New Jersey's New Construction Code Has Arrived. The Real Estate Implications Are Immediate.

Updated building codes impact real estate owners, developers, investors, and lenders by affecting project schedules, permitting, costs, and risk allocation. Key considerations include determining if projects fall under transition rules, revisiting budgets due to increased construction and energy standards, assessing redevelopment strategies, preparing for stricter energy and safety requirements, reviewing contracts for risk allocation, and coordinating early with design professionals to avoid delays. Proactive review is essential to manage compliance and costs.