Talks are currently underway to bring public-private partnership to modernize the Lakewood Airport, along with the adjacent properties.
The neighboring properties, formerly owned by the Bathgate Law Firm, was purchased by local resident Simcha Ingber, who will be developing the property, placing multiple office buildings on the properties.
This week, the project received initial approvals from the Zoning board.
TLS spoke with Lakewood’s Director of Development Steven Reinman, who described the proposed ideas for the airport and the process where it stands.
“LIC and Ingber have been engaged in discussions and working plans for a Public Private Partnership (P3) which is permitted under NJ state law,” said Reinman. “The intent is for Ingber to develop a new permanent terminal for Lakewood Airport that will replace the temporary terminal we have been using. In addition, one or more eateries may be developed as part of the new facility and a conference center that can accommodate larger meetings and events for corporate users.”
The project will be built and financed by Ingber and the P3 agreement will put in place the parameters of the relationship between LIC and Ingber as to revenue sharing etc.
“In addition, LIC will lease a section of the airport property to provide overflow parking capacity for the office towers to be built by Ingber, at going rates and with an agreement for mutual use of each others parking when events require,” said Reinman.
The application to Zoning was only for height variance for the office towers, Reinman says, which are requesting to go above the standard 65 feet to 97 feet.
“This is still early in the process as we still have to get through regulatory (CAFRA), county road coordination for both Cedarbridge and Airport (both county roads in that area) and of course the finalization of a deal for the P3, public hearing and Mayor’s review.”