Fight Looms Over Property At Former Race Track In Cherry Hill

The Philadelpiha Inquirer took a look at the looming fight between Cherry Hill Township and the owners of a property, slated for a potential off track betting location but held up because of a federal ban:

The dispute pits the owners, who obtained approvals more than a decade ago to develop an off-track betting parlor at the site, against Cherry Hill Township and its mayor over what the land could become in a hot market. The current owners dream of the day when a federal ban is overturned and they can offer lucrative sports betting at the site. Township officials see the plot as better suited now to a corporate campus, possibly one that would ensure Subaru of America doesn’t move out of town.

As a Real Estate Expert in the region, Anne Koons was asked to comment on the property and situation:

Anne Koons, a Realtor at Prudential Fox & Roach’s Cherry Hill office, said an acre for either residential or commercial development at the location could fetch between $300,000 and $400,000. “You have a lot of commerce there,” she said. “It’s close to good schools, I-295, the New Jersey Turnpike, and the Shore, and has access to the High-Speed Line. It’s a prominent place to be.” The plot is part of the 600-acre former Garden State Park, a harness and thoroughbred racetrack that opened in 1942 off Haddonfield Road.

The Township plans to move forward with their review and the owners insist they will fight any effort to take their property.  It will be interesting to watch and see how this plays out.

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