NJ Transit announced that it will host Industry Day, an open house networking event on April 21, for real estate developers, commercial real estate professionals and other interested parties to meet its real estate team and subject matter experts, and learn about upcoming transit-oriented development projects, as well as opportunities for leasing and retail.
The event comes six months after the agency launched The LAND Plan: Leveraging Assets for Non-farebox Dollars, a roadmap to raise as much as $1.9 billion in non-farebox revenue for NJ Transit, up to $14 billion for the State of New Jersey and up to $1.6 billion in municipal revenues over the next 30 years by leveraging portions of its 8,000-acre real estate portfolio.
This first-of-its-kind LAND Plan Industry Day is scheduled to begin at 9:00 a.m. in the board room at NJ Transit’s Newark headquarters. Doors open 8:30 a.m.
“I am excited to see NJ Transit bringing partners together for this open house. Transit-oriented development is one of the most effective tools we have to tackle our housing shortage, reduce congestion and air pollution, and lower costs for families,” said Governor Mikie Sherrill.
“Our state is committed to working alongside NJ Transit, developers and local communities to cut red tape and deliver housing people need near the transit they rely on every day. This is how we strengthen communities and build a more affordable future.”
Participants will have the opportunity to network with NJ Transit leadership and staff directly charged with implementing these initiatives.
They will also learn about upcoming offerings for prospective projects in Union City, Jersey City, Bayonne, Pennsauken, Princeton Junction and elsewhere. NJ Transit will also solicit informal market input for potential offerings in development.
NJ Transit President and CEO Kris Kolluri will provide welcome remarks. Speakers will include NJ Transit Senior Vice President, Real Estate Development and Planning Gagandeep Singh, Jersey City Deputy Mayor for Housing and Economic Development Keshav Poddar and others.
Interested parties can register here.
