JV Proposes Mixed-Use Environment for Speedway Site

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WALL TWP., NJ-Walldon Pond LLC has proposed turning the Wall Township Speedway into a mix of townhouses and commercial space. Sterling Properties of Livingston and MDK Development of Paramus, the two firms partnered up as Walldon Pond LLC, gave their proposal an initial airing before the local board of adjustment.

Under plans laid out by the firms, Walldon Pond, as the 50-acre development would be called, would consist of approximately 200 age-restricted townhouses and between 75,000 and 120,000 sf of office and retail space. Most of the commercial space would be offices. A second presentation before the board of adjustment was scheduled for later this month, but that has been postponed until early September by the developers, who have cited scheduling conflicts.

The speedway itself was opened in the early 1950s, and underwent a renovation just three years ago. Walldon Pond LLC is under contract to buy the 50-acre site from its current owners, a partnership operating under the Wall Township Speedway name. The actual sale of the property is contingent upon the developers getting their approvals in place for their project. The speedway is continuing to operate as an auto racing venue in the meantime.

The proposal does face some local opposition, some of it on legal grounds. For one, Roger McLaughlin, the township’s attorney, has said that the application should be tossed out because, in his view, Walldon Pond is a planned-unit development, which is not an approved use under the township’s land-use laws. This and other issues are slated to be aired at the September board of adjustment meeting. Township officials and representatives of the two development firms could not be reached for comment.