Business Buzz
By Rich Baehrle
If you have not noticed, more than a dozen commercial properties have been sold or leased recently in Pleasantville, and more are pending. There is a great vibe of new activity in the air.
The hub of the activity is at the intersection of Washington Avenue and Main Street.
In a major step toward revitalizing the city center, South Jersey Development, LLC, has announced plans for an ambitious new project that promises to transform the heart of Pleasantville in a positive way.
Demolition permits and funding have been secured to initiate a project that is second to none. The development, led by Ren Parikh, visionary founder and CEO of Ideal Institute of Technology, will feature a modern, multipurpose hospitality center at the corner of Main Street and Washington Avenue.
The project will include a wide variety of amenities including a microbrewery, a cloud kitchen capable of servicing, multiple establishments, and a banquet hall. The icing on the cake will be an 80-room branded hotel with a rooftop restaurant. These features are expected to transform and significantly enhance the local dining and entertainment scene, which should make Pleasantville a new destination for residents and visitors.
The new center should be the catalyst to raise the tide for the entire city.
“It will change the look and feel of Main Street Pleasantville,” said Parikh. “We are committed to creating a landmark that will serve not only as a hospitality hub, but also as a premier training institute. It will offer hands-on experience in the hospitality industry.”
Parikh is the CEO and president of the Ideal Institute of Technology, which is located at the former Atlantic City Press building 1000 Washington Ave. It has become a reputable learning center where students get paid to learn.
The new hotel is expected to operate under a well-known brand. The developer is currently in talks to secure either a Best Western or a Holiday Inn Express to the site. It is projected that the site will generate over 100 new permanent jobs. This should have a significant positive impact on the city along with other anticipated growth from surrounding business activity.
Demolition of the existing properties on the site is scheduled to begin before the end of the year. The entire project is expected to be completed by the end 2026.
The developer’s vision for Pleasantville is clear: to create a vibrant, thriving downtown area that serves as a focal point for the community, and to draw visitors from across the region. Parikh will keep us up to date as the South Jersey Development and Ideal Institute of Technology progresses toward bringing their ambitious vision to life, offering new opportunities for the city’s economy and its residents.
Remember to support local businesses, especially small businesses. Stop, play and stay locally.
Rich Baehrle, of Berkshire Hathaway Fox and Roach, can be reached at 609-266-6680 or 609-641-0011. Email richardbaehrle@gmail.com or see www.getrichinrealestateSJ.com
