Morris Davis chaired Shortage of Land committee of Smart Growth Economic Development Coalition

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Date: 
Tuesday, November 21, 2017
Location: 
Newark, NJ

ROI-NJ

For all the campaign talk about funding pensions, sanctuary cities and legalizing marijuana, the business community knows one issue will dictate the success or failure of the next governor’s administration: economic development and job creation.

While Gov.-elect Phil Murphy spent the past six months campaigning, the Smart Growth Economic Development Coalition, a nearly 50-member group filled with experts in all areas of real estate development, met on a regular basis to formulate a detailed proposal of recommendations before the inauguration. The group created a detailed plan, together with corresponding draft legislation, regulation and executive orders that will be delivered to both Gov.-elect Murphy and the new Legislature.

The Smart Growth Economic Development Coalition has set its sights on four areas where state and local government must pave the way for the private sector and labor to create the volume of housing units and commercial premises that will be essential to New Jersey's economic growth in the years ahead:

Public incentives;
Local land-use law;
Regulations; and
Shortage of land.

SHORTAGE OF LAND: It takes a state to create space

The chair: Morris Davis, academic director for Rutgers Center for Real Estate at the Rutgers Business School

New Jersey needs a concerted effort at every level of government to assist the private sector in "making land." In other words, the state needs to eliminate or reduce the hurdles inherent in remediating, assembling and entitling large-tract sites. For starters, land held by public and quasi-public agencies in strategically located areas should be freed up for redevelopment. Examples include salt domes and DPW maintenance yards along valuable roadways when comparable alternatives are available elsewhere.

TAGS: Center for Real Estate Morris Davis