Redgate serves as a trusted real estate advisor to New Jersey Transit (NJ Transit), helping the agency unlock value across its real estate portfolio while advancing its public transportation mission. Our work spans transit-oriented development, asset management, redevelopment planning, transaction support, and public-private partnership strategy, providing NJ Transit with the market insight, financial analysis, and implementation guidance needed to make informed decisions about complex real estate initiatives. As an extension of NJ Transit’s team, Redgate advises on opportunities to maximize the value of underutilized assets, generate non-fare revenue, and align development initiatives with operational, financial, and public-sector objectives.
A cornerstone of this partnership is Hoboken Connect, a transformative 1.5 million-square-foot mixed-use redevelopment centered on the historic Hoboken Terminal and Yard. Serving approximately 50,000 daily commuters, the project will deliver new office, residential, retail, hospitality, and public realm improvements while preserving one of the region’s most important multimodal transportation hubs. Redgate led NJ Transit through the evaluation of a proposed public-private partnership, providing market analysis, financial modeling, risk assessment, zoning review, and development strategy that informed negotiation of the Development Management Agreement with private developer LCOR. Our work helped establish a framework that preserves public ownership while leveraging private investment to advance a landmark redevelopment initiative.
Through this ongoing relationship, Redgate continues to support NJ Transit on strategic initiatives across its portfolio, including redevelopment planning efforts at Red Bank Station, helping position the agency’s assets for future growth and long-term value creation.
