Can someone enlighten all of us about Ken Smith property?
September 17,2012
Ridgewood NJ , Readers continue to speculate on the fate of the Ken Smith property. There are lost of theory’s but not many answers .
Who owns it, how is it zoned, are there any concrete plans right now or all speculation? Rumors have it that the person that owns this property is well connected. He is one of the five member of the self appoint parking garage committee. He is also the head of the Library Board and gave a large campaign contribution to our new Mayor. You should see what other names pop up on the Ridgewood Library Board. This is the politics Ridgewood residents wanted.
With Ken Smith Motors closed, I’ve heard the Town of Ridgewood might make a play of Eminent Domain to purchase the property and create a giant parking lot. I believe it may be worth 3 million for the approx. 1.7 acre lot. Should be cheaper than building 2 parking garages in the parts of town the town has discussed.”
I think the price will be higher that is why he published his income. My understanding that the town does not get it for what the property is assessed but rather what is fair and equitable value . Hence the money published in the Ridgewood News. Even with the price of $3 mil then you have to do site remediation because you best better believe that there is oil in the soil from the lifts and what ever else the dump there all those years. Then you have to build that big structure . NJTV money has dried up.
I think the die is already case for the for the plan that is on the table. Deals have been made and promises have to be kept.
We doubt it ,there’s no money in the budget to make such a purchase and having such a huge property off of the tax rolls would prove problematic from a budgeting standpoint.
What seems more realistic at the moment is that All American Ford might be planning to move their used car operation into the Ridgewood property and sell only new cars on Route 17. Looks like work taking place now on the property in terms of painting, spruce up, etc.
It is owned by a developer and Smith and they are proposing ANOTHER housing complex with retail. Think that is now 4 large developments being proposed downtown. Welcome to the City of Ridgewood.