WILDWOOD – The developer behind Seaport Pier plans to complete work before this summer on two large projects in Wildwood.
Joe Byrne, managing principal of B.G. Capital, a Philadelphia-based developer, also indicated he has multifamily residential plans for two other block-long parcels he owns in Wildwood’s Pacific Avenue business district.
In an interview with the Herald, Byrne said his two active projects – townhouses at the site of the former St. Ann School and rectory and a hotel with a public bar with a swimming pool downtown on Pacific Avenue – are both on track to be completed by the end of April.
Hotel and Pool Bar
The 64-room hotel and pool bar are going to open in the former footprint of 2nd Street Annie’s, The Fairview and M.T. Bottles, on the east side of Pacific Avenue, in the 3600 block.
“There was a conscientious decision made to switch that to a market-rate hotel,” Byrne said. “It’s the first ground-up, new construction Class A hotel in Wildwood proper in a very, very long time.”
Plans call for two elevators, a lobby coffee shop and valet parking, Byrne said. The cars will be parked across the street, where a boxy and imposing old brown former bank building used to sit. It was acquired and demolished by B.G. Capital. Dragon House, the Chinese restaurant next door to the former bank, will remain.
“We were able to purchase the bank property across the street, which has now been completely demo’d, which has been nothing but a blight to that Pacific Avenue corridor for 20 years. That’s becoming our parking lot,” Byrne said.
The required addition of parking, which the applicant did not believe they originally needed, was added to the plan to obtain a Coastal Area Facility Review Act (CAFRA) permit from the state. At first, the state Department of Environmental Protection (DEP) had issued a letter designating Wildwood as a city where CAFRA restrictions would not apply for redevelopment within certain parameters.
Later, the state admitted that determination was a mistake. Parking was then going to be a requirement, and the developer switched plans from their original workforce housing proposal to the current plan for a hotel.
B.G. Capital worked with the DEP to obtain a CAFRA permit, something Byrne says proves the firm is able and willing to comply with the regulator.
“That’s an example of knowing the process in more depth and being able to navigate it smoothly and seamlessly with the DEP. That’s gone very well,” Byrne said.
Recently, plans were announced for three new bar and restaurant concepts coming this summer to the hotel space: Fairview Social Club, Fourcast Day Club and Vyce.
Byrne said he was in the process of finalizing a contract with a hotel management company that will take it to market.
“We’re excited for those rooms to be rented this summer. We think we have the right management team. We know we have the right product,” Byrne said. “We think that it should be well received.”
Across Pacific Avenue
B.G. Capital owns a lot of the surrounding land along Pacific Avenue. The firm owns the west side of the 3700 block of Pacific Avenue, where Shamrock Beef & Ale and its sister bars, Amnesia and Castaway’s, used to be.
The Shamrock building was moved by its latest owner, Tom Gerace, who turned it into his home a block east down Lincoln Avenue. The rest of the block will be demolished soon, Byrne said.
A block south, he owns the old Veterans of Foreign Wars (VFW) building and the building next door, which was open last year with a bar called Exit 4, and Phly by Night, a pop-up pizzeria. Byrne said that building will soon be torn down and will not be occupied this summer.
“We’re looking at partnering with other developers for multifamily options,” Byrne said.
“Designs aren’t done yet,” he added, when asked if the plan would be for condos. “I’m not running point, to tell you the truth. Our other divisions in our company are really busy right now … which is why we’ve looked to do (joint venture) partnership deals with other qualified developers that can take some of these other projects and run point and get them off the ground.”
Byrne said it’s important to get the existing buildings torn down sooner rather than later.
“Get rid of the eyesores. They’re bad for insurance purposes. Nobody wants abandoned buildings next to them, or across the street from them, for that matter. We want to get them down. We’ve got to figure out when that happens. They will be brand new, ground-up developments. That’s for sure,” said Byrne.
Townhouses at the Former St. Ann School
Another B.G. Capital project, occupying a full square block where the St. Ann School used to be, is also nearing completion. It will be duplexes and townhouses with communal amenities, called Oasis by Seaport Stays. B.G. Capital razed the block in late 2021.
Wildwood Mayor Pete Byron said previously that the development was a positive for the city, especially considering it will now make tax revenue off the property, which was not the case when the church owned it.
Byrne said B.G. Capital will maintain ownership and be flexible about how units are rented, offering weekly, monthly, or year-round options. Furnishings are currently being installed.
“We are taking those townhomes and condominiums to market to rent. We’re going to keep that development,” Byrne said. “It’s a great addition to the community. With the weekly renters, for vacation, it brings a lot of commerce to that part of the island. When you have that kind of mass amount of people in an entire city block, and you offer weekly and seasonal rentals, that’s good for local business.”
Byrne said when finished, he expects the development to be one of a kind in the seaside city.
“I don’t think for a townhome/condominium development, in all of Wildwood proper, and probably North Wildwood, there’s nothing that can compete with it in the way of finishes, layout and amenities,” said Byrne.
Contact the author, Shay Roddy, at sroddy@cmcherald.com or 609-886-8600, ext. 142.
