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.
April 26, 2011, 10am PDT | Tim Halbur
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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

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Published on Tuesday, April 26, 2011 in New Urban Network
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