New Jersey’s transit agency is looking to development leases on agency-owned properties to boost revenue and support new housing.
According to an article by Colleen Wilson on NorthJersey.com, “The NJ Transit board unanimously approved a lease Wednesday with the developers looking to build a mix of housing, retail and office space on agency property next to Metropark Station in Woodbridge Township — the largest-scale landlord arrangement in NJ Transit’s portfolio of properties.”
The move could help the agency gain sustainable revenue to bolster its operating budget through a recurring revenue stream while creating new housing opportunities. “The deal is significant because NJ Transit, like many public transportation agencies around the country, has generated real estate value at properties near transit stations, but rarely reaps those fiscal benefits despite facing systemic funding shortfalls.”
Zoe Baldwin, New Jersey director for the Regional Plan Association, said “Putting attractive destinations and housing next to train stations will help boost ridership, reduce car congestion on our roads, and the state will benefit from reduced traffic and environmental pollutants.” NJ Transit hopes the deal will be a model for other agency-owned properties.
FULL STORY: NJ Transit to gain revenue from new housing at Metropark station. A recipe for elsewhere?
Chicago Transit Faces Severe Service Cuts
Metra officials warn the agency could cut service by as much as 40 percent to make up for a massive budget shortfall.
US Transit Leaders Outline Current Challenges
Public transit providers still face budget gaps, staffing shortages, and challenges acquiring clean-energy vehicles.
Research Reveals Subsidized Transit Is More Efficient
Contrary to some arguments, public transit networks with higher government subsidies have higher ridership and more farebox revenue.
Alabama: Trump Terminates Settlements for Black Communities Harmed By Raw Sewage
Trump deemed the landmark civil rights agreement “illegal DEI and environmental justice policy.”
Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25% resulting in 1,900 jobs lost.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Waymo Gets Permission to Map SF’s Market Street
If allowed to operate on the traffic-restricted street, Waymo’s autonomous taxis would have a leg up over ride-hailing competitors — and counter the city’s efforts to grow bike and pedestrian on the thoroughfare.
Parklet Symposium Highlights the Success of Shared Spaces
Parklets got a boost during the Covid-19 pandemic, when the concept was translated to outdoor dining programs that offered restaurants a lifeline during the shutdown.
Federal Homelessness Agency Places Entire Staff on Leave
The U.S. Interagency Council on Homelessness is the only federal agency dedicated to preventing and ending homelessness.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
Smith Gee Studio
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Toledo-Lucas County Plan Commissions
Salt Lake City
NYU Wagner Graduate School of Public Service