Aspire Tax Credits Awarded to H-2 at HELIX NJ - Liebling, Tattoni, Poddar Counsel Redeveloper in Application
Windels Marx represented SJP Properties as redeveloper in successfully obtaining via the NJEDA an approval of Aspire tax credits of up to $103.9 million to support construction of the second building at HELIX NJ in New Brunswick. Chuck Liebling, Julie Tattoni and Keshav Poddar represented SJP in the Aspire application process.
Dubbed H-2, the building is a 10-story, 370,000 sf research and development tower that will house the North American headquarters of Nokia Bell Labs. This marks a follow-up to a prior Aspire credit of $271 million awarded for the first HELIX phase to the New Brunswick Development Corporation, a long-time client of Windels Marx and the HELIX master developer.
The use of Aspire tax credits is one economically important component of the significantly larger representation at HELIX NJ, which includes numerous redevelopment issues – land acquisition, redevelopment agreements, bond financing, public-private partnerships, private joint ventures, collaboration with multiple major educational, healthcare and academic institutions, environmental remediation, and others.
Stay tuned for H-3, which will push the overall cost for all components of HELIX NJ to well over $1 billion, and learn more about the Aspire Tax Credit Program in this presentation developed by Chuck Liebling, Julie Tattoni and Keshav Poddar.
Media coverage (subscriptions may apply): MyCentralJersey.com, NJBIZ, Real Estate NJ
