The transaction is part of the Commonwealth’s previously announced multi-billion dollar rail transportation initiative to improve service and infrastructure in the state.
With the passage of House Bill 511, state lawmakers have established a mechanism to annually fund capital transit projects that support economic development priorities throughout the state.
Elizabeth, New Jersey, was an important crossing point for railroads. The New Jersey Rail Road extended its line to Elizabeth, first known as Elizabethtown, in 1835.
“The Terminus will be a good location for one tavern, a blacksmith shop, a grocery store, and nothing else.”