More than 300 commercial real estate, finance and government professionals turned out to learn about NJ Transit’s upcoming transit-oriented development projects, along with opportunities for leasing and retail.
Participants in the agency’s first Industry Day on Tuesday networked with NJ TRANSIT leadership and staff directly charged with implementing these initiatives and learned about upcoming offerings for prospective projects in Union City, Jersey City, Bayonne, Pennsauken, Princeton Junction and elsewhere. NJ Transit also solicited informal market input for potential offerings in development.
The event, held at the Gateway Center in Newark, comes six months after the agency launched The LAND Plan: Leveraging Assets for Non-farebox Dollars, which NJ Transit officials contend is a roadmap to raise as much as $1.9 billion in non-farebox revenue for NJ Transit, up to $14 billion in economic activity for the State of New Jersey, and up to $1.6 billion in municipal revenues over the next 30 years by leveraging portions of its 8,000-acre real estate portfolio.
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