Bill > A1294

This bill authorizes the conversion of certain eligible office parks and retail centers with a vacancy rate of at least 40% and located in designated planning areas or near transit stations or central business districts to mixed-use developments. The bill allows such conversions to be a permitted use without requiring a use variance, provided certain requirements are met, including the inclusion of affordable housing units and enhancements to multimodal transportation connectivity. The bill also requires the Department of Community Affairs to conduct an inventory of abandoned and underutilized retail centers, office parks, and other stranded assets, and provide a report to the Legislature within 12 months.

Government Affairs

https://www.njleg.state.nj.us/bill-search/2022/A1294