High-rises sought at Magyar Savings site.

Publication: Home News Tribune (East Brunswick, New Jersey) (via Knight-Ridder/Tribune Business News)

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COPYRIGHT 2005 Home News Tribune

Byline: Kathleen G. Sutcliffe

Mar. 1--NEW BRUNSWICK, N.J. -- Two high-rise buildings and a parking deck are planned for the Magyar Savings Bank site on French Street, city officials announced yesterday.

Lavallette-based AST Development Corp. was named by the city's Housing Authority as the redeveloper of the 1.3-acre block between Somerset, Plum, French and Prospect streets.

In addition to the bank, the site is occupied by a Robert Wood Johnson University Hospital parking lot, the Chadras Restaurant, and at least three homes.

Plans for the $67...

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