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10/20/2025
New Jersey Transit last week unveiled its "Leveraging Assets for Nonfarebox Dollars" (LAND) plan, a comprehensive study of real estate opportunities that could generate nearly $2 billion in nonfare revenue over the next 30 years.
The LAND plan will serve as a guide for future land development on NJ Transit's existing 8,000-acre real estate portfolio, NJ Transit officials said in a press release. The transit agency found that it could generate $1.9 billion in nonfare revenue for itself, $14 billion in economic impact to the state and $1.6 billion in revenue to local municipalities where projects are located. The proposed projects could also create up to 50,000 jobs and 20,000 new housing units, according to the plan.
The LAND plan suggests opportunities such as transit-oriented development, industrial warehousing and production hub development, event or pop-up spaces, retail concessions, advertising and parking lots. The plan also proposes wetland banking and solar power as potential revenue makers. The New Jersey Department of Environmental Protection would pay NJ Transit ecological credits for restoring or preserving wetlands. These credits can be sold or traded, or used to offset environmental damage from other developments. Solar power development would offset the cost of nonrenewable energy costs.
The revenue generated through land leasing and sales would provide NJ Transit with a reliable source of funding to continue delivering passenger-rail service, NJ Transit officials said. NJ Transit would partner with private real estate developers for the proposed housing and industrial developments.
The LAND plan briefing document can be read here.