Introduction
Caroline Caulfield works closely with clients on development, financing, and regulation of various affordable and real estate matters.
My focus
In my practice, I focus on affordable housing development, commercial real estate, and land use projects. I have experience securing land use entitlements for mixed-use buildings, and working directly with ownership, government officials, and project professionals. I also have experience drafting and negotiating redevelopment and tax abatement agreements as well as assist in large-scale commercial real estate acquisitions.
Looking ahead
Demand for affordable housing in New Jersey is at an all-time high. Over 300 municipalities across the state have unmet fair share obligations. While the outcome of the November 2026 gubernatorial race could threaten robust enforcement of affordable housing mandates, these obligations will largely continue to be upheld in state court, given the strong background of the Mount Laurel Doctrine.
Even in municipalities where 30-year long-term tax exemptions and other public incentives have become controversial, we will continue to see exceptions made for PILOT agreements to support inclusionary projects, especially when a local administration is under pressure to comply with an outstanding obligation.
In the news
- Affordable Housing Finance
People on the move
July 31, 2025This roundup article of recent moves across the industry includes the NP arrivals of Washington, DC counsel Josh Gold, Chicago associate Isaac Markow, and New York City associates Caroline Caulfield and Nick Leon, all of the Affordable Housing & Real Estate practice.
- Law360
Nixon Peabody adds former HUD managing attorney
July 16, 2025The following article covers the NP arrival of Washington, DC Affordable Housing & Real Estate counsel Josh Gold, who joined NP this week from HUD. Josh is quoted in coverage, discussing what attracted him to NP, and AHRE deputy practice leader and strategic policy advisor Deborah VanAmerongen is also quoted. In addition, the coverage highlights several AHRE associates who recently joined the firm: Taheera Randolph of Washington, DC, Isaac Markow of Chicago, and Caroline Caulfield and Nick Leon of New York City.
- Reuters
The Daily Docket
July 16, 2025The following article covers the NP arrival of Washington, DC Affordable Housing & Real Estate counsel Josh Gold, who joined NP this week from HUD. Josh is quoted in coverage, discussing what attracted him to NP, and AHRE deputy practice leader and strategic policy advisor Deborah VanAmerongen is also quoted. In addition, the coverage highlights several AHRE associates who recently joined the firm: Taheera Randolph of Washington, DC, Isaac Markow of Chicago, and Caroline Caulfield and Nick Leon of New York City.
Admitted to practice
New Jersey
New York
Florida
Education
Rutgers University, School of Law, J.D.
Bard College, B.A.
Professional activities
- Leaders Council, Rutgers Center for Real Estate
- Board of Directors, Boys & Girls Clubs of Hudson County Foundation
- Board of Trustees, Hoboken Historical Museum
Professionals in the Practice Area
View AllAaron J. Yowell
Partner / Chief Innovation Officer- New York City
- Office:+1 212.940.3161
- ayowell@nixonpeabody.com
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