|
Question and Answers
Restaurants, Food Stores
View other questions about Restaurants, Food Stores
Question:
Asked By The Answer Man on November 19, 2008
Subject: Article: Plans to replace aging Acme market postpo
Article from today's Beach Haven Times. The plans to tear down the Acme and rebuild are on hold.
Answers:
Submitted By The Answer Man on November 19, 2008
November 19, 2008
Plans to replace aging Acme market postponed
By NICHOLAS HUBA
Staff Writer
LONG BEACH TOWNSHIP — Citing the struggling economy, developer Patrick Moeller has decided to put on hold plans to redevelop the Acme in Peahala Park.
The plan had called for the demolition of the current Acme and the reconstruction of a new, state-of-the-art supermarket.
"It's going to be at least a year until any work starts," Moeller said. "The economy is one of the reasons that we are going to hold off on doing the improvements."
Moeller said over the next couple of weeks he is going to sit down with Acme officials to discuss issues regarding the project.
"There are a couple of issues that we have to work out with the lease, but overall I'm committed to the project," Moeller said.
Before full-scale construction on the project starts, Moeller said that he is going to make improvements to the parking lot.
"We're going to clean up the parking and make other improvements there," Moeller said. "But at the earliest, construction would start next winter."
In July 2007, the township's Land Use Board approved Moeller's plan.
The plan included demolishing the current 20,736-square- foot supermarket and replacing it with a 32,620-square-foot supermarket. The plan includes a 3,368-square-foot retail area and a 3,883- square-foot, 88-seat restaurant. The plan also called for the traffic light on Long Beach Boulevard to be moved north approximately 25 feet.
Acme operates 130 supermarkets in Delaware, Maryland, New Jersey and Pennsylvania, according to its Web site.
Beach Haven Park Stadium 5, the 10,962- square-foot movie theater, will remain during the reconstruction.
Rick Reynolds, executive director of the Southern Ocean County Chamber of Commerce, said that these tough economic times for any business project right now.
"It's difficult for anyone to open a business right now, because of the tight credit market that it out there," Reynolds said. "I'm concerned not just for over here but for the whole country at this point."
"All economies have their cycles, for people who have things positioned well they are going to have success when the economy rebounds," Reynolds added.
Submitted By Tim on November 19, 2008
Too bad... that store is definitely in need of an overhaul.
Submitted By Steven Miller on November 21, 2008
Funny that after he got approval to build the houses next door the Acme project went away. This guy is full of promises about improvements but real concern lies with filling his pockets by selling houses. The Acme project would not put big $$$$ in his pocket like the houses do, so no Acme.
Submitted By Gus on November 21, 2008
Interesting point Steve. But the housing market is in the crapper now. I would think he would prefer to do the Acme vs the houses in this market.
Submitted By Steven on November 24, 2008
He can maintain resources by building a model home (already done) and then "sell" lots after customer selects house model and signs sales contract. He only has to front the $$$ during the build and is whole upon closing. Considering he already purchased land...build or no build he has to pay that nut.
As for the Acme, it is a all or nothing proposal. He has to borrow the money and work a payback over the life of the lease plus options. No scaling involved.
You can see how houses is cheaper to do for him even if the market is bad.
View other questions about Restaurants, Food Stores
Do you have an answer or a suggestion?
Use the form below to submit it.
|
