Lawrence Township officials are inching closer to executing an agreement of sale to buy nearly six acres of land bordering Colonial Lake from Sheft Associates, Inc., effectively blocking a proposal to build an extended-stay hotel on the banks of the lake.
After some negotiations, Lawrence Township has been granted permission by the owners to conduct an environmental study on the property as part of its due diligence, Municipal Manager Kevin Nerwinski said.
“Since the funds being used to buy this property are public funds, we are meeting our fiduciary obligation to make sure we understand what we are paying for,” Nerwinski said. That’s the reason for the environmental study.
Once the study has been completed and the township is satisfied with the results, then the township can close on its purchase of the property, Nerwinski said. He added that he “fully expects” the township to be satisfied with the study’s results.
Nerwinski said he expects the real estate closing to take place in the fall. Once the purchase has been completed, the township can begin to plan how it would like to improve the land and make it more park-like.
Sheft Associates Inc. agreed to sell the 5.9-acre parcel – part of a larger 8.8-acre tract that holds the Colonial Bowling and Entertainment Center at 2420 Brunswick Pike – after being approached by Lawrence Township.
The purchase price is $3.65 million.
Sheft Associates Inc.’s proposal to build a 123-room extended-stay hotel on the property drew opposition from residents in the Colonial Lakelands neighborhood, across the lake from the property.
The residents formed a group – Save Colonial Lake – and advocated for the township to buy the land to preserve it. They pointed to the wildlife, including a bald eagle, that have made it their home. Lawrence Township stepped in and offered to buy a portion of the 8.8-acre tract.
The 5.9-acre parcel will be added to the township-owned Colonial Lake Park, and Colonial Bowling and Entertainment Center will continue to operate on the smaller, subdivided lot. The action will not affect the entertainment center’s business.
The agreement calls for Lawrence Township to have the right of first refusal if Sheft Associates Inc. decides to sell the smaller lot, which holds the entertainment center. This means the lot must be offered to Lawrence Township before it is offered for sale.
Funding for the $3.65 million deal will come from several sources, including the Lawrence Township Open Space Trust Fund and the Lawrence Township Conservation Foundation.
Other funding sources include grants from the Mercer County Open Space Assistance Program and the New Jersey Department of Environmental Protection’s Green Acres Program.
