Murphy Administration Unveils Proposal to Spur Transit-Oriented Development and Bolster NJ TRANSIT

nj.gov

The Murphy Administration today (6/14) unveiled a legislative proposal that would direct the New Jersey Economic Development Authority (NJEDA) to purchase up to $100 million in property from NJ TRANSIT to help expand commuter hubs across the state and meet a variety of critical needs. Under the proposal, the NJEDA would purchase a number of NJ TRANSIT properties, such as surface parking lots, and transform them into mixed-use, transit-oriented developments that will spur economic activity and increase walkability near transit lines while also creating a direct revenue source for the mass transit agency.