Today, the New Jersey Supreme Court issued a decision (
PDF) in
Mount Laurel Township v. MiPro Homes critical to the real estate development community, municipal government, and ultimately all of the citizens of the State of New Jersey. The decision authorizes ambush or pretense acquisitions of housing for families with school children and other uses deemed to be politically or economically undesirable. Given that real estate investment, housing, and commercial development are the backbone of the economy, this decision will reverberate through the halls of the legislature and at every kitchen table in New Jersey. The State has not planned for the social and economic fallout from this decision, including the likelihood that the State's attempt to get out of the tax and financial morass that exists will be further challenged as real estate investment opportunities are minimized and lost.
For more information see our media advisory on this decision
here.
Read and listen about the history of the
Mt. Laurel v. MiPro case
here,
here,
here and
here (podcast).
You can read Stark & Stark's press release on the
Mt. Laurel decision, which includes audio clips of
Gary Forshner discussing the decision's impact
here.
Technorati Tags: New Jersey : MiPro : Eminent Domain : Open Space
