The HOA is behind the North End project. They may not be investors, but they are enablers.
By Paul Goldfinger Editor @Blogfinger.net
It turns out that two of the major financial players belonging to OGNED, the North End redeveloper, are part of an investment company called MB1–Capital Partners. Evidently they were added to WAVE in order to provide needed financing of the OG North End project which was recently unveiled publicly.
The link below will take you to our post on this subject. It names the four major stockholders in OGNED including Joel Brudner and Christopher T. McCallion, who are part of MB1.
Each of these four own at least 10% of the stock.
What’s ironic is that 2 of the OGNED partners were among the main financiers and part owners of the Beach Haus Brewery in Belmar (2014) which replaced the old Freedman’s Bakery.
The ironic part is that these brewsters are now investing in the Grove, one of the driest towns in New Jersey.
Do you think the new North End hotel will serve alcohol? How loud does money talk at the Mother Ship?
Will the OG blue laws wind up at the bottom of Wesley Lake? Maybe the Township Committee will be revisiting the need for blue laws now that 2020 has arrived.
It’s not unreasonable to consider jettisoning those archaic rules which are there just to satisfy one segment of town. How about a referendum to find out if the citizens of OG want alcohol and tobacco sold in the Grove and if they want the beaches open all day on Sundays.
And while we are looking at OGNED in more detail, let’s find out who the rest of OGNED are. That information was promised some time ago, but the Township has not released all that info. How many of them conspired in 2007 to change the North End zoning and how many of them have a track record of building condos without parking in OG?
The North End Re-development Zone is, at heart, a public project. The public should know who is behind the planned North End monstrosity. Why the secret?
ROY RODGERS:
