Demand for parking at multifamily properties in New Jersey is well below what state guidelines require, according to a newly released study by the Rutgers Center for Real Estate, highlighting the potential to reduce construction costs, improve housing affordability and soften the environmental impact of new development by easing state mandates.

Construction is set to begin on a long-awaited pedestrian bridge that will connect downtown Newark to the city’s acclaimed Ironbound neighborhood, helping to spark new development and create additional access to both Newark Penn Station and the Prudential Center.

CrownPoint Group and Lamar Cos. are set to build a new 135,000-square-foot self-storage facility in Newark after acquiring a one-acre parcel in the city’s Ironbound section.

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