New and Newsworthy: May 2018
Recent news and notes on transit-oriented development trends here in New Jersey, in the nation, and beyond.
NEW JERSEY TOD NEWS
NAIOP Symposium: Millennials, Gold Coast Drive Change in NJ
By Elana Knopp, NJBiz, May 1, 2018
The New Jersey Chapter of the Commercial Real Estate Development Association’s annual symposium drew policy makers and industry leaders from across the state for discussions on the latest trends in New Jersey’s ever-changing real estate market, with a focus on suburban downtowns.
Ryan Property Requesting to Be Considered an Area in Need of Redevelopment
By Saul Qersdyn, Roselle Park News, May 2, 2018
Owners of nine properties located adjacent to the Roselle Park Station on the NJ TRANSIT Raritan Valley Line request the properties be deemed an area in need of redevelopment.
Somerville Approves Transit Village near Train Station
By Mike Deak, MyCentralJersey.com, May 10, 2018
A unanimous vote approved Somerset Development’s proposal for a mixed-use transit village, Somerset Station, to be built on the vacant landfill by the Somerville Station. The project will include 371 apartments, 156 townhomes, two parking garages, 4,000 square feet of retail space and a 2,600-square-foot community meeting space, in the area south of the railroad station.
Dunellen Downtown Redevelopment Plan Up for Public Hearing
By Mike Deak, MyCentralJersey.com, May 11, 2018
Dunellen Prism Associates Urban Renewal and K. Hovnanian at Dunellen Urban Renewal will present their proposed site plan for redevelopment adjacent to Dunellen Station to the borough planning board. Plans call for 252 apartments, 130 townhomes and a 9,000-square-foot retail building on the 19.4-acre property as well as a 9,240-square-foot retail building fronting on Washington Avenue.
Groundbreaking for New Meridia Project, May 24 in Linden
By Lawrence McCullough, CPC Meridia, May 12, 2018
Redevelopment in Linden will continue with construction of Capodagli Property Company’s second mixed-use retail/residential building in the central Jersey community.
Four towns receive $1M in Transit Village grants
By David Hutter, NJBiz.com, May 22, 2018
Four New Jersey communities have received grants totaling $1 million from the 2018 Transit Village grant program. Pleasantville received $400,000, Orange $195,000, Asbury Park $325,000 and Somerville $80,000.
Pleasantville receives $400K Transit Village grant to revitalize area
By Erin Serpico, The Press of Atlantic City, May 22, 2018
Pleasantville is one of four New Jersey municipalities to receive a grant this year from Transit Village Initiative, a multi-agency program led by the NJ Department of Transportation and NJ TRANSIT to develop and improve areas around transit facilities. The funding will be used to replace curbs and sidewalks, and install LED lighting, brick crosswalks, ramps and bike racks, as well as signage to promote the presence of the Bus Terminal.
Hackensack Performing Arts Center Wins Historic Preservation Award
By Elana Knopp, NJBiz.com, May 22, 2018
The Hackensack Performing Arts Center recently received the 2018 Bergen County Historic Preservation Award for its adaptive reuse of the former Masonic Temple. Rehabilitation of the 140-year-old building transformed the original meeting hall into a 224-seat theater and created new gallery space. Hackensack began the project following the 2012 adoption of its Downtown Rehabilitation Plan to revitalize the downtown district of the county seat into a mixed-use, walkable area.
Cherry Hill Planning Board OK’s ‘Victory West’ Redevelopment, Visioning for ‘Victory East’ Continues
By Matt Skoufalos, NJ PEN, May 22, 2018
The Cherry Hill Planning Board unanimously approved a two-phase redevelopment plan that would construct 370 housing units on the 35-acre Victory Refrigeration site, located proximate to the Woodcrest PATCO Station.
West Windsor reaches agreement with AvalonBay for transit village development next to Princeton Junction Train Station
By Krystal Knapp, Planet Princeton, May 29, 2018
West Windsor Township has reached a settlement agreement with AvalonBay for the redevelopment of a 25-acre site next to the Princeton Junction train station. The development will include 800 apartment units, including 132 units of affordable housing, and 37,000 square feet of retail space.
REGIONAL, NATIONAL & INTERNATIONAL TOD NEWS
How New Transit Options are Affecting Apartment Rents
By Patrick Sisson, Curbed, May 2, 2018
A new study by RCLCO, a real estate consultancy, and TransitScreen, a company that provides real-time transit arrival and departure info, examines how access to different modes of transportation—transit, car sharing, bike sharing, and ride hailing—affect urban property values.
Planning Begins for Public Market
By Anthony Branciforte, Journal Inquirer, May 8, 2018
New commuter rail service connecting New Haven, CT, and Springfield, MA, may not begin until later this month, but it has already spurred planning for redevelopment near the Windsor Lock Station, 12 miles north of Hartford. For more about the new commuter service, see Getting There: All aboard Connecticut’s new commuter rail line.
Seattle Raises the Equity Bar on Transit-Oriented Development
By Josh Cohen, Next City, May 8, 2018
Sound Transit’s recently-updated equitable transit oriented development (eTOD) policy aligns its goals with the state’s “80-80-80” policy for the disposition of the agency’s surplus land. For more about how the agency plans to advance eTOD, see its recent press release.
An Inside Look at Equitable Economic Development in Phoenix
By Carlos E. Delgado, CitiesSpeak.org/National League of Cities, May 9, 2018
An interview with Albert Santana, Director of High Capacity Transit and one of the Equitable Economic Development (EED) Fellows from the City of Phoenix, Arizona.
How the Government Can Solve L.A.’s Housing Crisis
By Kelsi Maree Borland, GlobeSt.com, May 10, 2018
Transit-oriented development is LA’s top method for combatting the housing crisis, but experts say the city must reduce all regulatory barriers on housing development. Julia E. Stein and David P. Waite discuss their recently released UCLA Affordable Housing Policy Brief, Cracking the Housing Code: Will Transit, Density and Land-Use Controls Help Solve California’s Affordability Crisis?
NFTA Wants to Redevelop Stand-Alone Rail Stations into Mixed-Use Projects
By Jonathan D. Epstein, The Buffalo News, May 14, 2018
The Niagara Frontier Transportation Authority, operator of Buffalo’s commuter bus and rail lines, wants to redevelop all its train stations in the city north of the Buffalo Niagara Medical Campus with the goal of creating mixed-use, transit-oriented station areas.
TOD Capitalizes on Existing Infrastructure
By Lisa Brown, GlobeSt.com, May 15, 2018
Two redevelopment projects near the MacArthur Station in Oakland, CA capitalize on the BART system. When completed, MacArthur Station Parcel B will feature 45 affordable residential units and 403 market rate units as well as retail. The recently completed 777 Broadway project uses an automated parking system, a 52-space, four-level puzzle lift parking structure.
AECOM and Fosun subsidiary establish joint venture to advance transit oriented development opportunities across People’s Republic of China
By Wanda Rich, Global Banking & Finance Review, May 24, 2018
AECOM, the global infrastructure firm based in California, announced it has signed an agreement with Sunvision Holdings Inc., a subsidiary of Shanghai-based Fosun, for the establishment of a joint venture company focused on developing Transit Oriented Development (TOD) project opportunities in China.
$25.8 million for TOD: FTA
By William C. Vantuono, Railway Age, May 25, 2018
The Federal Transit Administration has made available $25.8 million in competitive grant funds to support Transit-Oriented Development projects.
Efforts to build housing around transit threaten to price out those most dependent on bus and rail
By Joshua Emerson Smith, The San Diego Union-Tribune, May 27, 2018
In California, building denser market-rate housing around transit stops, coupled with affordable housing shortages, have led to concerns about displacement.
Yes, Transit-Rich Neighborhoods Are More Affordable
By Scott Bernstein and Peter Haas, CityLab, May 29, 2018
Center for Neighborhood Technology founder and chief innovation officer, Scott Bernstein, and CNT chief research scientist, Peter Haas, counter a recently published critique of the location efficiency theory.
First ‘critical project’ designation sought from Puerto Rico fiscal board
By Eva Lloréns Vélez, Caribbean Business, May 29, 2018
Puerto Rico’s congressionally appointed revitalization coordinator, Noel Zmot, has asked the island’s Financial Oversight and Management Board (FOMB) to designate Viewpoint at Roosevelt, a transit-oriented, multifamily rental housing project within the Hato Rey financial district, as a “critical project.”
Big North Philly station project backers should chase public cash and team with Temple, study says
By Jacob Adelman, The Philadelphia Inquirer, May 29, 2018
The success of a plan to revitalize the blighted area around Amtrak’s North Philadelphia station may hinge on whether its backers can tap more public money for the project and recruit Temple University and its health network as future anchor tenants, according to a ULI study on the proposal.