TRANSIT ORIENTED DEVELOPMENT PROJECTS ADVANCE AT NJ TRANSIT PROPERTIES
Major Mixed-Use Project in Somerville Enters New Phase; Developers Sought for Projects in Jersey City, Woodbridge
NEWARK, NJ – As part of an ongoing commitment to promote sustainable economic growth, NJ TRANSIT has announced that developers are now being sought to design and build Transit Oriented Development (TOD) projects on NJ TRANSIT properties located in Jersey City and Woodbridge.
Additionally, construction of more than 500 new apartments and townhomes at a TOD initiative in Somerville, announced in July 2019, is about to begin and a TOD project in Matawan is also advancing.
“In line with our 10-Year Strategic Plan (NJT2030) goal to promote a more sustainable future, we must plan for regional growth and development in an environmentally responsible way,” said NJ TRANSIT President & CEO Kevin Corbett. “That’s why we’re committed to promoting Transit Oriented Development, which connects NJ TRANSIT service to local real estate development to create convenient, compact, livable neighborhoods and reduces our carbon footprint.”
“Through Transit Oriented Development, we are achieving the fullest potential for NJ TRANSIT real estate and delivering the best value for the local taxpayer as well as for the commuting public,” said NJ TRANSIT Chief Financial Officer William Viqueira. “Situating mixed use development near transit hubs helps reduce roadway traffic, improves safety, promotes a healthier, walkable lifestyle and cuts down on greenhouse emissions. We’re very excited about the projects already underway and look forward to more over the next few years.”
“I am very pleased with what our team has been able to achieve over the past nine months. These are critical steps toward delivering on our long-term commitment to monetize NJ TRANSIT’s real estate assets and promote sustainable economic growth,” said NJ TRANSIT Chief of Real Estate, Economic and Transit Oriented Development, Carmen Taveras. “We are encouraged by the momentum we have been able to build despite the economic challenges posed by COVID-19.”
NJ TRANSIT is now accepting Statements of Qualifications and Expressions of Interest in connection with the development of approximately two acres of land on Communipaw Avenue in Jersey City, near the Liberty State Park Hudson-Bergen Light Rail station. This land is zoned for mixed-use redevelopment.
The agency is also soliciting Statements of Qualifications and Expressions of Interest in 12 acres located directly adjacent to the Metropark Station on the Northeast Corridor Line, one of the busiest train and bus stations in the NJ TRANSIT system. The site is envisioned for transformative mixed-use development that creates a new community of place centered at the transportation facilities. Project information for both sites is available at njtransitdevelopment.com.
In Somerville, Somerset Development and its development partners, Avalon Bay and Pulte Homes will construct hundreds of housing units on part of a 31-acre parcel adjacent to the Somerville Train Station. In addition to 347 apartments and 156 townhomes – which are slated to be completed by 2023 – the project includes commuter parking and a roadway link to Route 206 which bypasses local streets. Seventeen acres near the station have been set aside for open space.
NJ TRANSIT is also advancing a TOD project in Matawan, adjacent to the Aberdeen-Matawan Station. NJ TRANSIT and the Borough of Matawan are currently in a project development agreement that would develop the site for residential and retail use, along with land set aside for open space, in an area near the Aberdeen border on the North Jersey Coast Line.
Facilitating the development of TODs is one facet of NJ TRANSIT’s 2030 10-year Strategic Plan, through which the agency is promoting walkable communities, engaging in adaptive reuse of property to maximize its value, and fostering a green economy by reducing emissions related to transportation.
About NJ TRANSIT
NJ TRANSIT is the nation's largest statewide public transportation system providing more than 925,000 weekday trips on 251 bus routes, three light rail lines, 12 commuter rail lines and through Access Link paratransit service. It is the third largest transit system in the country with 166 rail stations, 62 light rail stations and more than 19,000 bus stops linking major points in New Jersey, New York and Philadelphia.