WILL THE NJ RULE AFFECT EMINENT DOMAIN NATIONALLY?
Jim Ettelson is a partner in the corporate and real estate practice of Thorp, Reed & Armstrong. He is based in Philadelphia.
The bulk (57%) of respondents to last week's Feedback Poll don't like the scent in the wind since New Jersey's recent ruling limiting eminent domain. As Eric Peterson reported, the Court drew the line at takings because a parcel was "underutilized." While the majority is convinced that, as the question was posed, the industry will pay in the long run, 43% believe it's an isolated incident. Commentator Ettelson doesn't buy into that theory. He says there's going to be dialog on a national basis--and the ruling could help both sides of the issue. Here's why:
"I don't know what impact the ruling will have nationally, but it's another piece of the discussion that will go on--on both sides of the issue.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
