CEO Dan Kennedy Offers Commercial Real Estate Industry Perspective:
EAST BRUNSWICK, N.J. (May 28, 2026) – CREDA NJ, the Commercial Real Estate Development Association, applauds Governor Mikie Sherrill’s decision to delay the application of NJDEP’s REAL Rule by at least one year from the current mid-July 2026 deadline. Dan Kennedy, NAIOP NJ Chief Executive Officer, offers the following statement:
“We commend Governor Sherrill and NJDEP Acting Commissioner Potosnak for showing decisive leadership in delaying the implementation of NJDEP’s Resilient Environments and Landscapes (REAL) Rule for at least one year. The commercial real estate industry is not opposed to reasonable, common-sense land use rules that will protect properties from flooding. We look forward to right-sizing this over-the-top regulatory action into a workable set of solutions to address our state’s documented flooding issues.
This adopted rule faced historic bipartisan opposition from a wide range of stakeholders, including state legislative leaders and more than 130 mayors. Adopted in the final hours of the Murphy Administration, the REAL Rule goes far beyond predictable risks from climate change. It makes all of New Jersey’s land use rules far more difficult to administer.
This move by Governor Sherrill aligns with her stated policy goals related to government efficiency, supporting redevelopment, increasing housing supply and reinvesting in public infrastructure. We stand ready to work with the Sherrill Administration to create fair and effective land use regulations based on sound science."
Dan Kennedy is available as a subject matter expert to speak about the potential impacts of the REAL Rule on the commercial real estate development industry. CREDA NJ is deeply engaged with this topic.
