New Jersey Future’s Peter Kasabach Provides Four Recommendations for “Smart Growth” in the Garden State

JERSEY CITY, NJ -- "Smart Growth" is a term the organization New Jersey Future uses to denote development that incorporates the environment, equity and the economy to achieve a better triple-bottom line. At CapRE’s New Jersey Forecast in January, we welcomed Peter Kasabach, the Executive Director of New Jersey Future to take the floor and provide four key recommendations for the New Jersey Commercial Real Estate industry to move forward in a "smart" way. "How many of you have worked with New Jersey transit before? " asked Kasabach to the gathering of a few hundred people. "Okay, a couple. Well. NJ Transit, five of six years ago, I would have said all that they do is run trains and busses. Now I can’t even say I’m sure they do that. But they really don’t do much more than that." However, according to Kasabach, there are transit agencies around the country that have taken that next step of going beyond just running their transit system, and recognized that their transit system forms a spine for real estate development. "And so they become active participants in the real estate development process, using their own assets, like parking lots, to be redeveloped into mixed use developments," he explained. "What we’re advocating for is that New Jersey Transit develop a transit-oriented real estate office within its shop so that it can interact with developer and municipal officials to advance these projects at a much…