By Philip Sean Curran, Staff Writer
Princeton Council members said this week that they want answers from the buyer of the Post Office building in Palmer Square about how the real estate development and investment company plans to use the building.
Officials are pressing for more information as a sale between LCOR Ventures of Oakland, California, and the United States Postal Service is expected to be finalized soon. Financial terms have not been disclosed so far.
This comes as the Postal Service is looking to give the town $10,000 in return for new easements and continuing old ones that have been in existence since 1932 but would go away once the land no longer is used as a post office.
Those easements are important for LCOR’s future ability to develop the property, which is adjacent to municipal land. Some parts of the post office building encroach on town property.
Council, however, held up the deal and instead instructed town attorney Trishka W. Cecil to get answers from LCOR’s attorney, with whom she has been negotiating.
Councilwoman Jenny Crumiller said Tuesday that the town should use what power it has to influence how the building is used.
“This is the time to do that,” she said.
Council President Bernard P. Miller said Tuesday that the building should be developed so that it can used by the public, such as a store or a restaurant.
A phone call left at LCOR’s office was not returned Tuesday.
This story will be updated as more information becomes available.
