Under new ownership again, the Kings Inn Motel plans to become a Motel 6.
The Redevelopment Agency last week reassigned the redevelopment agreement from Ratan Rahway, LLC to Rahway Tower, LLC. Attorney Frank Regan told commissioners during a meeting last month that a new owner for the property is expecting to file building permits. They plan use the same site plans that already had been approved by the Planning Board, Regan said. About a year ago, principals in Ratan Rahway had plans to buy and renovate the property and turn it into a Howard Johnson but ran into financial difficulties.
A new individual has acquired the interests of Ratan Rahway, which has a contract to acquire the property from Rahway Tower, according to Regan, and eventually may take its name as well.
The properties associated with Kings Inn (Block 304, Lots 5-6/1360 Route 1) were acquired for about $1.2 million in September 2004 by Rahway Tower, LLC. Barry Rosner, a Somerset-based CPA listed as a principal of Rahway Tower, declined to provide any details over the phone, saying only that he’s not involved in Rahway anymore.
There’s been occasional speculation that the state Department of Transportation (DOT) has interest in purchasing the property, but a spokesman confirmed last summer that it does not.
The Rahway Rising Facebook fan page reached 100 fans last week — woo hoo!