New Jersey A3535 authorizes conversion of certain office parks and retail centers to mixed-use developments.
New Jersey A3535 seeks to repurpose abandoned and underutilized office parks and retail centers into mixed-use developments. The bill defines "eligible property" as an office park of at least 50,000 square feet or a retail center of at least 15,000 square feet with a vacancy rate of at least 40 percent. These properties must be located within Planning Areas 1 and 2, within one mile of a transit center or central business district, and within a Department of Environmental Protection sewer service area. The bill excludes properties near hazardous sites or heavy industrial uses.
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