- 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.
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.