This is a significant development that could potentially change the nature of Townsend's Inlet area of Sea Isle. The sale includes a liquor license. Busch's had a small bar that remained in business through this past summer. The bar catered to an older crowd and was never much of an issue in one of the quietest areas of Sea Isle. However while it is anyone's guess as to what kind of businesses will occupy the retail space it will almost certainly include a restaurant/bar of some kind.
As reported earlier, Busch's restaurant was sold to a developer. The old restaurant which occupies the entire block of 8600 Landis Ave was sold for $1,650,000 according to the Cape May County clerk's office. The new building will be massive with 10,000 square feet of retail on the first level and thirteen large condo's occupying the second and third levels. In addition there will be 40 ground level parking spaces. In addition there could be additional residential and commercial units built on the remaining parcels previously used for Busch's parking.
This is a significant development that could potentially change the nature of Townsend's Inlet area of Sea Isle. The sale includes a liquor license. Busch's had a small bar that remained in business through this past summer. The bar catered to an older crowd and was never much of an issue in one of the quietest areas of Sea Isle. However while it is anyone's guess as to what kind of businesses will occupy the retail space it will almost certainly include a restaurant/bar of some kind.
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It is official. Busch's which has been a fixture in Townsend's Inlet since 1882 was sold and is being demolished to make way for a huge mixed use development. Plans have been approved for a new building with first floor retail and 13 condos above. The main dining room at Busch's closed over a year ago and only take out and the bar remained open last summer. Busch's had long ago passed it's prime and the restaurant probably won't be missed by most Sea Isle residents and vacationers.
The real question is how successful will the new owners be in attracting retail tenants. Since retail below/condo above buildings were approved and encouraged over the past several years, the track record has been spotty at best. There are more than a few empty store fronts in Sea Isle and many of the new retail spaces that are leased have pulled their tenants out of older retail space that now sits vacant. The condo's above will sell as they always seem to, but keeping retail space filled in a town with a very small winter population and a short three month tourist season is very difficult. And the only thing worse than a vacation town with no retail space is a vacation town with vacant retail space. |
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