NJ Transit and Horizon Blue Cross Blue Shield of New Jersey are launching plans to redevelop their jointly owned properties in Newark, buildings that housed headquarters for each group.

NJ Transit and Horizon are inviting developers to submit ideas about how to redevelop their properties at 1 Penn Plaza East and 3 Penn Plaza East , with a shared parking garage at a valuable location next to Newark Penn Station on the Passaic River.

The two entities see it as a “prime opportunity for premier mixed-use, multi-housing development on three acres,” which could accommodate up to 1,000 units of residential development with possible retail and structured parking, according to a press release NJ Transit issued on Tues., Dec. 2.

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A key part of the redeve

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