for legislative measures, including:
- Preserving the NJ Affordable Housing Trust Fund
- Increasing rental assistance programs
- Enacting a surcharge on luxury home sales over $2 million
Notable Real Estate and Development Moves
- Stonemont expanded its New Jersey holdings with a 67,000-square-foot industrial service facility in Logan
- A packaging startup leased 210,000 sq. ft. at a new warehouse in Pennsylvania
- Architect Hanrahan was named an AIA Fellow, recognizing design excellence
- PCCP provided a $162 million construction loan for the 345-unit Hoboken Urby project
- Foya Development Group, led by Adenah Bayoh, launched the Southside View Ribbon Cutting Ceremony in Newark, creating 100+ family-sized units with sustainable design and community services to expand equitable housing opportunities
Top 10 New Jersey Development Projects to Watch in 2025
New Jersey’s construction and real estate scene is buzzing in 2025, with projects spanning residential, commercial, and infrastructure sectors. Here are the 10 most noteworthy developments shaping the Garden State this year:
1. Roselle Redevelopment – Spruce & Warren Streets
- Scope: 195-unit apartment building with 10% affordable housing
- Features: 3,200 sq. ft. retail space
- Impact: Revitalizing vacant lots and boosting downtown livability
2. Clinton Lofts, Trenton
- Scope: Converted vacant lot into award-winning residential complex
- Highlights: Smart Growth Award winner for 2025
- Timeline: Leasing begins early September
3. Fabio’s Bistro Expansion, Fanwood
- Scope: Demolition of Sheelan’s Crossing building to make way for expanded restaurant
- Features: Bar and event space
- Status: Demolition expected within two weeks
4. Cape May Harborview Park & Tennis Club Upgrades
- Scope: Park rehabilitation and sports facility improvements
- Timeline: Construction begins winter/fall 2025
- Impact: Enhancing community recreation spaces
5. Cape May Police Station
- Scope: New, modern police facility
- Timeline: Anticipated start 2025
- Impact: Strengthening public safety infrastructure
6. Cape May $7M Sewer & Water Project
- Scope: Upgrades to sanitary sewer and water systems on Illinois Avenue
- Timeline: Starts September 3, 2025
- Impact: Critical infrastructure improvements for city residents
7. Sherman Avenue & Peppertown Park, Berkeley Heights
- Scope: Roadway narrowing, uniform sidewalks, multi-use path
- Impact: Encouraging walking, biking, and Downtown revitalization
8. Hoboken Urby – 345-Unit Residential Project
- Scope: Major urban residential development
- Funding: $162 million construction loan from PCCP
- Impact: Expanding high-density, mixed-use housing in Hoboken
9. Southside View, Newark – Foya Development Group
- Scope: 100+ family-sized units with sustainable design
- Highlights: Equitable housing focus with community services
- Impact: Addressing housing affordability and access in Newark
10. Statewide Infrastructure Investment
- Scope: Record-breaking projects across schools, highways, and bridges
- Funding: $1B for school construction, $3.1B by NJ Turnpike Authority, $2.2B by NJDOT
- Impact: Modernizing New Jersey’s infrastructure and supporting long-term growth
Why These Projects Matter
These developments reflect New Jersey’s focus on sustainable growth, housing accessibility, and urban revitalization. From high-density residential complexes to critical infrastructure improvements, these projects are reshaping communities while supporting economic opportunity and quality of life.
New Jersey’s real estate landscape remains dynamic, balancing urban redevelopment, residential expansion, and critical infrastructure upgrades. Rising inventory and strategic developments signal continued opportunity for buyers, investors, and community stakeholders alike.
For ongoing coverage of New Jersey housing, construction projects, and market trends, visit Explore New Jersey Real Estate.
