Red Bank plans for huge apartment complex and retail space

To say New Jersey could use more housing is an understatement. Lack of inventory, as real estate experts phrase it, is causing a seller’s market to continue and sky-high rental prices as well.

It may be a drop in the bucket for the state as a whole but a redevelopment plan being considered could be huge for Red Bank.

The Red Bank Borough Planning Board recently held a public hearing on a plan to create two apartment buildings, five and six stories tall, around their NJ Transit center.

A mixed-use complex containing up to 400 living units in north and south structures. Eighty of those units would be dedicated to low-income housing. Planners envision decorative walkways, seating areas, public art, cafés, and food kiosks in a park-like setting and 60,000 square feet of commercial space. Restaurants and bars, banks, childcare centers, and an urgent care are all being talked about. A true community within a community, very walkable and very close to the NJ Transit center, by building it all on existing parking lots.

At the meeting, residents were divided. Concerns were raised about congestion and increased traffic. Others supported the idea, saying Red Bank needed the affordable housing. So a vote was postponed to Thursday, April 23.

The Red Bank train station, built in 1876, is historic. It’s listed on both the National and State Registers of Historic Places. But any concern of the development ruining what had already been addressed, with assurances that nothing of the kind would occur.

If the Red Bank Planning Board gives a thumbs up to the initiative this week, it would still have to be voted on by the borough council. So it's a big stay tuned for the Monmouth County town of less than 13,000 people.

Opinions expressed in the post above are those of New Jersey 101.5 talk show host Jeff Deminski only.

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