Manager, Transit Oriented Development

NJ Transit

Newark, NJ 07188

Posted 1 month ago

Job Description

Manager, Transit Oriented Development


Principal Accountabilities:

+ Researches, analyzes and formulates recommendations concerning the utilization, economic potential and market-worthiness of various vacant and/or underutilized facilities and real property holdings to serve as the basis for setting expectations and priorities for Transit Oriented Development initiatives including leasing, adaptive reuse, joint development, public-private partnerships or sale of NJ TRANSIT properties.

+ Develops recommendations on how best to market various facilities and real property holdings based on desired uses and priorities.

+ Assists in evaluating project feasibility. Performs financial analysis to support recommendations on project opportunities as required. Performs financial analysis scenarios (Pro-Forma, Net Present Value, rent vs. buy scenarios, review and advise on appraisal reports). Manages formal solicitations, proposal reviews and related efforts to market properties for lease, development or sale and parking lot operations.

+ Develops criteria for formal competitive Request for Proposals/Qualification (RFP/Q). Responsible for generating interest and marketing of the RFP/Q’s.

+ Oversees real estate project management interactions with governmental agencies, NJ TRANSIT planning and operating divisions, and private sector developers. Coordinates project transaction negotiations and reconciliation of issues affecting development of NJ TRANSIT properties.

+ Coordinates the public and/or private sector financing process for NJ TRANSIT property development projects as applicable.

+ Recommends price, terms and conditions for the disposition of property. Assists in drafting leases, property conveyance documents, easements, developer agreements, access agreements and deeds. Assists in the preparation of memorandums of understanding, letters of interest and related correspondence, as applicable.

+ Coordinates, facilitates and/or manages business and financial transactions, lease/contract/ documentation development, communications and follow-ups with multi-disciplinary teams and internal and external stakeholders to ensure that strategies and plans are carried out to achieve the advantageous lease, development or sale of NJ TRANSIT properties.

+ Manages implementation of priority Transit Oriented Development projects.

+ Works in conjunction with NJ TRANSIT Public Information office, Project Management, Environmental and other internal departments and external partners, such as Municipal Planning Departments, redevelopment agencies and local governing bodies.

Knowledge and Skills Required:

+ Baccalaureate Degree in Business Administration, Real Estate, Urban Planning, Finance or equivalent, or related area.

+ Minimum of four (4) years of experience in land use planning and real estate development with exposure to business, financial and technical subjects.

+ Knowledge of statutory and regulatory rules governing NJ redevelopment and best practices in Transit Oriented Development, a plus.

+ Applied experience with public and private project financing, leases, property transactions, and/or financial models and advanced degree in Real Estate or Urban Planning desired.

+ Advanced degree may substitute for minimum experience required.

At NJ Transit, you will enjoy a competitive salary and excellent benefit package:

+ Comprehensive Family Health Insurance – Prescription, Dental, Vision

+ Flexible Spending Account

+ Life Insurance

+ Paid Leave

+ 401(a), 401(k)?Retirement Plans - up to 9% employer contribution

+ Tuition Assistance

+ Qualified Transportation Expense Plan (QTE)

At NJ TRANSIT we support and depend upon the diversity of our staff. NJ TRANSIT is an Equal Opportunity Employer.

Job Details



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