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2022 Updates

February 2022 

  • 230 West Crescent was sold last year to Hampshire and they are currently renting out the space. This allowed Allendale to pay down a good portion of the debt.
  • 220 West Crescent is much more complex and things have been slow. Hampshire reached out to several builders to bid on the both the residential and municipal building. The bidding process was arduous and complicated as we wanted it broken down line by line and as detailed as possible. The process took upwards of 6 months. The bids came back over budget due to Covid, inflation and the supply chain issue. The next step is to present this finding to the council sometime in February and discuss our options. We need to evaluate all scenarios from a cost perspective, legal perspective, needs/value perspective which takes a significant amount of research. 

June 2022

July 2022 

As the Borough navigated through COVID, the plans to develop a Community Center and Borough Hall at 220 West Crescent and a mini-warehouse at 230 West Crescent became significantly delayed.

We decided that in the best interest of the Borough, to split the project into two separate transactions. Since the back building (230 West Crescent) was going to maintain the same use, we were able to close and receive $10.2 MM to pay down the acquisition debt. It is currently operational and we are receiving revenue from the PILOT (payment in lieu of taxes).

The front building (220 West Crescent), provided bigger challenges. There were supply chain issues, labor shortages, and the rising cost of building materials. Our quotes were changing weekly and kept going up. We made a conscious decision to wait. During this time, we changed the way we worked as a Borough. We seamlessly transitioned to the virtual world and made many of our systems and operations more electronic. New office space was no longer a foreseeable need however meeting space for our community groups and clubs was still in demand. Currently, the existing council chambers are the only meeting space offered to the community.

After much thought through and consideration, we decided the best value for the community was to keep Borough Hall where it is and make the entire facility at 220 West Crescent a Community Center with one half being a gym for fitness and physical activity and the other half being an open space for meetings. There will also be a commercial kitchen. The building will now be one story and skillfully designed with optionality…Meaning that if a second story ever needs to be added in the future, it can be easily adapted.

We anticipate the cost to be less and are currently completing the construction documents to get a new quote. We also applied for and received first-round approval of a grant to defray costs. We anticipate an August date for the LUB since there was a change in scope. This entire project has been acquired and will be built without any additional tax dollars. 

October 2022

The Borough is navigating through legal documents and looking to close on 220 WC (front building) in the very near future. 220 West Crescent which will be comprised of 70 units and a municipal community center. We closed on the back building (230 West Crescent) last year and received $10.2 MM to pay down the acquisition debt. 230 West Crescent is currently operational and we are receiving revenue from the PILOT (payment in lieu of taxes). Once we close on 220 West Crescent, we will receive 3,050,000 for the total acquisition cost of 13,250,000. This money, or a portion of it, will be put towards the building of the new community center. The Borough also applied for a Federal grant and has, so far, received encouraging news that we will receive it. This grant will make a significant impact on the cost of this project. After the closing, we will go to bid on the project. We anticipate the closing to occur in the next few months, if so, the demolition and building will commence shortly thereafter. This entire project has been acquired and will be built without any additional tax dollars. 

November 2022

The Borough is still navigating through legal documents with Hampshire and is looking to close on 220 WC (front building) in the very near future. As soon as the closing is complete, the front building will be demolished. Residents will soon see fencing and equipment in the area as the demo portion is getting ready to mobilize. 220 West Crescent will be comprised of 70 units - built by Hampshire and a municipal community center. The building of the new municipal community center will commence once the Borough finalizes plans and goes to bid. We also applied for a Federal grant and have so far received encouraging news that we will receive it. This grant will make a significant impact on the cost of this project. The Borough closed on the back building (230 West Crescent) last year which currently functions as a small warehouse. This entire project has been acquired and will be built without any additional tax dollars.

December 2022

The Borough is almost through the legal documents with Hampshire and will close on 220 West Crescent (front building) in the very near future. As soon as the closing is complete, the front building will be demolished and they will begin building 70 units. The fencing and equipment have already been mobilized. The Borough will be going to bid shortly after when plans are finalized to build a municipal community center. The Borough closed on the back building (230 West Crescent) last year which currently functions as a small warehouse. This entire project has been acquired and will be built without any additional tax dollars.