Carmen Taveras, chief of real estate, economic development and transit-oriented development for NJ TRANSIT

NEWARK, NJ—NJ TRANSIT announced on Tuesday the hiring of Carmen Taveras in the newly created role of chief of real estate, economic development and transit-oriented development.

Taveras comes to the agency after serving as an executive with Wereldhave USA, a subsidiary of a European-based public real estate investment trust Wereldhave, effective on Nov. 18.

"NJ TRANSIT is proud to welcome Carmen Taveras as the agency's first Chief of Real Estate, Economic Development and Transit Oriented Development," says NJ TRANSIT president and CEO Kevin Corbett. "Carmen brings a wealth of experience to the job and will be a huge asset in our vision to more aggressively use TOD to develop under-utilized properties around transit, optimize the value of assets across the state, and generate additional non-farebox revenue, which will ultimately benefit our customers."

The NJ TRANSIT office of real estate, economic development and transit-oriented development will assess and develop recommendations for transit-oriented development opportunities for parcels of property in which NJ TRANSIT holds an interest in, with the goal of increasing NJ TRANSIT's non-farebox revenue.

Taveras has more than 20 years of diverse real estate experience managing real estate portfolios and land development across U.S. market sectors and asset class. While at Wereldhave USA, her responsibilities included managing a large staff of direct and indirect personnel; developing and executing the operating and investment strategy for the U.S. portfolio and leading acquisitions, ground-up construction and property valuations. Additionally, she chaired the Wereldhave USA Board of Directors for seven years.

During her career at Wereldhave, her notable transactions included the sale of 20 Exchange Place, a 56-story office tower in New York City's Financial District and the development of 120-acres of raw land in San Antonio. There, she worked closely with the local community, government authorities and Department of Transportation to achieve a master plan for a 1.8 million-square-foot sustainable, mixed-use project costing approximately $500 million.

Instant Insights /

NJ TRANSIT Hires First Chief of Real Estate, Eco Development

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