Recap of Planning Board Meeting Re: Foxmoor Center

RECAP OF AUGUST 24, 2016 ROBBINSVILLE TOWNSHIP PLANNING BOARD MEETING
RE: THE SHOPPES AT FOXMOOR

The Planning Board of the Township of Robbinsville met August 24, 2016 at the Senior Center to discuss the Redevelopment Investigation of Foxmoor Study Area, per the request of Township Council, to consider whether the plaza qualifies as an area in need of redevelopment pursuant to the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1, et seq. (the "Redevelopment Law").

Following a 45-minute presentation by Regional Director of Planning & Redevelopment at Remington & Vernick Engineers Stuart Wiser, a brief presentation by two representatives of LNR Property Management, LLC - which is seeking to purchase the foreclosed property - and public comment by six members of the community and/or Foxmoor business owners, the Planning Board's findings were:

• The Shoppes at Foxmoor property meets three key criteria in order to be designated an Area In Need of Redevelopment. The meeting of only one criteria is required by law.
• The Township Council should discuss the acquisition or possible annexation of the nearly three acres of the plaza located in Hamilton Township, a parcel which includes Friendly's, Massimo's, Ploy Siam and FunniBonz restaurants, to help facilitate any future redevelopment plan.
• The Planning Board offered "no opinion" as to whether the property meets the criteria for Condemnation/Eminent Domain.

The shopping center encompasses just over 19 total acres and, according to the study conducted in March, 2016, 29 percent of the existing units and 52 percent of the overall space is vacant. Those percentages, according to Mr. Wiser, allow the Foxmoor Plaza to fall under the category of an "unhealthy" business environment.

The center has not featured an anchor tenant since the former Marrazzo's Thriftway departed in 2011. Colliers International is currently managing the site, which has fallen into disrepair and has experienced a consistent rise in vacancies over the past several years. 

 -RT-