Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CARTERET, NJ-Many New Jerseyans identify themselves geographically with the closest exit of the New Jersey Turnpike, and folks here and in adjacent Linden, NJ have long identified themselves with the most congested Turnpike exit of all-Exit 12. The interchange’s lack of capacity and resulting congestion have been putting a damper on development in the two communities, according to state and local officials.

That’s about to change, although it could be as much as five years for people to see much of a difference. That’s how long it will likely take the New Jersey Turnpike Authority, with the support of the NJ DOT, to complete a $130 million overhaul and expansion of the interchange. The project will add a new system of ramps and a doubling of the number of toll collection lanes.

“This project will lead to almost $1.5 billion in reinvestment in Carteret,” Mayor Daniel Reiman predicted at a recent news conference at which the project was introduced. State and Turnpike officials offered similar projections.

Adjacent land is mostly used for industrial purposes, and truck traffic on local streets has long been a problem. Indeed, the interchange project has been in the works since the early 1990s, according to state and local officials.

For the Turnpike Authority, which runs the toll road, the funding for the project will come from its capital improvements budget. The Authority, which is in the process of merging with the New Jersey Highway Authority, the agency that operates the Garden State Parkway, has motorist toll collections as its primary source of funding.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.