NJ TRANSIT has begun implementing its ambitious LAND Plan (Leveraging Assets for Non-Farebox Dollars), a long-term initiative designed to unlock the development potential of approximately 8,000 acres of agency-owned property throughout New Jersey. The program seeks to generate new revenue streams for NJ TRANSIT while helping address New Jersey’s housing shortage through transit-oriented development (TOD), mixed-use projects, and strategic public-private partnerships. NJ TRANSIT has identified the potential for thousands of new housing units, substantial economic activity, and significant long-term revenue generation through the strategic redevelopment of underutilized land adjacent to transit assets.
For developers, investors, and institutional partners, the LAND Plan represents one of the most significant public-sector development initiatives to emerge in New Jersey in decades.
A Rare Statewide Development Platform
Unlike a traditional municipal redevelopment opportunity, the LAND Plan offers access to a statewide portfolio of transit-adjacent assets located in both established urban markets and emerging growth corridors. These sites share one increasingly scarce characteristic: direct access to transportation infrastructure.
NJ TRANSIT began bringing LAND Plan opportunities to market in 2026, starting with its Bayonne 34th Street Station solicitation, and has identified a pipeline of additional sites throughout the state, including properties in Bordentown, Burlington South, Liberty State Park, Netherwood, Pennsauken, Princeton Junction, Riverside, Trenton, and Union City. The agency has also indicated that it will continue to consider unsolicited development proposals involving NJ TRANSIT-owned property that advance its transit-oriented development objectives.
This combination of formal procurements and flexibility for developer-driven proposals presents opportunities for both established TOD developers and new entrants seeking a foothold in New Jersey’s evolving development landscape.
More Than Real Estate: A Public-Private Partnership Opportunity
Developers evaluating LAND Plan opportunities should recognize that these projects are far more than conventional real estate deals. They are sophisticated public-private partnerships that require navigating multiple layers of governmental, regulatory, financial, and community stakeholder interests.
Successful projects will frequently require the integration of:
- Ground leases and master development agreements
- Public procurement and contracting requirements
- Municipal redevelopment plans and redevelopment agreements
- Local and state land use approvals
- Affordable housing obligations
- Environmental remediation and permitting issues
- Parking, mobility, and transportation planning
- Tax credits, incentives, and public financing tools
- Community engagement and stakeholder coordination
In many respects, developers responding to LAND Plan opportunities will be evaluated not only on project design and financial capability, but also on their ability to navigate a complex public-sector framework and deliver transformative projects that advance both local and statewide policy objectives.
The Bayonne 34th Street Project Sets the Tone
NJ TRANSIT’s first LAND Plan solicitation demonstrates the type of opportunity the agency intends to bring to market.
The Bayonne 34th Street Station RFQ/P encompasses approximately 4.3 acres adjacent to the Hudson-Bergen Light Rail Station. NJ TRANSIT envisions a vibrant mixed-use and mixed-income development featuring residential uses, ground-floor retail, enhanced commuter amenities, sustainable design elements, and strengthened connectivity to the region’s transit network.
Notably, the solicitation highlights a number of potential economic development tools that may support project feasibility, including:
- Aspire Tax Credits
- Brownfields Redevelopment Incentives
- Payment In Lieu of Taxes (PILOT) agreements
- Redevelopment Area Bonds (RABs)
The inclusion of these tools underscores a critical reality of many LAND Plan projects: the most competitive and financeable proposals will likely require sophisticated capital-stack strategies that effectively combine private investment with available public incentives and financing mechanisms.
Why Developers Should Be Preparing Now
Although many LAND Plan opportunities are still in the early stages of rollout, developers interested in participating should begin evaluating potential opportunities well before solicitations are released.
Early-stage diligence should include consideration of:
- Ownership and site-control structures
- Ground lease economics and risk allocation
- Redevelopment area designations and municipal planning objectives
- Entitlement pathways and zoning considerations
- Affordable housing requirements
- Infrastructure and transportation obligations
- Incentive eligibility and application timing
- Community and political considerations
- Financing and capital-stack strategies
Developers that understand these issues in advance will be better positioned to move decisively when opportunities become available and to submit proposals that address both market realities and public-sector priorities.
How MSW Can Help
Our team has significant experience representing developers in complex public-private real estate transactions throughout New Jersey, including projects involving NJ TRANSIT and other governmental entities.
What distinguishes our team is our ability to provide a fully integrated platform of legal services from project conception through closing and delivery.
Real Estate and Transactional
Our attorneys routinely structure and negotiate:
- Purchase and sale agreements
- Ground leases
- Master developer agreements
- Redevelopment agreements
- Joint venture arrangements
- Public-private partnership transactions
- Financing and closing documents
Land Use, Redevelopment and Entitlements
We guide developers through:
- Local redevelopment designations and planning processes
- Municipal, county, and regional approvals
- State permitting and regulatory approvals
- Environmental review and compliance
- Community engagement strategies
- Project entitlements through local and state governmental agencies
Economic Incentives and Project Finance
Our team has extensive experience securing and structuring:
- Aspire Tax Credits
- PILOT agreements
- Redevelopment Area Bonds
- Brownfields redevelopment incentives
- Infrastructure financing
- Other state and local economic development programs
Collectively, our attorneys have helped secure more than $400 million in Aspire tax credit awards and have extensive experience negotiating PILOT agreements and advising clients on incentive-backed redevelopment projects throughout New Jersey.
The Opportunity Ahead
The LAND Plan reflects more than a real estate initiative; it is a strategic effort to reshape how communities grow around New Jersey’s transit network. By leveraging publicly owned assets to create housing, attract investment, and generate long-term revenue, NJ TRANSIT is creating a new generation of “live-and-ride” communities across the state.
For developers, the opportunity is significant. But success will require more than identifying a strong site. It will require the ability to structure complex public-private partnerships, secure entitlements, assemble incentive packages, navigate stakeholder interests, and execute transformative projects from start to finish.
MSW is uniquely positioned to assist clients at every stage of that process. As additional LAND Plan opportunities come to market, our team stands ready to help developers evaluate, pursue, structure, finance, entitle, and close these landmark projects.
For more information about NJ TRANSIT LAND Plan opportunities, please contact:
Chris J. Murphy
Chair, Land Use, Zoning and Redevelopment
Chair, Tax Credits & Incentives
Phone: (973) 705-7421
Email: cmurphy@murphyllp.com
Brendan Pytka
Director of Tax Credits & Incentives
Phone: (862) 418-3702
Email: bpytka@murphyllp.com
