NJ TRANSIT Issues Solicitation for TOD Projects Near River Line Light Rail
NJ TRANSIT is soliciting written expressions of interest from firms to develop land owned by NJ TRANSIT along the 37-mile River LINE right-of-way, including 21 station areas across 15 municipalities, into vibrant TOD projects.
NEWARK, NJ—Following up on repeated statements that the state is looking to advance further transit-oriented development projects, NJ TRANSIT has issued a Request for Expressions of Interest (REOI) to identify an experienced private developer or joint venture partnership of developers to implement TOD projects on NJ TRANSIT owned property adjacent to the River LINE Light Rail system.
NJ TRANSIT is soliciting written expressions of interest from firms to develop land owned by NJ TRANSIT along the 37-mile River LINE right-of-way, including 21 station areas across 15 municipalities into vibrant TOD projects that support local and regional land use planning and economic development goals, and NJ TRANSIT’s transportation mission.
The solicitation came shortly after Gov. Phil Murphy said last week his administration will be looking to foster additional TOD projects throughout the Garden State.
“This is a great opportunity for developers to get in on the ground floor and help create thriving local communities,” says NJ TRANSIT president and CEO Kevin Corbett. “So many cities and townships in New Jersey have grown and benefited from their proximity to NJ TRANSIT service, and we want to accelerate that growth in partnership with our host communities by promoting and encouraging mixed-use TOD on our River LINE Light Rail system.”
NJ TRANSIT will review submitted EOI Responses to assess private and/or public interest in the River LINE properties, including market suitability, recommended land uses, potential opportunities and constraints, conceptual development scenarios and other factors.
If and when NJ TRANSIT elects to proceed with a project, NJ TRANSIT may issue a formal Request for Qualifications or Proposals for one or more station areas, the agency states.
NJ TRANSIT has scheduled an “Industry Day” forum to discuss the offering and particular station areas on Friday, October 18. The forum will begin at 10:30 a.m. at Votta Hall at Rowan College at Burlington County (900 College Circle, Mt. Laurel Township, NJ). All interested firms are encouraged to attend. EOI Responses must be submitted no later than 4 p.m. on, Nov. 7, 2019, and addressed as follows: NJ TRANSIT Real Estate, Attn: Sean Massey, Re: REOI River LINE, One Penn Plaza East, Newark, NJ 07105; P: 973-491-8709
NJ TRANSIT states that electronic submissions will not be accepted, and firms are responsible for delivery of EOI Responses.
The REOI is available to be downloaded at njtransitdevelopment.com.