to
Update
is a Borough in Monmouth County, New Jersey incorporated in 1908. As of the United States 2000 Census, the borough had a population of 11,844.
Red Bank was originally formed as a Town on March 17, 1870, from portions of Shrewsbury Township. On February 14, 1879, Red Bank became Shrewsbury City, a portion of Shrewsbury Township, but this only lasted until May 15, 1879, when Red Bank regained its independence. On March 10, 1908, Red Bank was formed as a borough by an Act of the New Jersey Legislature and was set off from Shrewsbury Township.
Originally part of "Shrewsbury Towne", Red Bank was named in 1736, "when Thomas Morford sold Joseph French 'a lot of over three acres (12,000 m
) on the west side of the highway that goes to the red bank.' Borough of Red Bank, History ,
. Red Bank was settled in the 17th century, but was not populous until approximately 1809. By 1844, Red Bank had become a commercial center, focused on textiles, fur, tanning, and manufacturing goods for sale in Manhattan. With the dredging of the Navesink River, about 1845, Red Bank became a port from which steamboats transported commuters to Manhattan. Red Bank grew in size as a result of this and the laying of rails in the town by the Raritan and Delaware Bay Railroad, about 1860.
During the 20th century, Red Bank was a strong cultural, economic, and political center in Monmouth County, New Jersey, until it was hindered by the economic recession that began in 1987. During this time, Red Bank's economy, based largely on retail commerce, was in decline, due to a real estate scandal, leading local pundits and urban planners to refer to the town as "Dead Bank." Beginning in approximately 1991, under the New Jersey Development and Redevelopment Law, the town authorized the creation of an organization to manage redevelopment in what was designated a Special Improvement District. This organization is known as the Red Bank RiverCenter . RiverCenter retains authority over the management and redevelopment of an agreed-upon "downtown business district."
The downtown district includes Broad Street from the post office to Marine Park and from Maple Avenue to one block east of Broad Street. The district that was originally proposed was much larger. It originally included the commercial areas west of Maple Avenue, including the antique buildings, The Galleria, and Shrewsbury Avenue. However, some property owners in this area were opposed to the idea because they did not want to pay the assessment. Plans for the larger district advanced but opposition became more rigorous. Therefore the proposed district was amended to exclude those who were opposed, and the district that was adopted stops at Maple Avenue.