The New Jersey Housing and Mortgage Finance Agency has asked hospitals in the state to participate in a $12 million partnership program designed to promote investment in affordable and supportive housing in their communities. Under the Hospital Partnership Subsidy Pilot Program, NJHMFA will match funding contributions from participating hospitals to provide housing for low- and moderate-income families. According to NJHMFA, they must include units set aside for special-needs residents and/or frequent users of hospital emergency room services. Read more at NJ Biz.
Town Approves Sales of 1,643-Acre Parcel
The Riverhead Town Board voted 3 to 2 Wednesday to approve the sale of 1,643 acres in Calverton. The $40 million purchase by Calverton Aviation & Technology represents the largest Long Island land sale in modern history. … Zoned to accommodate 9.8 million square feet of development, the purchase agreement with the town calls for Calverton Aviation & Technology to build a minimum of 1 million square feet of development at EPCAL within the first five years. Read more at Long Island Business News.
Google Planning Massive NYC Expansion
Google is planning on a New York City real estate expansion that could help the company add thousands of new workers in the region. Alphabet Inc., Google’s parent company, is closing in on a deal to buy or lease a 1.3 million- square-foot office building at St. John’s Terminal in the city’s West Village neighborhood, according to The Wall Street Journal citing sources close to the situation. Read more at the New York Business Journal.
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Twitter Adds Five More Years to Chelsea Lease
Twitter is extending its lease at Columbia Property Trust’s Chelsea office property, renewing its space there through 2030. The social media company leases 215,000 square feet at 249 West 17th St., according to the landlord, after taking space there four years ago. Its original lease was due to expire in 2025, making this new deal a five-year extension. Read more at BisNow.