Brokers and Brokerage

Business Brokerage It is a train that is pulling a heavy load of strong, conflicting opinions about its past and its future.

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Forex Broker Some say it will be a convenient, inexpensive transportation option that will be good not only for commuters, but for the economic revival of the towns and cities along its route.

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Online Brokerage Others say it will be an empty vehicle representing pork-barrel politics and wasteful government spending at a cost to state taxpayers of $1.1 billion.

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Real Estate Broker Where will it eventually end up? Supporters, critics and transportation experts can guess, but only time will tell.

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Agency Brokerage Spark Boondoggle or not, necessary mass-transportation option or not, like it or not, one thing is for sure: The River Line, a new light-rail system operated by NJ Transit, is coming to Burlington County.

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Business Broker What can the public expect when the white diesel trains trimmed in blue and gold begin pulling into the stations that dot the 34 miles of track between Camden and Trenton next Sunday?

Brokerage Account The majority opinion among transportation, economic and planning experts is that the River Line could turn out to be something between a boon and a boondoggle. Most predicted that the line will initially attract few passengers but eventually grow to become a moderate success both as a means of mass transportation and economic development.

Stock Broker The downside, some said, is that the ridership and business growth will likely take years, possibly decades, and may never justify the project's hefty price tag.

Brokerage Online Stock Trading The experts see some shortcomings that could prove particularly difficult to overcome, among them the absence of a one-seat ride from the light-rail stations into Philadelphia or onto NJ Transit's Northeast Corridor service to New York City. That means riders will have to get off the River Line in Cam-den or Trenton and buy a second ticket to ride another rail system to reach either of those major destinations.

Broker Justin Ticket Two other drawbacks, experts said, is that the line stops about a mile short of the Statehouse complex in Trenton, and it must end service to most stops at 9 p.m. on weekdays and Sunday to make way for freight trains.

Real Estate Brokerage Ridership and revenue

Commodity Broker According to NJ Transit's latest estimates, about 2,850 riders will make a total of about 5,700 paid trips on the River Line each day during its first year. That's about 40 percent fewer trips than estimated by NJ Transit in 1997 shortly after the rail project was approved.

Brokerage House The number of daily fares is expected to increase to about 8,500 by 2006 and 9,100 by 2013, NJ Transit officials said. Between 60 and 70 percent of the riders will use the service to get to work, rather than for leisure travelers, NJ Transit officials said.

Real Estate Broker Exam NJ Transit expects the River Line to generate about $1.45 million in revenue during its inaugural year - only about 7 percent of its annual operating expenses. That percentage - called the fare-box return - ranks well below the national average of about 45 percent for rail systems and 29 percent for light rail.

Brokerage Services "It's mass transit without the masses," said longtime light-rail critic Ran-dall Stevens of Delran.

Broker Live Ticket "It's not going to lighten congestion on the roads one bit. It's simply a waste of taxpayer money."

Online Brokerage Firm Supporters said that among the possible routes considered in the mid-1990s for a light-rail line, the Camden-to-Trenton route was the most attractive for commuters interested in going to New York. More importantly, they also predict the River Line will help spur redevelopment in the river towns and provide mobility for handicapped people, elderly residents and children.

Security Broker Dealer "If you just look at the fare-box return, then you're missing the big picture," said Herbert Gislick, professor of economics at Rider University in Lawrenceville. "It's a social investment that very well could provide a net stream of benefits down the road."

Coldwell Banker Residential George Warrington, executive director of NJ Transit, agreed with Gislick's assessment. Warrington described the River Line as a "premature investment" that could become a big success if more development occurs around the line's stations.

Freight Broker "I compare it to Metropark (train station in Middlesex County)," Warrington said. "We spent a lot of money on that station and heard a lot of criticism. At the time, everything around it was farmland, but there was tremendous growth and development there, and today it's one of our most successful stations."

Freight Brokerage High stakes

Broker Lie Ticket Much is at stake, given the River Line's $1.1 billion cost, and Burlington County - home of 11 of the line's 20 stations - will play a key role in the system's success or failure.

4th Boost Brokerage By The Burlington County Board of Freeholders plans to link BurLink shuttle-bus routes from rail stations to large job sites, apartment complexes and shopping hot spots in the county. The county Office of Economic Development and NJ Transit will also give towns along the line planning assistance to help them woo businesses and new residential developments that the rail line needs in order to thrive.

Florida Mortgage Broker "The rail is here, and it will be a positive," said Freeholder Jim Wujcik, the county's director of economic development. "This board is committed to doing everything we can to make it successful. It's going to happen; people need to get on the train."

Insurance Brokerage Figuratively, some people began getting on the train in the early 1990s when the late Republican state Sen. C. William Haines, a Mount Laurel resident who was then head of the state transportation committee, pushed for a new South Jersey rail system.

Online Broker The first routes under consideration were from Camden to Glassboro through Gloucester County, from Cherry Hill to Burlington Township along Interstate 295, and from Camden to Mount Holly through central Burlington County.

Brokerage Company Given the amount of traffic on Interstate 295 and Route 38, experts predicted that either of those routes would easily attract thousands of riders daily. Residents along the proposed Gloucester and Camden-Mount Holly routes fought the plans, expressing concerns about safety, noise and crime. The Cherry Hill-to-Burlington Township line was scuttled because officials thought it would be too expensive.

Broker Lonely Ticket In the face of the opposition, Haines and other South Jersey leaders turned to a route from Camden to Trenton. They said a line through the towns along the Delaware River would be a boon to Burlington County's newly formed Route 130 redevelopment initiative.

Commodity Brokerage A 45-day study by two engineering firms predicted the Camden-to-Trenton route would not attract as many riders as the other proposed paths but would still be a viable mass-transit option and would be cheaper to build.

New York Ticket Broker The GOP-dominated Burlington County Board of Freeholders endorsed the Camden-to-Trenton route. In November 1996, NJ Transit's board of directors approved construction of the rail line on existing track used by Conrail. Frank Wilson, the state transportation commissioner and head of NJ Transit at the time, abstained from the vote. A short while later, Wilson left his posts in New Jersey to take a job with one of the engineering companies that had declared the river route feasible.

Prime Brokerage No lack of criticism

Real Estate Agent Broker Critics claim the study supporting the Camden-to-Trenton route was rushed and that Haines and other politicians pressured NJ Transit to select the river route in order to provide South Jersey with a lucrative public transportation project. Unlike the other routes considered, the river line won't relieve any traffic congestion, they say.

Yacht Brokerage They point to the lack of federal funding - often deemed a necessity for multimillion dollar transportation projects - that they claim was not sought in order to avoid lengthy federal review and oversight that might have blocked the project.

Trucking Broker "It was pork, plain and simple," said James Dunn, professor of political science and public policy at Rutgers University's Camden campus. "The fact that there was no federal funding involved proves they knew from the get-go that the project wouldn't pass muster with the feds."

National Brokerage Supporters counter that the river route was the only acceptable option in South Jersey and that the political bashing the route has taken is shortsighted and counterproductive.

Property Broker "Bill Haines viewed the line as a long-term capital investment, and that's exactly what it is," said Assemblywoman Rose Heck, R-38th of Lodi, a member of a bipartisan legislative committee that studied the river route before NJ Transit gave its go-ahead. "The detractors need to stop playing Monday morning quarterback and realize it's a done deal."

Brokerage Commercial Ranking State Sen. Diane Allen, R-7th of Edgewater Park, said the line is a needed transportation alternative.

Mobile Home Broker "If you don't think South Jersey deserves a transportation project, that's one thing, but don't in the same breath say that we never get anything for the tax dollars we invest," Allen said. "We put a lot of money into the Trenton pot, and we deserve to get something out of it."

Brokerage Business The rail line continued to run into controversy and problems after the decision on its location. Residents of towns along the route continued to express fears that the trains would pose a safety risk and increase neighborhood crime and noise. In 1999, the Federal Railroad Administration rejected NJ Transit's plan to mix heavy freight trains and light-rail cars on track at the same time, forcing NJ Transit to agree to end the passenger service at 10 p.m.

Concert Ticket Broker That same year, the Southern New Jersey Light Rail Group - a consortium of contractors led by the California-based construction giant Bechtel Corp. - was awarded the contract to design, construct and operate the line on the existing Conrail track.

Stock Brokerage Firm Major construction on the line began in May 2000. Setbacks followed, including an April 2001 accident in which a new 900-ton steel bridge fell into the Rancocas Creek while it was being installed between Riverside and Delanco.

Customs Broker The cost of the line increased with the delays, and in December 2002, the Southern New Jersey Light Rail Group filed a lawsuit against NJ Transit claiming it was owed more than $100 million in cost overruns. The suit prompted the state Attorney General's Office to initiate an ongoing investigation into the project. Specifics of the probe have not been announced.

Full Service Brokerage The most recent setback occurred last month when NJ Transit pushed back the opening date of the service for the fifth time due to gate malfunctions at rail crossings and the inability to meet a simulated schedule during testing.

Boston Ticket Broker Will it succeed?

Online Brokerage Account Given its rocky past, is success for the line even possible? NJ Transit has not publicly announced any goals for the line, but transportation experts say it is unlikely that the system will attract even a modest number of riders during its initial years of operation.

Discount Broker "People would be tickled pink if it gets 35 percent (fare-box return) after 10 years," said Don Nigro, director of the Delaware Valley Association of Rail Passengers, a chief critic of the Camden-to-Trenton route. "Just reaching the national average for fare-box return (45 percent) would be an overwhelming success."

Customs Brokerage Other experts said they preferred to take a longer view that measures economic impact as well as riders.

Auto Truck Broker "Is it the boondoggle some are making it out to be? Probably not," said Joseph Hacker, senior transit planner with the Delaware Valley Regional Planning Commission. "Is there the potential for it to absolutely fail and no one will ride it? Yes, but we think it's more likely to grow slowly. In essence, it was planned in advance of what development will likely occur."

Forex Brokerage Doug Bowen of the Newark-based New Jersey Association of Rail Passengers was even more optimistic.

Future Broker "Suppose the reasons for putting it here were purely political," Bowen said. "It still doesn't change the fact that this is a good thing that gives Burlington County residents more options to go north to New York or south to Philadelphia and Camden. The critics can look at ridership all they want, but if you don't build it, there will be no riders."

Online Stock Brokerage Other experts said NJ Transit should alter its existing bus routes to support the rail line, keep fares low and schedule the trains so they arrive closely to connecting services to Philadelphia and New York City.

Broker Settlement Structured Extending the line to the Statehouse complex in Trenton and expanding the hours of operations would immediately boost ridership, experts said.

Discount Online Brokerage Warrington said extending the line to the Statehouse would not likely occur anytime soon, but through innovation, he said NJ Transit was able to add late-night service between the Entertainment Center in Camden and the 36th Street Station in Pennsauken on weekdays. On Saturdays, the only day when the River Line does not have to make way for nighttime freight trains, the service will run the entire length of the line until 1:15 a.m.

Food Broker Both River Line supporters and critics applauded the late-night trains, which they said would give travelers the opportunity to go to concerts and sports events in Camden and Trenton or to bars and restaurants near other rail stops and still return home on the line.

Mortgage Brokerage "I think it opens up some real destinations along the line," said Barbara Lawrence, executive director of NJ Future, a smart-growth advocacy group. "People will be able to experiment with the trains a bit and use them to go to an event or dinner and then make it home."

Broker License "The Saturday night trains after an event or concert will be packed," Nigro predicted. "We think it will be a real benefit to the service."

Discount Brokerage Firm Warrington said NJ Transit also plans to concentrate on marketing the line to commuters by making connections to other mass-transit services as hassle-free as possible. The agency recently unveiled a $750,000 marketing campaign to promote the line.

Best Online Brokerage Eventually, Warrington hopes to have a uniform electronic fare-collection system that would allow commuters to purchase one pass for use on the light-rail, the PATCO High Speed Line to and from Philadelphia, and other NJ Transit buses and trains.

Auto Broker Such changes could be costly, and some experts doubt the state is willing to spend more money on a project that's been labeled a boondoggle.

Brokerage Feeling "You're talking about more expenses, and NJ Transit is entering a very difficult financial period," said Martin Robbins, director of the Alan M. Voorhees Transportation Center at Rutgers University's New Brunswick campus.

Transportation Broker Transportation and planning officials agree that the key to getting people on the trains is to first get them to buy homes or locate businesses in the towns along the river.

Truck Brokerage Looking to the future

Interactive Broker The vision of Mark Remsa, Burlington County's director of economic development, and other planners is that the River Line will assist other planning initiatives that are intended to push new development away from central Burlington County and the northern farm belt and into the river corridor.

Cuna Brokerage "Government has a box of tools for economic development and smart growth," Remsa said. "Light rail is simply one of those tools."

Mortgage Broker Licensing Warrington said planning assistance for towns would be a key initiative for NJ Transit. The agency would act as a facilitator to link individual developers with the towns, he said.

Fidelity Brokerage Experts said there is plenty of potential for economic growth in the river towns. Many predicted that existing property values along the line would increase and that pedestrian-friendly villages consisting of both homes and small businesses would pop up around the rail stations.

Broker Dealer Riverside is already looking into creating "commuter villages" - high-density mixed developments consisting of homes, apartments, condominiums, shops and restaurants - around its rail station. Burlington City officials also have high hopes the line will help revitalize their downtown area.

Brokerage Firm Forex Other towns are more skeptical. Riverton has turned its back on one redevelopment project that called for condominiums and apartments, and Palmyra Mayor John Gural vowed that no new residential developments would be welcome there.

Condo Broker "We're a small community that's already built out," Gural said. "I don't know what they think high-density residential will do for Palmyra. This thing needs to work for us like they promised it would. It shouldn't be our job to make the rail line work."

Online Brokerage Services Though the rail line has yet to begin operation, it has already brought business to the corridor, Remsa said. Since the start of construction on the line, between 6.6 million and 8.7 million square feet of new businesses and industry has been built, is under construction or has been planned for construction within walking distance of rail stations or along proposed shuttle routes to and from stations, Remsa said.

Yacht Broker "It amounts to between 3,200 and 5,200 jobs," he said. "You're looking at between $112 million and $180 million in salary that will be contributed to the local economies, and the service hasn't even started yet."

Art Brokerage Even if the line becomes the economic generator that some expect, critics said the line's astronomical price tag still hangs over state taxpayers.

Online Stock Broker According to NJ Transit, the project's $1.1 billion cost includes $476 million for the design and construction of the system, $86.5 billion for land acquisition and $19 million for utilities. NJ Transit will also pay about $19 million a year in operation and maintenance costs for the rail service.

Boat Brokerage The project is being funded through bonds that will be paid for over the next 15 years out of the state's Transportation Trust Fund, a $1.2 billion-a-year pool of money raised through the state's gasoline tax.

Mortgage Broker Dallas The state will pay $48 million a year until 2018 and then $5.6 million in 2019 to pay off the line, officials said. The project has received no federal funding to offset the cost to state taxpayers.

Pyramid Brokerage At that price, some critics argue that the fiscally prudent decision would be shutting the service down before incurring operating costs.

Broker Save Ticket "Don't even start it," said Bill Love, a Medford resident and frequent rail critic. "Let's eat our loss and not lose another $19 million a year in operating costs. Who knows, maybe sometime in the future you can start it up when the corridor is built up more. Right now, it doesn't make any economic sense."

Future Brokerage NJ Transit officials say too much has been invested to pull the plug. Warrington said the agency has at least a 20-year commitment to the line.

Broker Js Ticket Even longtime light-rail opponent Gov. James E. McGreevey has said it's now in the state's best interest to give the River Line a chance.

Top Brokerage Firm "My concern with light rail was that it did not fully incorporate the needs of the community in its design," McGreevey said, "but it's here, and we need to make it work."

Broker Daddy Ticket Supporters predict that the benefits of the line would eventually more than make up for its price tag.

Ash Brokerage "This can dramatically improve the quality of life if people use it to that advantage," Wujcik said. "If the money wasn't spent here, it would have been spent somewhere up north. The reality is that there are people here who need and want public transportation. They deserve this opportunity."

Structured Settlement Broker By David Levinsky
Burlington County Times - 3/7/2004

Topic: Trains

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