MAKING THE CONNECTION: TOD A BLUEPRINT FOR SUCCESS

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1 MAKING THE CONNECTION: TOD A BLUEPRINT FOR SUCCESS NJ TRANSIT s s PERSPECTIVE NYU Wagner Rudin Center for Transportation Policy and Management Presented by Rich Roberts, NJ TRANSIT November 14, 2008

2 Key Ingredients to Success Leadership and the Local Political Environment The Process The Partnership 2

3 NJ TRANSIT BUS AND RAIL NETWORK 27 Terminals,20,000 Bus Stops 164 Stations 3

4 NJ TRANSIT LIGHT RAIL NETWORK Newark Light Rail 17 Stations Hudson-Bergen Light Rail 23 Stations (8 TH St Bayonne newest) River Line Light Rail 20 Stations 4

5 KEY TOD SUCCESS FACTORS Stable political environment and local leader(s) Open, transparent, engagement of local community Partnerships are KEY! 5

6 NJ TRANSIT S S TRANSIT-FRIENDLY PLANNING PROCESS EDUCATE communities Create a collaborative VISION for TOD Scale of TOD needs to reflect specifics of area Once the vision is set, municipality adopts redevelopment PLAN or new zoning to memorialize/enact it IMPLEMENT (don t settle for ok projects) If NJ TRANSIT property is involved: RFP process Development and/or conveyance agreements 6

7 TRANSIT HUBS AND CORRIDORS EXPAND REACH OF TRUNK LINES BY CONNECTING WITH LOCAL DISTRIBUTORS (Rail, Bus and Light Rail) - - create economic development/job/residential opportunities MAJOR TRANSIT HUBS 1 Newark Penn Station 2 Journal Square 3 Hoboken Terminal 5 Newark Broad St. 6 Trenton 7 Walter Rand (Camden) 4 Secaucus Junction POTENTIAL REGIONAL TRANSIT HUBS (others possible) 9 Hackensack 12 Sports Complex 10 Paterson 13 New Brunswick 11 Elizabeth 14 Irvington 8 Atlantic City NEIGHBORHOOD HUBS scaling downward to local level 7

8 Newark Penn Station Area Urban Hub Tax Credit Program Administered by NJEDA - Tax credits = to from % of qualified capital investments - For projects within ½ mile radius of rail stations in designated cities Broad Street Station Area, Newark, NJ To qualify: - Businesses must make a min. $75 mil. capital investment - Have no less than 250 full time employees (Provisions for tenants to qualify) 8

9 URBAN TRANSIT HUBS JOBS, JOBS, JOBS! Newark - Broad Street Station Camden - Walter Rand Transp. Cntr. 9

10 TOD BENEFITS EVERYONE CAN WIN Opportunity for community to plan its future Creation of a community of place Increased area activity and security Economic benefits Sustainable & Green Increased transit ridership 10

11 TOD MEASURABLE BENEFITS TODs generate less vehicular trips and require less parking NJ TRANSIT analysis of residential TODs indicates trip reduction of 10% to 25% in peak periods and about 10% to 15% daily Transportation Cooperative Research Project (TCRP) Study of residential TODs shows similar results where TOD is proximate to a major urban center Overall, convenient transit increases property values Economically viable and sustainable development Enhances tax base of municipality 11

12 TOD SUCCESS STORY RAHWAY, NJ Rahway Rail Station Plaza NJ TRANSIT Reconfigured and modernized rail station (mid-1990 s) Partnered with the community to provide commuter parking in downtown deck: 450 dedicated spaces Recent private TOD in downtown: 800+ new residential units 16,000 square feet retail 40,000 sf civic/commercial 100-room Indigo hotel (W chain) opened May

13 TOD SUCCESS STORY MORRISTOWN, NJ THE HIGHLANDS AT MORRISTOWN STATION: NJT worked with town to create a TOD Overlay Zone proximate to rail station Town designated a New Jersey Transit Village (one of the first 5 in 1999) NJT-owned 3-acre surface parking lot; competitive RFP process to solicit developer interest Developer selected; final program includes: 218 residential units (rental apts.) 8000 sf of retail 750 space parking deck (415 commuter spaces) Supportive community, determined developer & strong apartment market Construction underway The Highlands at Morristown Station TOD 13

14 TOD IN PROCESS SOMERVILLE, NJ NJ TRANSIT, NJDOT and Office of Smart Growth funding sponsored Public Visioning Process 160 acre site includes municipally owned landfill and NJ TRANSIT-owned commuter parking lots Visioning sessions involved public in Site Planning AND Financial trade-off analysis: - Cost of public elements measured against volume of development Mixed use redevelopment plan adopted - includes 1,000 new residential units - sustainable environmental strategies, wetlands protection - green seam connects train station, downtown and project area RFQ responses (5) being reviewed by joint TEC starting this month Somerville Landfill & Station Area TOD Plan 14

15 CONCLUSION Work with leader in community willing to consider improving their future potential using transit accessibility as a major attribute Educate, develop a vision & adopt plans that involve ALL stakeholders in visioning, planning and developing financially feasible marketable projects Partnerships are KEY Thank You! 15