Transit-Oriented and Joint Development: Case Studies and Legal Issues (2011) / Chapter Skim
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VI. CONCLUSIONS
VI. CONCLUSIONS
Pages 34-36
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From page 34... ...
"New Jersey Transit will receive at least $230,000 a year in rent plus additional rent from retail properties, parking proceeds, and a percentage of the residential income," according to NJ Transit.289 Development of the Highlands has not been without delay. According to the local press, the 2008 ground 286 Next Stop: Transit Villages, BUSINESS NEWS, at 28 (Oct.
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From page 35... ...
Because the inclusion of these design features imposes extraordinary financial burdens on the development project and to ensure the project retains these features for at least thirty (30) years, this Agreement provides for the acquisition and recording of a TOD/Urban Centers Easement.294 TCRP LRD 12 concludes with the assessment that TOD is a promising concept that, with proper attention to important legal principles, can be effectively pursued "to bolster transit ridership while producing affordable housing and economic development opportunities." Collectively, the body of laws, programs, case law, and case studies reviewed in this digest confirm TRCP LRD 12's assessment and demonstrate more completely how the promised benefits of TOD/TJD can be realized.
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