New Jersey Transit (NJT) recently issued a Request for Expressions of Interest (REOI) “to identify an experienced private developer or joint venture of developers to implement Transit Oriented Development (TOD) projects on NJT-owned property adjacent to the River Line Light Rail system.”
NJT is soliciting interest to develop land along the 37-mile River LINE right-of-way, including 21 station areas across 15 municipalities into TOD projects that support local and regional land use planning and economic development goals, and NJT’S transportation mission.
The passenger rail company said it “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 that would inform overall project delivery. 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.”
An Industry Day forum to discuss the offering and particular station areas will be held on Friday, Oct. 18, 2019, at 10:30 a.m. at Votta Hall at Rowan College at Burlington County.
EOI Responses must be submitted no later than 4 p.m., Nov. 7, 2019. The REOI is available for download here.
“This is a great opportunity for developers to get in on the ground floor and help create thriving local communities,” said NJT 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.”