NJ TRANSIT has 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 agency-owned property adjacent to the River LINE light rail system.
NJ TRANSIT is soliciting written expressions of interest from qualified and experienced developers to develop land owned by the transit agency 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, according to a statement.
“This is a great opportunity for developers to get in on the ground floor and help create thriving local communities,” said NJ TRANSIT President/CEO Kevin Corbett.
NJ TRANSIT seeks to obtain information and feedback to assess the viability of making all or a portion of its River LINE station area parcels available for redevelopment, and 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, 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.
Electronic submissions will not be accepted, and firms are responsible for delivery of EOI Responses. Reliance upon the United States Postal Service or other carriers is at the firm’s risk.
NJ TRANSIT is working to ensure the communities it serves get the most out of mass transit. By tying mixed use developments to the organization’s light rail stations, rail stations and bus lines via transit-oriented design, a municipality can enhance a resident’s quality of life by providing not just local neighborhood amenities but easy access via NJ TRANSIT to the incredible resources available throughout the state.
The River LINE project is subject to the provisions of the Division of Revenue and Enterprise Services Business Registration Certification Act (N.J.S.A. 52:32-44). Registration with the Division of Revenue and Enterprise Services within the Department of Treasury is required.