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AB MONMOUTH LLC PROPOSES EXTENDED-STAY HOTEL FOR WALL, N.J.

WALL, N.J. — AB Monmouth LLC, a wholly owned subsidiary of Amboy Bank, has proposed constructing an extended-stay hotel at the unfinished The Monmouth site, located at the intersection of routes 70 and 35 in Wall. The planned hotel will offer 199 guest units for short- or long-term guest. Originally designed by a previous developer as a 4,000-square-foot age-restricted community of condominiums, The Monmouth site has remained been half-built since 2011. AB Monmouth cannot sustain the undeveloped site indefinitely, and the company believes an extended-stay hotel is the best option for the property.

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