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Source: Press Release from NJ TRANSIT

LAND Plan Industry Day Provides Forum to Meet Real Estate Team and Learn About Upcoming Transit-Oriented Development and Leasing Opportunities.

NEWARK, NJ – NJ TRANSIT will host an open house networking event on April 21st for real estate developers, commercial real estate professionals and other interested parties to meet its real estate team and subject matter experts, and learn about upcoming transit-oriented development projects, as well as opportunities for leasing and retail.Continue Reading NJ Transit to Hold Open House for Real Estate Opportunities

As seen on: BINJE.com
By: Tom Bergeron

When it comes to public education, public safety and economic development, New Jersey’s cherished tradition of home rule always has led the way.

Is it time for that to change?

The recently introduced LAND Plan, in which NJ Transit aims to develop (or redevelop) around train stations in an effort to raise necessary funds for public transportation as well as spurring economic development in towns across the state, may put that to the test.

So said Ted Zangari, the longtime chair of the Real Estate Group at Sills Cummis & Gross in Newark.Continue Reading Redevelopment Redo: Is It Time to Reduce Influence of Home Rule?

As seen on: BINJE.com
By: Tom Bergeron

In a concept that could make NJ Transit more of a financial asset than a liability, the agency released an 8-page plan Wednesday that it says provides a roadmap for up to $1.9 billion in potential non-farebox revenue over the next 30 years.

The plan, which aims to unlock value from its 8,000-acre real estate portfolio, could add up to $14 billion in economic impact to New Jersey, up to an additional $1.6 billion in municipal revenues, and create up to 50,000 jobs and up to 20,000 new housing units.Continue Reading How NJ Transit Feels It Can Generate $1.9 Billion in Non-Fare Revenue in Next 30 Years

Repost of News Flash from New Jersey State League of Municipalities (NJLM.org)

The Division of Local Government Services recently issued Local Finance Notice 2025-12 providing guidance on recently enacted legislation regarding Payment-in-Lieu of Taxes (PILOTs).  P.L. 2025, c.91, was signed by Governor Murphy on July 8 and becomes effective on October 1, 2025. The new legislation amends the Long-Term Tax Exemption Law to strengthen counties’ ability to collect their 5% share of a Long-Term PILOT annual service charge (5% county portion). The new law requires municipal tax collectors or chief financial officer who obtain payments-in-lieu-of-taxes under “Long Term Exemption Law” to transmit county portion directly to the county. The new law only applies to annual service charges received on or after October 1, 2025. Continue Reading DLGS Issues Local Finance Notice on Recently Enacted PILOT Law

As seen on: The Weekender Brief (NAIOP NJ)

Acting Governor Nicholas P. Scutari yesterday signed into law the New Jersey Design Professional Self-Certification Act (S3402/A4350). Championed by NAIOP NJ, the new law will help streamline approvals and advance development and redevelopment projects.Continue Reading Plan Review Bill Becomes Law