A Parking Lot is a Terrible Thing to Waste

Smart growth proponents are fighting a New Jersey transit agency plan that would lease out dozens of parking facilities to private operators for 30 to 50 years.

Philip Langdon reports that 37,000 parking spaces across New Jersey could be privatized:

"NJ Transit Executive Director James Weinstein suggested that the deal could reap $100 million or more for the agency in 2011, plus additional payments in future years.

NJ Transit, which provides service to 5,325 of the state's 8,722 square miles, issued a request for qualifications in October. Of the ten companies that expressed interest in running the parking lots and garages, seven have met the conditions to pursue a deal. This summer the transit agency expects to take the next major step: issuing a formal request for proposals. If all goes smoothly, a contract could be awarded this fall."

Langdon notes that Boston, Mass. is considering a similar privatization plan.

Thanks to Robert Steuteville

Full Story: Potential TOD sites in Jersey may be unavailable for decades

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