What's Happening in Red Bank, NJ…

A tract of four acres on Broad Street in Red Bank that was once the home of a bank is under contract to be sold. Officials from the borough are saying that a developer is looking to build townhomes on the site.

303 Broad Street Associates LLC, a company based in Danville, entered into a contract to purchase the properties on the corner of Broad Street and East Bergan Place. These properties include two parking lots and a Colonial Revival structure that is 60 years old and once housed Wells Fargo bank. The bank was built in 1965 and became home to several industrial companies.

Although no permits or applications for development have been filed, there is an indication of the potential plan on the Borough of Red Bank Fair Share Housing Plan that the state received in July. The plan reads that a developer has created a concept plan that would build a development of stacked dwelling units and town homes. Twenty percent of the units will be set aside as affordable units.
Development sites often turn to banner printing to inform residents of projects under consideration.

A rezoning of the site would be required for the proposal to move forward. The project is currently being vetted by the borough and is considering the suitability and feasibility of new multi-family housing on the site.