BINJE

The entire Atlantic City Expressway will have three lanes in each direction with a $400 million project that broke ground today, a long-awaited fix for one of South Jersey’s biggest traffic bottlenecks. After years of planning, the South Jersey Transportation Authority is set to begin its biggest-ever capital project. The SJTA initially estimated the cost of the widening at about $180 million before studies and planning began.

Prospective renters looking for quality, income-restricted housing in Mercer County have a limited-time window to act. Community Investment Strategies (CIS) has officially announced that preliminary applications are currently being accepted for The Place at East Windsor, a brand-new residential community located in East Windsor, New Jersey. The application window is open through Oct. 26, after which a random lottery will be conducted to determine the selection of households for residency.

Prickett Preserve, a 56,252-square-foot Wegmans-anchored shopping center about a mile from Ewing Township, sold this week for the highest price per square foot of any shopping center deal ever transacted in the Philadelphia MSA. DeLuca Homes and Envision Land Use sold the property at 930 Stony Hill Road in Yardley, Penn., to L&B Realty Advisors LLP for an undisclosed price.

In a strategic move to better support the state’s civic and educational pillars, Kearny Bank has officially launched a dedicated Nonprofit and Independent Education Banking team. Designed specifically for nonprofit organizations, charter schools, and independent schools across New Jersey, the specialized unit delivers tailored financial solutions backed by deep industry expertise.

In an effort to counteract shifting federal eligibility requirements and reduced financial assistance, the New Jersey Department of Banking and Insurance (DOBI) has announced over $5 million in Navigator grant awards to 33 community organizations across the state. The funding is designed to provide free, one-to-one assistance, education, and outreach to uninsured and underinsured residents utilizing Get Covered New Jersey, the state’s official health insurance marketplace.

Demonstrating continued investor appetite for well-located infill assets in New Jersey’s transit hubs, SAGE Investment Real Estate Advisors (SAGE) has successfully brokered the $5 million sale of Colonial House Apartments, a 43-unit multifamily community located at 128-144 Westfield Ave. in Elizabeth. SAGE Partner and Co-Founder Steve Tragash exclusively represented the seller—a multi-generational family ownership group—and procured an unnamed all-cash private investor for the transaction.

Marking the largest research donation in its history, Atlantic Health System announced a transformative $5 million pledge from prominent New Jersey philanthropists Bruce I. Jacobs and Kenneth N. Levy. The gift establishes The Jacobs Levy Clinical Research and Innovation Endowment at the Atlantic Health Clinical Research and Innovation Institute (AHCRII), providing a sustainable, perpetual source of annual funding dedicated entirely to accelerating novel research and discoveries in oncology.

In a major boost to regional health equity and housing stability, RWJBarnabas Health has announced a $1 million donation to the United Community Corporation (UCC). The critical funding acts as a financial lifeline, securing the long-term future of a vital local institution while directly doubling the capacity of its medical respite program for unhoused residents.

Ask Alberto Garofalo what matters most in leadership, and the answer comes quickly. “It’s always been about the people,” he says. It’s a philosophy he has carried through more than two decades at Bank of America, and one he now puts into practice every day across the state as president of Bank of America New Jersey. The bank employs more than 10,000 people in the state and operates approximately 200 financial centers. “When you invest in people, and not results — the results come,” he says.

Students aspiring to enter the commercial property sector will soon have a dedicated undergraduate pathway. The Rutgers Board of Governors has officially voted to approve a new Bachelor of Science in Real Estate degree program, which will be offered through Rutgers Business School across its Newark and New Brunswick campuses.