Thursday, July 14, 2005

Eminent Domain in Long Branch

The councilman's quotes further on down in the story brings up a pretty good point. When the seizure process began 6 or 8 years ago, that section of Long Branch had little going for it, due in part to "normal" housing prices. Now that we are in the midst of a housing bubble, it doesn't appear that those that are being forced to sell are able to participate to the fullest extent in the high bubble prices.

"LONG BRANCH — City officials authorized the use of eminent domain to acquire 15 properties for the second phase of Pier Village but acknowledged widespread use of the process may not be necessary to close the deals.

City Attorney James G. Aaron said Hoboken-based Applied Development, which is now completing the first phase of the residential and commercial project on the oceanfront, is in negotiations with all but two of the property owners. The project is rising between Laird Street and Morris Avenue."



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