1 minute read
New Jersey’s funding incentives
from Unlocking Housing Access: Transit Oriented Development and the New York Housing Compact
by Nyhc2020
Transit Village Initiative – incentive for housing type
The New Jersey Department of Transportation (NJDOT) and New Jersey Transit administer the Transit Village Initiative, an incentive program for municipalities to plan and redevelop areas around transit stations using TOD standards.
• Communities create a TOD plan that satisfies Transit Village Initiative criteria, which gives the community access to staff assistance and funding opportunities
• Criteria are not density-specific, but require “transit-supportive architectural design and parking regulation” and include affordable housing
• There are currently 34 designated Transit Villages, including Morristown, Newark, Rutherford, South Amboy, and South Orange
Sources: NJ.com, New Jersey Department of Transportation
