Runnemede’s LaQuinta Hotel located at 109 E. 9th Avenue will be going up for auction with a starting bid of $1,800,000 November 16-18, 2020, according to a listing on Loop.net.
“The property occupies a prominent 4.5-acre site located at Exit 3 of the New Jersey Turnpike with easy access to Camden and Burlington County employers as well as to center city Philadelphia and Atlantic City,” the listing reads. “Located within a redevelopment zone which allows certain tax incentives and advantages offered by the Borough of Runnemede and the State of New Jersey; the PILOT program and PACE provide alternative financing for conservation and clean energy improvements.”
Originally built in 1977 as a full-service Holiday Inn, the existing 146-key hotel offers 4,500 SF of meeting space plus a dining area and lounge. Space is also available for a full kitchen.
The seven-story, 85,652-SF building has three elevators, provides a lobby, dining, and fitness areas as well as community and administrative spaces. Ample storage and surface parking are also available.
The hotel could be redeveloped with approximately 75-100 residential units, depending on layout, unit mix, and market requirements.
Potential residential configurations include studios as well as one-, two- and three-bedroom units.
55+ senior housing is a potential target market, among others.
The 4.5-acre site has undeveloped land available for expansion as well as for a parking structure.
In 2018, SJO reported that a senior residential health care facility was proposed for the closed hotel.
On October 16, 2020, we reached out to Runnemede Borough Clerk, Joyce Pinto, to ask about what happened to the project and Ms. Pinto responded via email: “It fell through.”
To view a video and 3D photo gallery of the property, click the listing link here and navigate to “Virtual Tour.”
Above and below images are screenshots taken from the Loop.net listing