How to turn two double lot properties side by side into an apartment complex?

[Marc Hayek]

I'm brand new to BP and I am seeking knowledge and direction from anyone who can assist. I purchased my home a few months ago and a family member owns the lot right next to me. I have a single family home that is on a 50 x 100 lot and the lot next to me is a mixed use building also 50 x 100. We have been discussing the idea of possibly merging the two properties and building an apartment complex but the problem is that we do not know where to start and where to obtain the finances for such a project. Is it worth it? What is involved with type of project? Will the town allow something like this? Any assistance is truly appreciated.

Location: Paterson, NJ