Potential TOD sites in Jersey may be unavailable for decades
Smart growth proponents are fighting a state transit agency plan that would lease out dozens of parking facilities to private operators for 30 to 50 years.
As governments fall into deep financial difficulty, public agencies increasingly are leasing out or selling off properties — mostly to collect revenue that can quickly bolster their ailing budgets.
In New Jersey, however, a proposal to lease out parking facilities at train and bus stations is encountering strong opposition from people who fear it would make many of those lots unavailable for transit-oriented development (TOD) for 30 to 50 years.
Last fall, New Jersey Transit, the nation’s third-largest provider of bus, rail, and light-rail transportation, announced that it would explore the possibility of leasing parking facilities at 81 of its busiest stations to private operators.
As many as 37,165 parking spaces across the state could be put into private hands. NJ Transit Executive Director James Weinstein suggested that the deal could reap $100 million or more for the agency in 2011, plus additional payments in future years.
NJ Transit, which provides service to 5,325 of the state’s 8,722 square miles, issued a request for qualifications in October. Of the ten companies that expressed interest in running the parking lots and garages, seven have met
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