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11 Comments
This is going to be tough to do without the right and experienced developer and investors ie retail or real estate. Hoboken was a success due to the shadow of NYC with its bars and restaurants New Brunswick also with its mixed use of Rutgers space, real estate and retail including restaurants. Bear in mind the number of people passing though those areas is significantly greater than Belmar.
Happy Anniversay:
On Feb 20 it will be 3 years since the Mayor & Council unanimously voted Belmar Resolution 2013-66. Designating all of Belmar as an area for Rehabilitation under federal and state rehabilitation law. Exhibit A was missing until many weeks later after the council and planning board approved it I OPRA the missing Exhibit A: Engineers report. Which Paul Calabrese did after the OPRA request and add an additional criteria. Now under redevelopment law, I am not sure you can extend the redevelopment area called Seaport. Seaport had to prove it’s own areas need related to blight. I would trust the people’s attorney on this one knowing that This and the previous mayor both lost landmark redevelopment law suits. Then I can’t help but wonder why rehabilitation would not surfice. The old bait and switch is alive and well however. Last year the reason for the committee was due to outdated elements in the Seaport Area. Suddenly we need to grow the redevelopment area. Which is it. In order to get Seaport approved it had certain characteristics that not even a redevelopment lawyer could stretch to the tracks and the areas around Public Works and Maclearie Park.
A quick check of Monmouth County assessed value of Belmar properties from 2011 thru 2014 show Residential value steady at $890M …. Commercial property value went from $100M to $95M …. a constant downward spiral. Already, there is a glut of better commercial properties in NJ and new successful storefronts are on the internet.
Belmar 2015 Commercial property assessments don’t look good and capitalization of Borough resources is short sighted (remember Corzine’s proposed sale of the GSP?).
Tell the Wizard his ideas are old and tired….
#3 Eugene you are correct sir. Brick and Mortar retail is shrinking due to the internet. Commercial real estate especially in NJ is very tough Office space is available and some industrial parks are ghost towns. Retail and Food and Drink places are subject not only to their costs of running the business but the increasing taxes which makes the market cap and return on investment extremely challenging.
Almost everything I own I bought on Amazon.
Admin that’s why Amazon just opened two huge warehouses in NJ the closet one was in Delaware. UPS USPS and FedEx are being kept busy with packages.
I don’t own that many things.
I will be joining Brian Williams for a while. Resolution 2013-66 passed by a majority vote with Councilman Bean casting a no vote. I apologize to the Councilman. I am committed to getting it right going further.
Admin I did not mean to imply you were their only customer, there are millions that buy online.
How about getting the pavilion built before a new “redevelopment” plan gets underway.
And if aesthetics matter, get rid of some bars, as the town is littered with debris on Monday morning from their drunk patrons.
Two words: union payback.
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