SPRING LAKE — Residents may see a new restaurant, operating as a borough concession in the future, as the result of a council’s approval Tuesday of a resolution authorizing the purchase of an historic building on Third Avenue.
The 1123 Third Ave. property, which the borough plans to acquire for $3,333,330, was most recently a Wells Fargo bank branch. According to borough officials the structure was built more than a century ago.
“We are keen to protect the historic nature of the building,” said Mayor Jennifer Naughton.” It dates from 1910 and is one of the original buildings erected in the Third Avenue business district.
“Under our current ordinances, that building could be taken down and replaced by a new building. No one wanted to see that happen and that weighed heavily in favor of our decision.”
The council had been debating purchasing the property since it closed on Jan. 26 of this year, and entered executive session before Tuesday’s meeting to finalize the details on the project. Borough officials said that they became interested after several residents reached out worried about the fate of the structure.
According to Mayor Naughton, the town envisions making the building a “lovely restaurant” with a liquor license. She added that despite the council’s efforts in trying to convince the legislature to acquire another liquor license in Spring Lake, it wouldn’t be possible due to the borough’s population. However, if the borough were to own a building, they could create a concessionaire’s license, which is “essentially a liquor license that the borough owns.”
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