--- In AsburyPark@yahoogroups.com, [EMAIL PROTECTED] wrote:
>
> In a message dated 11/12/2008 8:51:26 A.M. Eastern Standard Time,
> [EMAIL PROTECTED] writes:
>
> It's Wedensday, Mario. Pete said it's back to Asbury only issues
as of
> today.
>
right. So far, I haven't seen any citigroup filings for AP.
So what do you think there tom - any people having problems paying
there mortgages in AP or Rent or Taxes? Are there any problems
selling the current inventory of homes? When do you think the first
tenant will move into whatever the Esperanza becomes? $100 from me to
the charity of your choice if ALL the new condos (N beach, Wesley
etc) are sold out or rented out by July 4....
The current money markets only keep fear in people. People w/money
have to figure out how to hang on to it. Those still earning money
are in the wings. Have prices settled enough? What's really better
for the businesses of AP - year round tenants or second home owners
or investors looking to flip or rent or protect $ ??
A very well respected sent me a couple emails they found about MM's
two developments on hold for one reason or another. Let's take one
reason: They need to get liquor licensces approved by the town.
Looks like MM found the secret to success. Liquor.
Part of the first email:
HARRISON TWP. A ballot question put to voters on Nov. 4 will
determine whether alcohol should be sold for consumption in the
Richwood Village project. Regardless of the outcome, officials here
said the plan to go forward with the development will proceed.
"Richwood is going to happen whether this happens or not," Harrison
Mayor Lou Manzo said of the results of the referendum. "Obviously, it
will be slightly different on the commercial and retail end should it
not pass."
Manzo explained that Madison Marquette, the Washington D.C.- based
firm charged with leasing the 900,000 square-feet of retail,
commercial and office space along the U.S. Route 322 corridor off an
interchange of Route 55, has contingency plans in place if voters
down the four possible consumption licenses.
The township wouldn't necessarily be required to release all of them
at one time. The projects developers don't believe that success rests
solely on what the voters ultimately choose.
"We have been out talking to big name retailers not in the Richwood
market," Robyn Marano, Regional Marketing Director for Madison
Marquette said. "We have had tremendous excitement and interest in
this project."
The plan to turn 370 acres in the township's Richwood section into a
pedestrian-friendly town center has been in the works since 2006 with
completion expected in 2010. Consumption licenses would go to upscale
restaurants located solely within the Richwood Village area as
defined in the township's master plan.
AND Part of second:
Things are no different in Belle Mead, where the biggest light on the
horizon had been the Montgomery Promenade project at the corner of
Rt. 518 and Rt. 206 next to Princeton Airport. Originally scheduled
to be open by 2009, that project now appears to be on hold.
Local businesses report that an engineering team had been working on
the site as recently as May, but little work has been done since then.
It's not just the lack of interest on the part of bankers, says
project manager Mark Lanham of developer Madison Marquette, it's the
leasers. "This is a tough market," he says. "The market has slowed
and the retailers have taken a long look. People who do 15 or 20
deals a year are doing five, instead. It's a difficult environment
for everybody. But we're still enthusiastic about the project.
So the economy is Asbury related. If you want, I'll come up with some
intereting housing stats in AP. I'm sure Jen could make it clearer.
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