NJ TRANSIT is opening its doors to the real estate industry as it moves to transform underutilized public land into a multi-billion-dollar economic engine. The agency announced it will host its inaugural LAND Plan Industry Day on April 21 at its Newark headquarters.
The networking event and open house are designed to connect developers and commercial real estate professionals with NJ TRANSIT’S real estate team to discuss upcoming transit-oriented development (TOD), retail, and leasing opportunities.
The initiative is a central part of The LAND Plan (Leveraging Assets for Non-farebox Dollars), a 30-year roadmap launched six months ago. By activating portions of its 8,000-acre real estate portfolio, NJ TRANSIT aims to generate:
- $1.9 billion in direct non-farebox revenue for the agency.
- $14 billion in broader economic impact for the State of New Jersey.
- $1.6 billion in new tax revenue for local municipalities.
“Transit-oriented development is one of the most effective tools we have to tackle our housing shortage, reduce congestion and air pollution, and lower costs for families,” Gov. Mikie Sherrill said.
The plan isn’t just about the agency’s bottom line; it’s a massive play for New Jersey’s housing market. NJ TRANSIT President & CEO Kris Kolluri noted the potential to support up to 20,000 new housing units across the state.
“Hosting this open house allows us to showcase opportunities from the most comprehensive inventory of NJ TRANSIT-owned land ever assembled,” Kolluri said.
Local leaders from across the state have signaled their support, with upcoming projects and feasibility studies already identified in:
- Jersey City & Union City: Focusing on affordable housing and urban density.
- Hoboken: Continuing the “Hoboken Connect” transformation of the historic terminal area.
- Pennsauken & Princeton Junction: Exploring smart growth and transit access improvements.
- Bayonne: Identifying underutilized assets for retail and residential mix.
The event will feature remarks from Kolluri and Gagandeep Singh, Senior Vice President of Real Estate Development and Planning. Attendees will also hear from municipal leaders, including Jersey City Deputy Mayor Keshav Poddar, regarding local partnership opportunities.
- Date: April 21, 2026
- Time: 9:00 a.m. (Doors open at 8:30 a.m.)
- Location: NJ TRANSIT Headquarters, Board Room, Newark
- Register HERE
Beyond formal presentations, the agency plans to solicit informal market input from developers to help shape future offerings. The goal, according to Union City Mayor and State Senator Brian Stack, is to create a sustainable revenue stream that can “mitigate the need for future fare hikes.”
