Gov. Phil Murphy Recently Announced that the State’s Economic Development Authority Will Partner with NJ Transit to Redevelop Land Surrounding NJ Transit Stations
Gov. Phil Murphy recently announced that the state’s Economic Development Authority will partner with NJ Transit to redevelop land surrounding New Jersey’s train stations. The new initiative should result in many new opportunities for New Jersey businesses.
“Transit-oriented development and encouraging smart growth is one of the centerpieces of Gov. Murphy’s economic strategy,” Tim Sullivan, the CEO of the EDA, said. “The governor’s plan advances NJ Transit’s continuing efforts to promote economic growth in the state while increasing non-fare box revenue for the agency,” Nancy Snyder, a spokeswoman for NJ Transit, added.
Plan to Redevelop NJ Transit Stations
Under the plan, parking lots and other property located in close proximity to rail stations would be converted into mixed-use developments containing housing and retail businesses. The idea is to establish “villages” that spur economic activity in areas that are currently underutilized.
According to the Murphy Administration, the state plans to prioritize development around stations in Newark, Trenton, Metro Park, Jersey City, and Paterson. NJ Transit has separately targeted locations in Bordentown, Bound Brook, Camden, and Hoboken. The EDA has yet to release any information about the size of the lots and how much housing and retail space could be built. Issues regarding zoning, housing density, and the establishment of additional transit services near the properties will be addressed on a project-by-project basis, according to officials from NJ Transit and the Murphy Administration.
Existing Transit Oriented Design Developments
While this is the first time that the State of New Jersey has officially targeted transit redevelopment, it is not a new idea. In support of the initiative, Sullivan cited similar redevelopment projects on property owned by New York’s Metropolitan Transportation Authority (MTA).
In New Jersey, several local municipalities have also worked with NJ Transit. The Link at Aberdeen Station, which was the result of a partnership between NJ Transit, Aberdeen Township and the developer, opened in 2018. It features apartments, stores, restaurants and walkable access to the Aberdeen-Matawan Station.
This summer, the city of Bayonne and NJ Transit announced they are partnering on a redevelopment project that will involve the construction of multi-unit mixed-use building on what is now part of the parking lot of the 34th Street Hudson-Bergen Light Rail station.
In Somerville, a developer purchased 11 acres of land from NJ Transit, which will serve as the site for a Somerset Station transit village. The project is slated to include 370 apartments, 156 townhouses, 4,000 square feet of retail space, two parking garages, and a new road connecting Route 206 with the Raritan Valley Line rail station.
Opportunities for New Jersey Developers
Given that the Murphy Administration has stated that it plans to act quickly, we expect that the EDA and NJ Transit will announce additional details shortly, including the publication of Requests for Proposal/Qualifications/Bids.
For businesses that are interested in transit-oriented design developments, we encourage you to work with a knowledgeable New Jersey land use attorney who can guide you through every stage of the process, from proposal to construction.
If you have questions, please contact us
If you have any questions or if you would like to discuss the matter further, please contact me, Donald M. Pepe, or the Scarinci Hollenbeck attorney with whom you work, at 201-806-3364.
This article is a part of a series covering New Jersey’s new initiative to redevelop areas near public transit centers. Additional installments from the series are listed below:
What Business Owners Get Wrong Before Meeting a Litigation Attorney
What should you expect when meeting a litigation attorney about a business dispute? You should expect to describe the dispute in your own words, hand over the most important documents, flag any deadlines or immediate threats, and leave with a clearer picture of the problem, what information is still needed, and the likely next steps. […]
Arbitration vs. Litigation vs. Mediation: What New Jersey Businesses Should Know Before Signing a Contract
Arbitration resolves disputes privately before an arbitrator whose decision is usually final, while litigation resolves them in court with full rights of appeal. Whether a business ends up in arbitration or litigation is often decided when it signs the contract, long before any dispute arises. Key Takeaways When facing a contract dispute, carefully consider your […]
Can You Own Part of a New Jersey Business Without a Written Agreement?
Can you own part of a business in New Jersey without a written agreement? Yes, it is possible. Under New Jersey’s Uniform Partnership Act, a partnership can arise when two or more people carry on a business as co-owners for profit, whether or not they ever intended to form one. Ownership doesn’t necessarily depend on […]
Crisis-Proofing Your New Jersey Business: Building a Crisis Response Plan Before You Need One
For New Jersey businesses, crisis preparedness should be viewed as a legal and operational function, not simply an emergency-management exercise. A well-designed crisis response plan can help preserve evidence, protect confidential communications, meet reporting obligations, limit unnecessary exposure, and prevent an already difficult situation from becoming a larger legal problem. Key Takeaways A serious crisis […]
Monmouth County's Next Development Wave: What Developers and Investors Need to Know
Monmouth County is entering a significant new phase of development. For those looking to acquire property or undertake a new project, understanding the market opportunity is only the beginning. The more important question is whether a particular property can actually be developed as contemplated and what approvals, agreements, and other conditions will be required to […]
Are Your Conversations with AI Shielded from Discovery? Courts Are Split
Whether a client’s prompts to a generative AI tool and the documents it produces are protected from disclosure depends on the case type, who claims protection, and whether counsel was involved. In United States v. Heppner, a New York federal judge ruled that a criminal defendant’s communications with an AI platform were protected by neither […]
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!
