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.
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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