By NANETTE LoBIONDO GALLOWAY
VENTNOR – The Board of Commissioners Thursday, July 9 approved a resolution naming the redeveloper of a property located at 4910 Wellington Avenue. The property was named an area in need of redevelopment in December 2023.
Ventnor Holdings Urban Renewal, LLC was named the redeveloper for Block 303, Lots 2.01-2.02. The plan for the 4.8-acre parcel includes razing half of the existing building to build a four-story self-storage facility, with outside storage in the rear for recreational vehicles and boats.
Also at the meeting, the board tabled introduction of a companion ordinance that would allow city officials to approve a long-term tax exemption agreement for the property according to state law. The board pulled the ordinance from the agenda and discussed it in executive session at the end of the meeting. When they emerged from the executive session, officials agreed the ordinance creating the 30-year PILOT (payment in lieu of taxes) needed more discussion before the ordinance is formally introduced at an upcoming meeting.
It was in November of 2023 that the commission requested the Planning Board review the redevelopment area, in hopes the vacant building would be revitalized to serve as a gateway to the city. The Planning Board approved the plan at a subsequent meeting in December 2023, stating it met the intent of the city’s Master Plan.
The developer, Steven Yenowitz, plans to demolish the left side of the building and retain the Dollar General Store next door. The new building would compliment the colors at the Provenza restaurant in the adjacent Ventnor Plaza shopping center. Fencing and a retaining wall would camouflage the RV and boat storage area behind the new building. Due to higher elevations required by flood hazard requirements, the new section will be approximately 50 feet high.
Ventnor Holdings has owned the property for 13 years, and due to market conditions, rehabilitation of the property was delayed for about 10 years. After determining community needs, the company agreed a storage facility was needed and would be utilized by the community. It subdivided the property into two lots, maintaining the Dollar General on the right side. It will demolish the vacant building on the left to make way for the storage facility. Other site improvements would be completed.
The financial agreement will be introduced by ordinance at the next Board of Commissioners meeting on Aug. 13. Details of the PILOT agreement will be advertised, posted on the city website, and a public hearing held before the commissioners take a vote.
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