Shortly into the new millennium, the future looked hopeful for Perth Amboy, N.J., a city on Raritan Bay a skipping stone’s throw from Staten Island. As part of a larger revitalization plan, the town’s mayor at the time, Joseph Vas, promised a $600 million development at the water’s edge, with 2,200 housing units, shops, a hotel and high-speed ferry service to New York.

But then the economy tanked. The developer, Kushner Companies, constructed only two buildings, with fewer than 200 housing units altogether. And the …read more

Source: New York Times

(Visited 10 times, 1 visits today)