Investments

Bank Of America Investment After failing to preserve the 70-acre Pulda Farm near Farrington Lake as open space, North Brunswick officials were working on rezoning it for age-restricted housing. The last thing they wanted was another single-family housing development.

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Investment Opportunity But that's precisely what they're going to get, under a proposal submitted by developer Jack Morris.

he Cape's value as a fractional property ownership and investment destination has long been acknowledged. Areas outside of Cape Town that enjoy the same kind of attention include the Cape West Coast. This coastal region is known for its numerous small fishing villages like Langebaan and Blouberg, grain and wine farms and of course Namaqualand and the Knersvlakte. While Hermanus to the east of Cape Town is best known best as South Africa's rime whale watching destination, is sought after by the world's nature lovers.

Banc Of America Investment On March 17, Morris notified the township that he had a contract to purchase the farm and intended to build 96 houses.

Banking Investment "You've got to see the plans to see just how bad this is for North Brunswick," said Mayor Francis "Mac" Womack.

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Investment Solution Strategic "I tell you, if there is a resident of this town or any other who believes they can help us communicate with Mr. Pulda or Mr. Morris to let us try to negotiate a deal so we can purchase the farm, we urge them to do so.

Wildekrans lies on a fruit farm in the peaceful and scenic Houw Hoek valley, surrounded by mountains, just an hour's drive from Cape Town.

Investment Banking Services "I and every member of council is willing to listen, participate and do everything we can to do that. Until the ink is dry on whatever deal the Puldas sign with somebody, we will not consider it a dead issue," Womack said.

Bank Investment CONCERN OVER SERVICES

Alternative Investment Council President Carlo Socio said everyone wanted it for open space, adding he didn't want to see even one single-family house there.

Online Investment Services "My fear is about the added burden on our school system, traffic and on township services," he added.

Accompany Essential Investment But Republican Party Chairman Pete Mainone said the Democrats are wailing after they let the horse out of the barn.

Investment Company "I think the bottom line is there was an opportunity missed when our open space committee failed to actively pursue the Pulda family to purchase the farm for open space," Mainone said.

Investment Management Solution Mainone said Gary Hirsch, who was vice chairman of the township's open space committee, was Womack's campaign manager and is a paid consultant for New Directions for Responsible Leadership, a political action committee operated by former state Sen. John Lynch.

Investment Management Services Morris is a business associate and close friend of Lynch and a large campaign contributor to Middlesex County Democrats.

Guide Investment Stock "Mac and Carlo ran on an anti-development platform, but at the same time they were taking the money through the back door from an organization run by John Lynch," Mainone said.

Investment Manual Solution Womack's Republican opponent for mayor, Greg Rubenstein, said, "They say they didn't accept any money from Morris but they did take money from the county organization and they knew where that money was coming from."

Investment Stock Womack and Socio dismissed the Republican charges as politics, saying the GOP failed to preserve the farm when they controlled the township.

Essential Investment Solution "We didn't solicit or take any money from Jack Morris, although we did take money from the county. But actions speak louder than words and our opposition to this development is going to speak for itself," Womack said.

Citicorp Investment Services SENIOR HOUSING

Fool Guide Investment Motley In the meantime, the six-member Democratic-controlled council had been working on a controversial ordinance to rezone the farm for a planned adult community, or senior citizen housing.

Fidelity Investment Services Councilman Adam Weiss, a Democrat who is not seeking re-election, voted with Robert Corbin against that measure's introduction because he believed senior housing should be built elsewhere in the township, not on extremely valuable pristine open space.

Investment Management "If it has to be single-family homes, which it is zoned for, I hope it is at least upper value homes which will add ratables, but it will still be an added burden on our infrastructure and school system. The township was a day late and a dollar short in changing the zoning for that parcel," Weiss said.

Francisco Investment San By all accounts, the Pulda family rejected all approaches by the township to negotiate a purchase of the farm as open space, in apparent displeasure with the township that was worsened when North Brunswick moved to condemn the Otken Farm two years ago.

Mellon Investment Services Thomas Miller, an attorney in Somerset who represents the Puldas, did not immediately return a call requesting comment on the family's decision to sell to Morris or if it would still consider negotiations with the township.

Finance Investment While the council was working on plans to rezone the site, Morris informed the township that his company, Edgewood Properties of Piscataway, was the contract purchaser of the farm and intended to develop it in compliance with local zoning and planning ordinances.

Investment Manual Science SITE PLAN

Investment Advisory Services He asked to meet with township officials so a plan could be prepared and a complete set of site plan drawings submitted within 30 days.

Advice Investment He said he understood the township was considering changing the zoning to senior citizen housing and wanted to have his plans submitted before that zoning change.

Guide Investment Company spokesman Rich Ochaber declined to elaborate on those plans yesterday.

Chase Investment Services Womack, Socio and Weiss said they were unsure of the next step, adding they were reluctant to do something that would open the township to a lawsuit.

Firm Investment They also said they did not want to take the land through eminent domain.

Financial Investment Services "Unless we're willing to condemn it, which we're not, it's hard for us to see a straight path to obtaining it," Womack said of the Pulda Farm.

Investment Securities Meanwhile, resident Ben Galioto is circulating an online petition asking the township to preserve the farm as open space. The online address for the petition is www.petitiononline.com/puldafar/petition.html.

Property Investment Services By Patrick Jenkins
Star-Ledger - 3/28/2004

Topic: Sprawl

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