Downtown Toms River Developers Could be Ousted

The developers currently constructing twin buildings in Downtown Toms River, could be ousted, TLS has learned.

Sources today told TLS that come next week, Capodagli Property, the developers of the 10-story buildings, will be receiving a notice of default for contractual default due to failure to provided certain permit documentation.

The notice will put the developers on 30 days notice to cure the defaults, the source in the Township – who requested anonymity – said.

“If they don’t cure the breech in 30 days, Toms River will be out of the deal,” the source said.

Also according to the source, the developers missed multiple deadlines along the way, but those deadlines kept on being extended by Township officials.

The plan for the 200-plus apartment towers being built on the former Red Carpet Inn site, was approved by then-Mayor Mo Hill’s council in 2021 – including by Council President Kevin Geoghegan.

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    • We’re definitely pleased you have awoken from your 2008 nap. ICYMI, we cover the entire Lakewood region.

      Also, don’t forget to hit the caps lock button again to unlock it before sending out your next text – unless you’re looking to keep that angry post-nap thing going.

  1. Although Kevin is good friends with the developer, and he was instrumental on getting it approved, I don’t think he was the council president in 2021 when this got approved, I don’t think we should blame Kevin for this, I think it was some back room deal with Matt Latano, Not Kevin.

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