Rediscover the Wildwoods

The island of the Wildwoods, New Jersey is currently the hottest spot in the Jersey shore real estate market. No other shore location offers the combination of value in both commercial and residential properties, ample dining, entertainment and recreational possibilities, established infrastructure and proximity to population bases. Tens of millions of dollars of private and public capital have flowed into this shore resort just in the past several years. The island features the finest beaches on the East Coast, a vibrant 100 year-old boardwalk, world-class rides and amusements on its many ocean piers and a strong entrepreneurial spirit.

The island’s short drive to Atlantic City’s casinos and entertainment, close proximity to the Victorian attractions and some of New Jersey’s finest restaurants in Cape May and the fishing, boating and ecotourism opportunities nearby in Cape May County, have made the Wildwoods one of the East Coast’s most popular destinations. The progressive local government works hard to serve the business community while expanding its high quality residential neighborhoods.

In addition to the many new commercial establishments, a booming residential construction market has completely transformed the island’s residential housing stock. Wildwood alone has seen the addition of approximately 600 new luxury residential units during the past decade. When combined with the recent addition of quality residences in North Wildwood, Wildwood Crest and West Wildwood, the demographics of the island have taken a decidedly up market turn. This development is creating demand for a broad range of retail and service businesses and dining establishments.

The Wildwoods are a unique place. A fun, family oriented resort with a business-friendly environment and a quality of life that continues to improve. Another important factor for prospective investors to consider is the intensity of the tourist season. It is unlike any other New Jersey shore resort. The population in the peak summer season exceeds 275,000, making the Wildwoods the 2nd most populous city in New Jersey and far outstripping the visitor base of other local resorts such as Cape May or Ocean City. National and regional companies are beginning to realize the benefit of a Wildwood island location.

National and regional retailers and entertainment companies are taking notice. The intense tourist season has made the Pizza Hut in Wildwood one of the top performers in their entire chain and has made the North Wildwood Wawa number one among nearly 300 stores in annual sales revenue. Other major chains such as Harley Davidson and Subway have firmly established themselves on the island. The owner of Atlantic City’s Ripley’s Believe It or Not museum is bringing a spectacular Mirror Maze to the former Hunt’s Pier on the Boardwalk. Morey’s Piers continues there strong commitment to the Wildwoods with a planned complete renovation and redesign of Adventure Pier and a stunning new $11 million roller coaster the will span both Surfside and Hunt’s Piers. The time is right to invest in the Wildwoods!

Providing a strong catalyst for the Wildwoods redevelopment has been the fantastic $70 million Wildwoods Convention Center. Its dramatic beachfront location and first-class facilities have enabled the convention center to more than double the number of events in compared with the old center. The convention center’s parent organization, the New Jersey Sports and Exposition Authority, is currently working with local officials to bring a first-class host hotel to the convention center. This will give the Wildwoods an opportunity to attract new convention and seminar business and strengthen the convention center’s role as a strong force for the island’s continuing renaissance.

The heart of the island, the City of Wildwood, has undergone tremendous change in just the past 5 years. A major capital improvement project in the downtown has returned Pacific Avenue to two-way traffic for the first time in fifteen years. This has resulted in increased investor interest in commercial properties along Pacific Avenue. New businesses and renovations are in evidence along the entire length of Pacific Avenue, highlighted by Crest Savings Bank’s $2 million investment in a wonderfully renovated historic building in the heart of the downtown. Much excitement has also been generated by Coastal Broadcasting, Cape May County’s only locally owned and operated radio station, now broadcasting live from their phenomenal new headquarters on Pacific Avenue with The Coast and the nationally renowned Oldies 94.

The after hours scene has seen several new establishments added to an already robust local nightlife. The Deck, featuring al fresco dining on a 2nd floor deck with a great downtown view, has been a successful year round attraction. Tucker’s Pub, a $1 million project transforming an historic bank into a fashionable bar and grill, has been a favorite for locals and visitors alike. Goodnight Irene’s features 36 draft beers, the most in South Jersey and brick oven pizza. The Ice House, a brand new bar and restaurant, has a unique view of Wildwood’s Otten’s Harbor from it’s 2nd floor deck. Smaller local chains like Avalon Beans, Bagels & Breads, now open on New Jersey Avenue in North Wildwood, have also been convinced of the desirability of a Wildwoods location for their business.

The spring 2000 opening of the $2.5 Schooner Island Marina heralded the redevelopment of Wildwood’s bay front. Since then, Wildwood’s west side has seen the opening of a new upscale eatery, Beach Creek Oyster Bar and Grille and the construction of many dozens of new residential units, including K Hovnanian’s impressive The Tides at Seaboard Point in North Wildwood. Also on the Hereford Inlet is Beazer’s luxurious The Pointe at Moore’s Inlet. In both cases locally owned RPO Realtors brokered the land acquisition for these high end residential communities. Recent east side projects include The Grand at Diamond Beach Splash Zone Interactive Water Park, a $6 million expansion of the Montego Bay Motel and a multi-million dollar 8 story tower addition to the Bolero Motel.

A drive around the island provides visual proof of the Wildwoods’ continuing and expanding redevelopment. The island has the highest concentration of mid-century

buildings in the United States. Many locals are trying to preserve these structures and to renovate and build in this themed style to help make this an attraction for the island similar to the Victorian style on Cape May and the Art Deco style on South Beach in Miami. Evidence of this movement is everywhere, particularly in the whimsical shapes of many commercial signs, the resurgence of neon and the color palette. The Starlux Hotel is a striking high-style example of this Architectural movement. The Casba Comedy Club recently renovated in this striking style. The success of Jersey Girl, a stylish upscale restaurant and martini bar, has demonstrated that a market exists for a themed business that promotes itself and creates a destination.

Retail Assistance

The Wildwoods have a number of services and organizations that provide assistance for local businesses. The efforts of island organizations such as the Greater Wildwood Tourism Development and Improvement Authority (GWTIDA), Greater Wildwood Chamber of Commerce, the Boardwalk Special Improvement District, the Downtown Business Improvement District and the Greater Wildwood Hotel & Motel Association, have created and developed special events and promotions which have succeeded in extending the tourist season. Along with the Doo Wop Preservation League, dedicating to preserving and promoting the Wildwoods’ famous mid-century architecture, these organizations provides a wide range of business-related services and a commitment to work cooperatively to improve the economic vitality and quality of life for residents and visitors to the Wildwoods.

Another economic redevelopment tool is part of the island mix with the Wildwoods Urban Economic Zone (UEZ). Businesses in the UEZ, which includes most commercial areas on the island, receive tax benefits from their participation in the zone. Businesses, with a few exceptions, charge only 3% sales tax, benefiting the consumer and also providing incentive for certain types of businesses to relocate to the island. Also, the tax revenue stays on the island and may be used for a range of economic redevelopment projects and targeted assistance including grants and loans to local businesses.