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BRICK, NJ-The details of four proposals for redeveloping an 11-acre site on Route 70, containing a long-vacant Foodtown supermarket, are still scheduled to be formally unveiled this week. But township officials this weekend gave the public an idea of what to expect on Tuesday night.

Officials released some details of those four proposals, culled from more than 100 expressions of interest to the township’s original RFP. The most ambitious comes from the Blue Bell, PA-based TBG Developers, which wants to anchor its project with a four-story, 124-room Marriott Courtyard hotel and conference center. It would be flanked by two 21-story towers with two floors of retail, four floors of offices and the rest residential condos.

According to information released by officials, TBG did not list a price offer for the township-owned site, stating only that the company would pay “fair market value.” The township acquired the site in 2003 for $6.5 million, largely to thwart a proposed 105,000-sf Home Depot store. TBG’s project, meanwhile, would rise in three phases.

The other three proposals did include offers for the site, led by the $7.5 million served up by M&M Realty Partners. M&M, a partnership between the Piscataway-based Edgewood Properties and JMP Holdings of Clifton, also named Marriott as a hotel anchor, with a 120-key property. The MXD would also include nearly 75,000 sf of retail space, with about 46,000 sf encompassing a supermarket.

Third finalist First Montgomery Group of Marlton is offering $6 million for the site, on which it would build a 100-room hotel-to-be-named and an adjacent “Main Street” corridor with four floors of apartments atop ground-floor retail. All of that would be built within the footprint of the vacant supermarket.

And Paramount Realty Services of Lakewood, will offer $4.8 million for the site, and its redevelopment proposal is the most modest of the four. A four-story, 125-key Marriott property and banquet center would be joined by a separate restaurant and a pharmacy.

“The process is more time consuming than simply selling the property to the highest bidder,” says Mayor Stephen Acropolis. “This has given us a greater say in what will be built, which was important to us. We will not sacrifice the best interests of our residents for a speedy sale.”

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