NJ TOD News
PEEK Development Concludes Initial Fundraising for Two QOFs Slated to Deliver 168 Market-Rate Multifamily Units to the City of Orange, N.J.
Multihousing Pro Magazine, August 19, 2019
PEEK Development recently completed the initial fundraising for two Qualified Opportunity Fund (QOF) projects that are in pre-construction phase in the City of Orange. The projects, PEEK Reock I QOF, LLC and PEEK Reock II QOF, LLC, are located in the City’s Reock Street Redevelopment Area (RSRA), one block from the NJ TRANSIT Orange Station and the Main Street Business District. Construction is scheduled to begin in 2020.
NJ Transit Commuters Will Soon Get More Information On Why Trains Are Delayed, Canceled
Colleen Wilson, North Jersey Record, August 19, 2019
On Monday (8/19), Governor Phil Murphy signed an executive order designed to encourage greater transparency in how renewed investment, reform and attention to NJ TRANSIT is improving commuter transit experience. Beginning in November, commuters will have better access to data that provide the reason trains are delayed or canceled. The order requires the transit agency to identify the number of times delays occur and why they are occurring. Commuters will be able to easily find these new metrics on NJTransit.com.
Massive 820-Unit Complex Could Replace East Orange’s Brick Church Plaza
Jared Kofsky, Jersey Digs, August 19, 2019
A new TOD proposal could bring a massive mixed-use residential and commercial complex to the City of East Orange. The project, the Crossings at Brick Church Station, would be located at the site of the Brick Church Plaza Shopping Center near the Brick Church Station. In recent years, the Urban Essex Coalition for Smart Growth has pushed for redevelopment of the site, noting that the plaza is one of the most important redevelopment opportunities within the corridor with the potential to serve as the catalyst for additional development in downtown East Orange. The East Orange Planning Board will hear the proposal this week for Preliminary and Final Site Plan approvals.
A Brief Update On Current Redevelopment Projects
Rahway Rising, August 19, 2019
Three Rahway downtown redevelopment projects are slated for completion by the year’s end or early 2020. The projects will bring new residential rental units to the City of Rahway. Acting Business Administrator Robert Landolfi stated that the first five-story complex, Reva Rahway, is expected to begin leasing in October. A mixed-use redevelopment project at Main and Monroe Streets will consist of two phases, and the Brownstones project, located at the former Wheatena property, will be realized in four phases over a 5-year period. All three projects have 30-year Payment in Lieu of Taxes (PILOT) agreements.
Commuters, Rejoice! Newark Penn Station Is Getting $18.4M Upgrade
Allison Pries, NJ Advance Media for NJ.com, August 20, 2019
The U.S. Department of Transportation has allocated $18.4 million to Newark Penn Station to improve service and complete renovations. The NJ TRANSIT-owned station is the third busiest station on Amtrak’s Northeast Corridor line and provides commuter service on NJ TRANSIT and PATH lines and access to the Newark Light Rail and NJ TRANSIT buses. The project will include the repair of Platform D, which serves Tracks 3 and 4 and is a crucial transfer point for Amtrak and NJ TRANSIT.
Regional and National TOD News
Broadway Junction Reimagined: City Unveils Plan to Transform East NY Hub
Andrea Leonhardt, BKReader, August 16, 2019
On Thursday, the New York City Economic Development Corporation revealed a proposal that would transform Broadway Junction into a major transit hub in East Brooklyn. The 25-acre hub is located at the intersection of several neighborhoods: Bedford Stuyvesant, Brownsville, Bushwick, Cypress Hills, East New York and Ocean Hill. The hub presently serves as a crucial gateway to the East New York Industrial Business Zone with access to five subway lines, six bus routes and the Long Island Rail Road. The project proposal focuses on five main aspects to improve Broadway Junction: transit access and equity, inclusive growth, economic and workforce development, active places and neighborhood amenities, and public realm and open space.
QLine To Join DDOT, SMART Public Transit Payment System Dart
Annalise Frank, Crain’s Detroit Business, August 19, 2019
Detroit’s QLine will integrate a universal payment system, Dart, for suburban and city buses in an effort to reverse declining ridership on the City’s streetcar line. Dart will raise prices for QLine Riders but will eliminate transfer fees between the QLine, Detroit Department of Transportation bus system (DDOT) and the Suburban Mobility Authority for Regional Transportation (SMART). The QLine will switch to Dart fares on October 1st of this year.
Plan To Renovate, Modernize Providence Rail Station Gets $25M Boost
Courtney Carter, WPRI News, August 19, 2019
U.S. Senator Jack Reed, Rhode Island Department of Transportation (RIDOT) and Amtrak officials recently announced the funding package and renovation project of the downtown Providence train station. The total project will cost $25 million with the Federal Railroad Administration providing $12.5 million, Amtrak contributing $7.25 million and RIDOT funding $5.25 million. The project plans include enhancing security, improving pedestrian access to and from the Providence Place mall and expanding the building’s interior.
Fantini & Gorga Arranges $20.5 Million for Mansfield TOD Project
Boston Real Estate Times, August 20, 2019
Fantini & Gorga recently secured a $20.5 million financing package for a TOD project at 300 North Main in Mansfield, MA. The project is located across the street from the T’s Commuter Rail Station, providing residents convenient access to both Boston and Providence. The development will comprise 100 rental apartments, 11,000+ square feet of multitenant retail space and on-site parking. Completion of the project is slated for mid-2020.
Allapattah to Get 267 Affordable Units for Elderly
John Charles Robbins, Miami Today, August 20, 2019
Allapattah Ventures, LLC is proposing an affordable apartment complex, Mosaico, at 1396 NW 36th Street in Miami. The complex will comprise approximately 267 dwelling units designed for elderly tenants. Mosaico is located a few blocks from the Allapattah Metrorail Station. The City’s Urban Development Review Board voted unanimously for a resolution recommending approval of the project.
When a Transit Agency Becomes a Suburban Developer
John Surico, Citylab, August 21, 2019
After a seven-year approval process, Metro-North Railroad, part of the nation’s largest transit agency, the New York Metropolitan Transportation Authority (MTA), will sell a parcel of its land to the developer AvalonBay Communities, a first for the agency. The land, adjacent to the Harrison train station, is currently used for a park-and-ride. In lieu of money, AvalonBay will construct a 598-space parking garage, valued at $45 million. Metro-North will receive recurring revenue from parking fees, expected to be $100,000 annually. Additionally, AvalonBay will build 143 apartments, 27,000 square feet of retail space, and two pedestrian plazas. This project demonstrates growing interest in TOD as a source of revenue for US transit agencies.
International TOD News
Country Garden Malaysia Unveils Lake City @ KL North Development
Justin Lim, The Edge Financial Daily, August 15, 2019
Property developer Country Garden Malaysia recently revealed plans for its first integrated TOD project, Lake City @ KL North. The project will follow the HOPSCA framework, hotel, office, park, shopping mall, connectivity and apartments, to create a complete neighborhood. Property values in KL North have risen due to the upcoming opening of Mass Rapid Transit Line 2, which has seven of 26 proposed stations in the KL North area.
Site of Vancouver’s First Train Station Set for Revival with Modern Industrial Building
Carlito Pablo, The Georgia Straight, August 19, 2019
PortLiving is proposing a mixed-use development project at 711 Alexander Street in Railtown, the district east of downtown Vancouver. Project designer Formosis Architecture is designing the ground floor to resemble a train station platform, as the building will be located on the site where the first train station in Vancouver once stood. The project, Railtown Station, will comprise retail, manufacturing and offices.
Québec To Join Rail Transit Club
Sandy Smith, Next City, August 21, 2019
Canadian Prime Minister Justin Trudeau and Québec City Mayor Regis Labeaume recently announced that the federal, provincial and city governments will jointly fund an expanded public transit network for the Québec provincial capital. Québec City will be Canada’s tenth city to implement rail transit service. The network will include a 14.3-mile tram line and two trolleybus lines totaling 9.3 miles. The rail transit service is expected to be completed in 2026.
Martin Place Towers Gain Final Approval Despite Concerns
Matt O’Sullivan, The Sydney Morning Herald, August 21, 2019
On Wednesday, NSW Planning Minister Rob Stokes gave the final approval for the construction of two Macquarie Group office towers. The project is located at the public square at Martin Place with one tower above the northern entrance and one tower above the southern entrance of the new underground metro train station in Sydney. Macquarie submitted an unsought proposal in 2017 to build a new metro rail station connecting to the existing Sydney station at Martin Place in return for development rights above the station.