In Plainsboro, liquor licenses this year are big business — selling off two of them in the last five months. But while it was anticipated that the latest license was destined for a restaurant in the Village Center, the only bidder will use it, like the one before, for a night spot in Forrestal Village. ##M:[more]##
Plainsboro Township garnered over $1 million in revenue from the sale of two licenses it put up for bids this year. The Gale Company, the owner of Forrestal Village, is the purchaser of both liquor licenses.
The township auctioned off the first restaurant liquor license last June for $660,”100 to Frederick Knapp of the Gale Company, the sole bidder, with a minimum bid having been set at $475,”000. With Plainsboro Village Center about to start construction and several eateries planned for the area, Plainsboro Township Committee decided to do it again in August. This time the minimum bid was set at $500,”000 by Township Committee, with the thought that a business might have been interested in setting up an establishment at the Village Center.
But when bids were opened in October the sole bidder again was the Gale Company, purchasing the license for $511,”000. It will use the license as a part of its $15 million refurbishment of Forrestal Village. Currently Tre Piani, a restaurant serving an upscale Italian menu, is the only eating establishment with a liquor license at Forrestal Village. The Westin Hotel has a hotel liquor license.
The liquor license acquired in June by the Gale Company is earmarked for either a sports pub and eatery or a steakhouse that is expected to open in the fall of 2005, according to Knapp.
Municipalities are permitted to sell restaurant liquor licenses and package store licences based on population. Plainsboro is authorized to issue a total of six restaurant licenses and two package licenses. Two restaurant licenses are currently in use: Ruby Tuesday, on Route 1 South, and Tre Piani. There are a number of restaurants planned for the Village Center and there will likely be at least one that will want to serve alcohol. But Plainsboro Mayor Peter Cantu says that there are no plans by Township Committee at this time to auction off any of its remaining licenses.
