■ Hospitality and Tourism
Continued From Page 16 waterfront development and real estate markets is hardly noticeable . Coastal communities have recently built or rebuilt thousands of houses , hotel rooms and retail spaces in flood-prone areas putting homeowners , renters , and investors in danger of steep personal and financial losses in the years ahead .
But there could be a dark side : A New Jersey government report on the state ’ s coastal development contends that between 2010 and 2017 over 4,500 new homes , valued at approximately $ 4.61 billion , were built in coastal areas at risk for flooding . This development occurred at a rate three times higher than development in safer areas . Many environmentalists were hoping that Sandy would cause retreat from the coast . The opposite is true . Housing in the storm-battered flood plains was not only replaced , but bigger and more expensive units were added .
In New Jersey ’ s beach towns , there are two sets of data that always seem to be rising : property values and sea levels . Neither phenomenon is particularly subtle , and eventually their trajectories will collide . But no one buying property seems to think it will happen today — or maybe ever .
Pier Village Visitor ' s Center
Long Branch has become a year-round destination for the discriminating vacation property buyer .
Photo : Lynne Mullan Photo : Lynne Mullan
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