Multiple sources say Adventure Crossing developer Vito Cardinale explored a potential sale of project land to Ocean County’s Open Space Trust Fund, but county officials have announced no plans to pursue such a deal.
Questions are circulating in Ocean County over whether financially troubled portions of the Adventure Crossing development in Jackson Township were pitched to county officials for acquisition through the Open Space, Recreation, and Historic Preservation Trust Fund.
According to sources, the project owner made an offer that the county had to refuse.
Multiple sources within Ocean County government agencies told Shore News Network that Adventure Crossing developer Vito Cardinale approached the county about a possible purchase of portions of the property. No imminent deal has been announced, and the matter did not appear on the agenda for Wednesday’s meeting of the Ocean County Natural Lands Trust Fund Advisory Committee.
Sources familiar with the discussions said the proposal was not advanced. Two sources indicated that the asking price was viewed as a significant obstacle, while others cited potential legal and political complications associated with acquiring land tied to the long-running development dispute.
Project faces mounting financial pressure
The reported outreach comes as Adventure Crossing continues to face financial and legal challenges.
Court filings show Wilmington Savings Fund Society initiated foreclosure proceedings involving the project’s sports dome over an unpaid loan of approximately $14.4 million. Public records and legal filings indicate debt associated with the development exceeds $37 million.
Entities connected to the project have also accumulated nearly $962,000 in unpaid municipal taxes owed to Jackson Township, according to previously reported figures.
Financial troubles have led to bankruptcy proceedings involving portions of the development, raising concerns about the future ownership and operation of the site.
Development remains at center of legal dispute
Adventure Crossing has been embroiled in a years-long battle with Jackson Township over residential development plans.
Cardinale previously proposed building approximately 1,200 residential units within the Highway Commercial Mixed-Use zone. Township officials later adopted zoning changes that limited residential density, effectively preventing the project from moving forward as originally envisioned.
In response, Cardinale filed a lawsuit seeking approximately $120 million in damages, alleging township actions harmed the development. A judge subsequently dismissed an earlier legal challenge brought by the developer regarding the zoning restrictions, though related disputes remain ongoing.
Jackson Mayor Jennifer Kuhn, who has been among the project’s most prominent critics and serves on the Natural Lands Trust Fund Advisory Committee, has not publicly commented on reports of a potential county acquisition beyond the township’s official positions regarding the development.
Sources also told Shore News Network that Cardinale has explored other options in recent months, including discussions with several Lakewood-based developers about a potential sale or transfer of interests in the project. No transactions have been announced.
County official dismisses purchase speculation
Among public officials contacted regarding the reported proposal, Ocean County Commissioner Frank Sadeghi was the only one willing to comment on the record.
When asked whether Ocean County intended to purchase the property, Sadeghi responded with a one-word answer: “No.”
The speculation arrives as county officials prepare to ask voters to approve an increase in funding for the Open Space, Recreation, and Historic Preservation Trust Fund.
Under a referendum scheduled for the November ballot, voters will decide whether to increase the trust fund tax rate from 1.2 cents to 2.2 cents per $100 of equalized property valuation. County officials estimate the increase would generate approximately $20 million annually for future land preservation efforts.
The county says the program has helped preserve more than 30,000 acres since its creation in 1997 and contributed to nearly 186,000 acres of permanently preserved land throughout Ocean County.
Key Points
• Multiple government sources said Adventure Crossing developer Vito Cardinale explored a potential sale of project land to Ocean County through the Open Space Trust Fund.
• Sources said the proposal was not advanced, citing pricing concerns and potential legal and political complications.
• Ocean County Commissioner Frank Sadeghi denied that the county plans to purchase the property, while voters will consider an open space tax increase referendum in November.
