Ocean County · Toms River Township · #TRT3080A.02
Mixed Use Building, W. Water St. & Iron St.
West Water Street & Iron Street, Toms River Township, NJ · 81,619 sq ft non-residential, mixed use · 3.6 acres
About this project
A mixed-use building of about 81,600 sq ft on roughly 3.6 acres at West Water Street and Iron Street in Toms River Township.
Official description: Mixed Use Building
- Applicant
- Meridia Toms River 40 Urban Renewal, LLC
- Engineer / designer
- Dynamic Engineering Consultants, PC
- Plan type
- Site plan
- Land use
- P
- Status
- Incomplete for Review
The full picture AI research · Nov 1, 2026
The county record describes a mixed-use building of about 81,600 sq ft on roughly 3.6 acres at West Water Street and Iron Street in downtown Toms River. News coverage links it to the former Red Carpet Inn waterfront site, which was condemned and cleared for redevelopment.
The plan began as two 10-story apartment towers with 285 units. In October 2023 the planning board unanimously approved a revision to one six-story building with 281 apartments and about 14,700 sq ft of retail space. It drew public opposition.
In August 2024 the township announced it was ending its agreement with the developer, citing missed deadlines for permits and financial guarantees. The property was to return to township ownership. No later news was found on a new plan for the site.
What it could mean nearby
- The approved design had 281 apartments, which would have added many new downtown residents.
- About 14,700 sq ft of retail space was planned on the ground floor.
- The township cancelled a federal grant for a downtown loop road tied to this project, so those road changes are no longer funded.
- Because the agreement was terminated, the site's future use is uncertain.
Where it stands
The township ended its redevelopment agreement with the developer in August 2024, so the approved project is not moving ahead as planned. The next step would likely be a new plan, or a new developer chosen by the township, which would need its own approvals.
- Aug 9, 2024 News reported the township ending its agreement with the developer and planning to take the property back
- Mar 6, 2024 Latest county planning filing for the project
- Oct 18, 2023 Planning board unanimously approved the revised six-story site plan
- Dec 2021 Original two-tower, 285-unit site plan approved
Want to weigh in? The Toms River Township council and planning board handle redevelopment and site plan decisions, and residents can comment during the public portion of their meetings.
Who's behind it
Meridia Toms River 40 Urban Renewal, LLC · A single-purpose development company created for this downtown Toms River project, with engineering by Dynamic Engineering Consultants, PC.
Around the web
- Toms River terminates controversial downtown development agreementPatch · Aug 9, 2024The township ended its agreement with the developer over missed deadlines and planned to take the site back.
- Revised downtown development to go to Toms River planning boardPatch · Oct 18, 2023The planning board approved a scaled-down six-story, 281-apartment plan.
- Hearing on changes to 10-story Toms River waterfront complex set for WednesdayShorebeat · Oct 2023Covered the October 2023 hearing on reducing the project from the 10-story design.
Planning terms explained
- Redevelopment agreement
- A contract between a township and a developer setting what will be built on land in a designated redevelopment area, and by when.
- Site plan
- A detailed plan showing a building's layout, parking, landscaping and access that a planning board must approve.
- Urban renewal entity
- A company formed to carry out a redevelopment project, often to qualify for special tax arrangements.
- Variance
- Permission to depart from a zoning rule, such as a height limit or setback.
- Mixed use
- A building that combines different uses, such as apartments with shops.
Researched by AI from public sources on Nov 1, 2026. It can make mistakes, so check the linked sources and the municipality before relying on it.
Scope estimate for contractors
Estimated construction value: $21.2M
- ~272 roofing squares (assumes 3 stories)
- ~204 tons of cooling (rule of thumb 400 sq ft/ton)
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