Victory Redevelopment Study Goes to Council Thursday

Cherry Hill’s township council will consider a resolution designating the Victory Refrigeration site as a redevelopment area in its rescheduled meeting Thursday night.

It’s the next step in generating a plan for the property, which was recommended as a potential redevelopment site after the planning board heard a report last month characterizing it as “grossly underutilized,” obsolete and potentially dangerous.

It’s officially the second major step in the process, but developing the full plan will take time, township officials said.

“We're really at the beginning stages,” said Paul Stridick, the township’s planning director, when the planning board made its recommendation last month. “It's sometimes very complex...to put a timeline on it is impossible.”

Representatives for Victory raised concerns about their lease, which runs through the end of 2014, and the redevelopment plan’s possible effects.

Township officials have said the redevelopment study on the Victory site, as well as a second study at a vacant lot slated for an off-track betting parlor at the old Garden State Racetrack property, were both aimed at finding a new home for Subaru, which has outgrown its current headquarters on Route 70.

Redevelopment at either site wouldn’t have to be limited to the Japanese automaker’s needs, however, and officials said they want to create the opportunity for growth, no matter who might move into the space.

“I envision transforming the Victory site into an economically viable and thriving world-class corporate campus fit for the 21st century,” Mayor Chuck Cahn said when the council initially recommended the site for a redevelopment study. “This is an opportunity to grow the township’s commercial ratable base, solidify our thriving local economy and set a precedent for future growth.”

Subaru officials have said they’re looking for a space almost double the size of their current headquarters along the Cooper River, a 115,000-square-foot office tower on a 13-acre property that's maxed out, with no room for growth, and could make a move in the next two years.