Asbury Park New Jersey Resort Stops Eminent Domain Take Over : The Real Estate Bloggers

Asbury Park New Jersey Resort Stops Eminent Domain Take Over

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The light of day is all that is needed to stop eminent domain abuses. In Asbury Park, New Jersey a development company wanted the city to condemn a property to build their resort through eminent domain. Instead of offering a dollar figure that the homeowner would bite on, or recognizing the rights of the homeowner to his land, the developer and government thought they could use the power of the state to remove a person from their land.

However, with the attention that is being shown by the media and the American people, developers are recognizing that using the states power to take land for their projects is not the best way to move forward, they are reworking the projects or paying the right amount to the homeowners. This is a great example.

Now Tiburon wants to enter into a joint venture for the hotel/campus zone with Orr Partners-Op LLC. This would enable the hotel to refinance the property and will result in a redevelopment plan without the need for any further eminent domain proceedings or property acquisition, according to the resolution.
However, the plan could ultimately use land from Abbottsford Avenue in the project. In 2004, the city bonded an additional $1 million to acquire nearly 4 acres adjacent to the Ocean Place in the hotel/campus zone. However, the money also could be used to acquire property in the other oceanfront zones, Mayor Adam Schneider has said.
The hotel/campus zone, one of six redevelopment zones in the city, surrounds the conference center between Madison Avenue and Laird Street. The city wants the land for potential use as retail or office space, construction of structured parking or a smaller hotel or convention center, Council President Anthony Giordano has said. via Asbury Park Press Online.

Related posts:
  1. The True Eminent Domain Battle Ground - New Jersey
  2. Baltimore Uses Eminent Domain to Take 1,001 Properties Since 2001
  3. Georgia Governor Calls For Eminent Domain Constitutional Amendment
  4. Eminent Domain Research in New Jersey or Can We Bury This in Committee?
  5. Georgia Legislature Works to Restrict Eminent Domain

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