New Jersey Future Creates Database of Development Assets Near Transit Facilities
TRENTON, Sept. 24, 2012 – New Jersey Future today announced it has assembled a comprehensive database of development-related statistics for the state’s 243 transit stations and their surrounding neighborhoods. Searchable by data element, by station or municipality, or by ranking, the database is intended to provide policy makers, municipal officials and development professionals with a straightforward way to identify the highest-potential opportunities for various kinds of development around transit stations.
The accompanying report, Targeting Transit: Assessing Development Around New Jersey’s Transit Stations, written by New Jersey Future Research Director Tim Evans, describes the data included in the database, what it reveals about development patterns near the state’s train and bus stations, and how it might be used in the decision-making process.
“This is the first time that information from so many sources has been standardized and assembled in one place, so that a comprehensive profile of each station can be produced and a broad analysis of various kinds of opportunities can be done,” said New Jersey Future Executive Director Peter Kasabach. “Our hope is that this database will offer officials at all levels the information they need to make good decisions, about everything from local zoning and housing densities to how best to direct state incentives for job creation. In addition,” he added, “real estate professionals will find this a useful tool for identifying the most promising sites for various kinds of transit-oriented development.”
Among the information included in the database are statistics on how many transit lines serve a station; travel times and transfers needed to reach major destinations; parking availability and utilization; housing and population descriptors, such as income and automobile ownership, for the neighborhood immediately surrounding each station; and employment statistics for the surrounding municipality. By using these data it is possible to distinguish between station areas that are better suited for residentially-focused development and stations that should be targeted for employment growth, and to identify stations where market conditions might make state incentives such as Transit Village designation an appropriate catalyst for private-sector investment.
The report is available as a free download, along with a data dictionary describing the items contained in the database. New Jersey Future is also making available customized reports from the database. Organizational members are entitled to a standardized report at no charge. View samples of customized reports online, or for more information please contact Director of Communications Elaine Clisham (eclishamnjfutureorg?subject=Transit%20Station%20Reports) .
For more examples of how the data can be used, please see New Jersey Future’s presentation on the subject at its Redevelopment Forum. New Jersey Future will also be scheduling a web-based orientation to the data; please visit the New Jersey Future website to be notified when it is scheduled.