Cedar Cove, Inc. v. Stanzione

In 1935 the Borough of South Toms River (“Borough”) acquired an undeveloped tract of land from the State. The deed contains no restrictions on the property’s use. The tract, commonly known as Mathis Plaza, consists of four lots that are numbered 1 through 4 on the Borough’s tax map.

For the last forty years, lots 2 and 4 of Mathis Plaza have been continually leased for commercial purposes. Lots 1 and 3 remained virtually vacant. Lot 3, the lot in issue, is situated between the commercially-used lots, 2 and 4. From 1961, if not earlier, the Borough has continually sought to develop lot 3 for…