Developers Take Advantage of New Law to Convert Age-Restricted Developments
By: Michael J. Lipari, Esq.
Last year, New Jersey passed a law that allows builders to apply to local planning boards to convert age-restricted (55+) residential developments to non-age restricted developments that would be open to persons of all ages. Due to the abundance of approved age-restricted projects and overall lack of demand, developers have begun using this law as a means to convert their stalled projects into more feasible ones devoid of age restrictions.
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