NJ Transit’s LAND Plan: Nonfare Revenue & Rail Infrastructure Boost

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Introduction

New Jersey Transit (NJ Transit) has released its “Leveraging Assets for Nonfarebox Dollars” (LAND) plan, which outlines potential real estate ventures projected to generate almost $2 billion in nonfare revenue over the next three decades.

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LAND Plan Overview

The LAND plan is designed to guide future land development across NJ Transit’s 8,000-acre real estate holdings. The agency anticipates $1.9 billion in nonfare revenue, a $14 billion economic impact on the state, and $1.6 billion in revenue for local municipalities where projects are situated. The plan projects the creation of up to 50,000 jobs and 20,000 new housing units.

Proposed Development Strategies

The LAND plan identifies several potential development opportunities, including transit-oriented development, industrial warehousing, production hubs, event and pop-up spaces, retail concessions, advertising, and parking lot enhancements. These initiatives aim to diversify revenue streams beyond fare collection.

Revenue Generation through Environmental Initiatives

The plan also proposes wetland banking and solar power projects to generate revenue. The New Jersey Department of Environmental Protection would provide NJ Transit with ecological credits for wetland restoration or preservation. These credits can be utilized for sales, trades, or to mitigate environmental damages from other projects. Additionally, the development of solar power would help offset nonrenewable energy expenses.