Toms River mayor to apartment builder: You've got 30 days to get permits or you're out

Jean Mikle, Asbury Park Press
·3 min read
4

TOMS RIVER - The developer of two downtown apartment towers will be declared in default Monday, April 1, because they have not yet acquired all the permits necessary to build the 281-apartment project, Mayor Daniel Rodrick said.

Capodagli Property Co. has not yet broken ground on the pair of six-story towers slated to be built at Main and Water streets, at the site of the old Red Carpet Inn.

"Capodagli is going to be declared in default," Rodrick said. "They will have 30 days to cure, and if they don't, we're pulling out."

Rodrick said the developer was supposed to have all its permits in place by the end of March, but did not meet that deadline. He noted that last year, the previous Township Council gave the developer a one-year extension when Capodagli did not meet its deadlines.

Capodagli Property Co. plans to build two apartment buildings on land formerly occupied by the Red Carpet Motel, at Main and Water streets in downtown Toms River. The units will contain 281 apartments and about 14,800 square feet of retail space.
Capodagli Property Co. plans to build two apartment buildings on land formerly occupied by the Red Carpet Motel, at Main and Water streets in downtown Toms River. The units will contain 281 apartments and about 14,800 square feet of retail space.

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The towers, which would contain 281 apartments and 14,800 square feet of retail space, were approved by the township's Planning Board in a 6-0 vote in October. It was the second proposal submitted by Capodagli to be approved; a pair of 10-story towers were given the green light by the planning board in December 2021, angering many downtown residents.

Rodrick's successful mayoral campaign in 2023 centered on stopping "overdevelopment," with the downtown towers becoming a symbol of overbuilding. He said the apartments would turn Toms River into a "city," which a majority of residents did not support.

In February, the Township Council agreed to hire Louis N. Rainone, a lawyer tasked with assisting in redevelopment and housing matters, from the powerful firm of state Assembly Speaker Craig Coughlin. The firm is to be paid up to $70,000, and Rainone's hiring was widely seen as a step in extricating the township from the Capodagli deal.

Toms River has been trying to redevelop its downtown area, with only sporadic success, for more than 30 years. The apartments, which would be located on the site of the old Red Carpet Inn, drew support from some downtown business owners, the Greater Toms River Chamber of Commerce and Downtown Toms River, which is the township's business improvement district.

Capodagli received approval to build a pair of six-story apartment towers on the site of the old Red Carpet Inn in Toms River, which was demolished in 2019.
Capodagli received approval to build a pair of six-story apartment towers on the site of the old Red Carpet Inn in Toms River, which was demolished in 2019.

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Supporters argued that the apartments would create more customers for downtown businesses, while opponents said the apartments would change the look of Toms River's historic village, and lead to more traffic in the already congested area. They also objected to a PILOT (payment in lieu of taxes) agreement between the developer and the township.

Under the 30-year agreement, Capodagli would pay a "service charge," instead of property taxes to the township, which would equal 7% of the gross revenue from the development.

Capodagli Property Co. plans to build two apartment buildings on land formerly occupied by the Red Carpet Motel, at Main and Water streets in downtown Toms River. The units will contain 281 apartments and about 14,800 square feet of retail space. A small boardwalk will provide access to the river.
Capodagli Property Co. plans to build two apartment buildings on land formerly occupied by the Red Carpet Motel, at Main and Water streets in downtown Toms River. The units will contain 281 apartments and about 14,800 square feet of retail space. A small boardwalk will provide access to the river.

Joseph P. Baumann Jr., Toms River's former redevelopment attorney, said the payment is estimated at just under $400,000 in the first year that the project is in operation, an amount that would rise over the life of the agreement.

Rodrick, who has strongly opposed to apartment towers from the start, has a different vision for downtown revitalization. He plans to put dozens of personal watercraft docks in the Toms River at Huddy Park, and hopes to build a pier with a bar and concessions at the site of the old boat works building, off Robbins Parkway.

He also convinced Toms River's downtown business improvement district to pay for five fireworks shows in the downtown this summer, to draw people to the area.

Capodagli Property Co. plans to build two apartment buildings on land formerly occupied by the Red Carpet Motel, at Main and Water streets in downtown Toms River. The units will contain 281 apartments and about 14,800 square feet of retail space. A small amphitheater will be part of the project.
Capodagli Property Co. plans to build two apartment buildings on land formerly occupied by the Red Carpet Motel, at Main and Water streets in downtown Toms River. The units will contain 281 apartments and about 14,800 square feet of retail space. A small amphitheater will be part of the project.

Jean Mikle covers Toms River and several other Ocean County towns, and writes about issues related to Superstorm Sandy. She's also passionate about the Shore's storied music scene. Contact her: @jeanmikle,  jmikle@gannettnj.com.

This article originally appeared on Asbury Park Press: Planned Toms River apartment towers have just 30 days to get permits