<body><div><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=1gVKdO_1GpjkExq00" alt="https://img.particlenews.com/image.php?url=1gVKdO_1GpjkExq00" width="900" height="500" >New Jersey Transit is pursuing three transit-oriented development (TOD) projects in Jersey City, Bound Brook and Morristown that will result in more than 1,000 new homes on state-owned property near transit hubs.The TOD projects are part of New Jersey Gov. Mikie Sherrill's housing strategy and NJ Transit's Leveraging Assets for Non-farebox Dollars (LAND) Plan, NJ Transit officials said in a press release. The LAND Plan is NJ Transit's roadmap to raising as much as $1.9 billion in non-farebox revenue for the agency, up to $14 billion for the state and up to $1.6 billion in municipal revenues by leveraging portions of its 8,000-acre real-estate portfolio.In Jersey City, NJ Transit has issued a request for qualifications/proposals from developers interested in developing about 11 acres of NJ Transit-owned land adjacent to the Liberty State Park light-rail station. The project will create a mixed-use, mixed-income development with retail, public spaces and apartments for rent. At least 20% will be designated as affordable housing, and 10% as workforce housing. Proposals are due by Jan. 21, 2027.In Bound Brook, NJ Transit has entered a strategic partnership with Capodagli Property Co. to begin construction on the Meridia Downtown Project. Located at the Bound Brook rail station on the Raritan Valley Line, the mixed-use development will feature 218 apartments, a common amenity space, 3,600 square feet of ground-floor retail space and a parking facility.In Morristown, NJ Transit last month entered an exclusive negotiation agreement to develop two parcels of land adjacent to the Morristown train station. The parties will work with the town to finalize the development program, which will potentially include office space, multi-family residential, ground-floor retail, parking and other supporting uses, NJ Transit officials said.</div></body>

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New Jersey Transit is pursuing three transit-oriented development (TOD) projects in Jersey City, Bound Brook and Morristown that will result in more than 1,000 new homes on state-owned property near transit hubs. The TOD projects are part of New Jersey Gov. Mikie Sherrill's housing strategy and NJ Transit's Leveraging Assets...

NJ Transit advances transit-oriented development near 3 stations

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New Jersey Transit is pursuing three transit-oriented development (TOD) projects in Jersey City, Bound Brook and Morristown that will result in more than 1

NJ Transit advances transit-oriented development near 3 stations

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