Ocean City Buying More Property and Here’s The Reasons Why

There has been a growing demand at the Jersey Shore for Parking and mixed-use properties over the last decade.

Many Coastal Communities have been forced to get creative with Public Parking options, especially during the summer months. Meanwhile, the older buildings that are zoned downstairs for business and upstairs for residential are no longer popular with the plethora of new mixed-use properties being built over the last 15 years.

One South Jersey town is taking a proactive approach to these issues by allocating municipal funds to acquire properties that are being underutilized in the city's downtown area.

Ocean City Is Absorbing More Property Ownership

Named one of the Most Beautiful Shore Towns in South Jersey, Ocean City has been dealing with parking issues for decades, and now their City Council has acted to rectify this issue in the downtown section of the island.

The OC City Council approved a $960,000 bond ordinance to purchase one of the oldest buildings adjacent to 9th Street. Built in 1903, the mixed-use building located at 846 Central Avenue is located next to City Hall and will expand the municipal parking in the downtown.

City Council had previously approved the $750,000 bond ordinance to purchase the building next door at 844 Central Avenue. The city now owns all the parking lots and property on the bayside of Central Avenue between 9th Street and 8th Street. The Ocean City Municipal Court and Public Safety Building is located on the oceanside of Central Avenue, directly across from the public parking lots.

The current plan according to media reports, is to use the two buildings on Central Avenue for city office space upstairs. The downstairs businesses will remain, and their lease agreements will be honored.

A well-known landmark at the corner of Asbury and 8th Street, behind the Public Parking lots is the old Crown Bank Building. The former bank is now The Shoppes at The Asbury: