NJT River LINE Light Rail Estate Optimization Study

Details

  • Client New Jersey Transit (NJT)
  • Location Camden to Trenton, NJ
  • Year 2019
  • Project Focus Transit Oriented Development (TOD)

What We Did

  • Developed industry relationships and best practice experience in public/private partnership development.
  • Created site development opportunities for NJT.
  • Furthered TOD initiatives of real property.

Project Description

New Jersey Transit operates a light rail line, the Riverline, connecting Camden to Trenton. Light rail ridership has been decreasing and a desire to understand ways to promote the growth of adjacent and proximate areas has increased. NJT wished to monetize current real estate assets to provide a revenue stream for NJT.

MCFA was hired to provide professional services support in furtherance of TOD initiatives of real property. Project deliverables include a real property portfolio review, development sites/concepts, industry outreach, and creation, marketing, and issuance of an RFQ to maximize and engage a pool of potential developers.

MCFA will partner with NJT staff and bring industry relationships and industry best practice experience in public/private partnership development to create a range of asset capitalization options and site development opportunities for NJT’s consideration and execution.

NJT RIVER LINE PROJECT SHEET