TIPS AND SNIPPETS: More Apartments for Gloucester City; Gcity HEAVY IN DEBT; MICKY DEES coming too...
Sunday, October 13, 2024
William E. Cleary Sr. | CNBNews
GLOUCESTER CITY, NJ-As of October 13, 2024, the City of Gloucester City, is planning to transform the former Gloucester Catholic High School Boys Building into 15 modern apartments. On April 22, 2024, the city entered into a long-term tax exemption agreement with the developer, VP Burlington Urban Renewal LLC, marking a significant step towards realizing this redevelopment project. The historic building also housed Saint Mary's High School in the 1920s and 1930s.
In 2017, the former property owner, St. Mary Parish, sold it to WEBO, LLC, of Philadelphia, for $450,000. The principals of that business were Rich Lauletta and Paul Margaritis. In an interview with CNBNews, Lauletta said he and his partner were hoping to renovate the property into a medical facility. When asked about those plans years later, Lauletta said that commercial properties in Gloucester City were not selling.
CNBNews reported in August 2022 that there were 4,663 housing units in the City of Gloucester City. Of that number, 2,987 are rental properties or 64 percent of the 4,663 residences in the city. To be more specific, there are more rentals in the City of Gloucester than there are homeowners. Currently, a developer is planning to build 300 rental properties on the Holt Logistic property at King and Cumberland Streets.
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GLOUCESTER CITY TAXPAYERS ARE HEAVY IN DEBT
The Gloucester City Mayor and council recently approved a significant $6 million bond to fund the city's essential sewerage and water infrastructure. This decision comes after passing two other bond issues earlier in the year, one totaling $550,000 for acquiring the vacated PNC Bank building on Monmouth Street and another for $620,000 designated for purchasing miscellaneous items.
The financial burden on taxpayers is evident as from January through August, they have collectively shouldered a substantial monthly bill amounting to $15,291,293, averaging around $2 million per month. And we still have four more months before the year ends. The ongoing rise in taxes can be attributed to a governing body seemingly reliant on taxing and spending, as they have yet to explore passing a budget without imposing a tax increase. We believe the last time there was no tax increase in Gloucester City was when the Democrats were in the minority, and the Independents controlled the council. That was 34 years ago.
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GOOD NEWS FOR THE BOROUGH OF BROOKLAWN
BROOKLAWN, NJ--Several months ago, during a discussion with a borough official, we were informed about the potential opening of a McDonald's restaurant, specifically at the former site of St. Maurice Church. We eagerly anticipate the official announcement. Recently, Mark Mathews, the editor of Route 42 Freeway blog, released an article hinting that the arrival of McDonald's, affectionately known as 'Micky Dees,' is imminent in 'God's Little Acre.'
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