The gaming board report later notes that the amount of profit relative to total development costs, inclusive of licensing and reconciliation fees, would be at best result in a 1% or 2% return annually, which is not an acceptable rate of return for a casino developer on a greenfield project.
NJ TRANSIT has identified additional opportunities for similar TOD projects in Bordentown, Bound Brook, Camden, Hoboken, Trenton, and other communities throughout the Garden State.
The 65,000-square-foot store will be located in the first of two towers under development at 60 North 23rd St. by PMC Property Group.
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