New Jersey's Fourth Round: What It Means for Developers Right Now

New Jersey's Fourth Round affordable housing rules, running 2025 through 2035, are opening rezoned sites across the state. Developers evaluating those sites need feasibility work before a deal is signed, not after.

Developers are treating Fourth Round obligation numbers as a zoning map lookup, without running the massing and unit mix analysis that reveals whether a site actually pencils.

Run architectural feasibility studies, massing, unit mix, buildable envelope, against a site's actual adopted ordinance before negotiating a purchase price.

Positions PUR4 as the feasibility partner developers bring in before committing capital to a Fourth Round rezoned site.

Sites that look viable on a zoning summary can fail once density, inclusionary set-aside, and site constraints are modeled together.

The Fourth Round obligation runs a full decade. Developers who run feasibility work early get first look at sites before they're bid up.