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ARTICLE · 10 SEPTEMBER 2024

New Jersey Emerging Developers Grant Program: A Financial Boost For New Jersey's Real Estate Developers

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The "Emerging Developers Grant Program" is now open for applications. This newly established $20 million pilot program offers formidable financial incentives for both for-profit and non-profit developers.

United StatesReal Estate and Construction
Barry Halpern
Barry Halpern

The "Emerging Developers Grant Program" is now open for applications. This newly established $20 million pilot program offers formidable financial incentives for both for-profit and non-profit developers. It is designed to bolster smaller-scale developers and inject vibrancy into New Jersey's real estate sector.

Grant Program Highlights

  1. Grant Funding: Up to $200,000 for pre-development costs, potentially reaching $250,000 with the Opportunity Zone Bonus.
  2. Opportunity Zone Bonus: An additional $50,000 is available for projects in Designated Opportunity Zones or Government Restricted Municipalities (GRM).
  3. Soft Cost Coverage: The program reimburses up to 50% of eligible pre-development soft costs, easing the financial burden during the critical planning phase.

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