Structuring and Financing Redevelopment Projects

The principals of Nassau Capital Advisors, LLC have deep experience in the development of real estate. They bring exceptional capabilities to clients seeking advice and counsel on how to structure and finance redevelopment projects in ways that are smart and successful.

Our client base on redevelopment matters includes both municipalities and other governmental agencies, as well as private developers and land owners.

Private Development

Our principals have had leading roles as principals in structuring and overseeing a number of successful private downtown redevelopment projects in New Jersey over the past several years.

Rose Hall Redevelopment Project
Green Village Road
Downtown Madison, NJ

Bob Powell was the team leader in negotiating acquisition agreements, site plan strategy and entitlement approvals for the redevelopment of this 5-acre site in downtown Madison, NJ (Morris County). The site was acquired from the Borough of Madison through a competitive process, and is currently under redevelopment with construction of 135 luxury LEED certified rental apartments and condominium units in the heart of this historic Borough, a block away from the NJ Transit rail station.

Princeton Downtown Redevelopment Project
Princeton, NJ

Dr. Powell served as the leader of the development team which developed the Princeton Downtown Redevelopment project in Princeton, NJ.  The project is a public/private partnership with the Borough of Princeton, undertaken on a former municipal parking lot, now under a long-term ground lease by the town to the development entity.  The project features 74 luxury apartments (including 12 “affordable” units), retail space, and a 500-car parking garage.  In 2005 the project received the coveted “Smart Growth” award from New Jersey Future. The project featured a long-term tax abatement agreement between the redevelopment group and Princeton providing for substantial new revenues to the municipality which are used to finance the municipal parking garage.

Redevelopment Advisor to Municipalities

In our representation of municipalities, we are frequently engaged to assist a town in negotiations with a private developer.  Often our focus is the need for, and structure of, tax abatement agreements, including PILOT agreements pursuant to the Long Term Tax Abatement Statute.

Our firm currently represents Ewing Township (Mercer County) in its negotiations with one of New Jersey’s largest apartment developers in connection with a long-term PILOT for the construction of approximately 1,000 units as part of the Parkway Avenue Redevelopment Project.  Separately, we are advising the Township on the structure of a long-term PILOT agreement with a separate development company which is planning to develop a 250,000 s.f. retail center in the same redevelopment area in Ewing.

We recently represented Washington Township (Gloucester County) as financial advisor in connection with litigation between the Township and a designated redeveloper of a 400-unit residential and mixed use project.  The litigation was focused on the need for (and specific structure of) a PILOT agreement for the project.  We were instrumental in assisting the Township in settling the litigation on terms favorable to the community and the project.