Doug Vetter
September 7th 07, 07:24 PM
With the credit market in turmoil and residential foreclosures at record
numbers, I suppose it's a sign of the times that I got some interesting
news today. Someone at my home airport told me a very popular nearby
privately owned airport (Sky Manor, N40) was foreclosed on recently.
Google map:
http://tinyurl.com/2el56u
I don't know the details, but my understanding is that the owner leveraged
himself a bit too much to build a high-end fly-in community at the end of
the runway and no one showed up to buy the lots. This doesn't surprise me
because only a few years ago I inquired as to the cost and was floored at
what he was asking. I mean, it was beyond reasonable even for this area.
Apparently some investors from Pennsylvania bought the property and got it
for a song. Not sure what they'll do with it, but unless they're pilots I
can't see it ending well when the grant obligations are up. The owner is
being allowed to "squat" in his home on the property. We may be
witnessing the beginning of the end of a beautiful airport.
On the other hand, I got some good news today too. After I'd just about
given up bitching about my inability to get fuel after hours, looks like my
local airport (Old Bridge, 3N6) is finally getting a 24 hour pump
installed. The report is the owners got the State to spring for it. The
perk is the new tank will be much larger than the old one so they can take
a full tanker load rather than splitting it with another airport and
paying additional shipping charges. Hopefully this will lower the price of
fuel somewhat.
-Doug
--
--------------------
Doug Vetter, ATP/CFI
http://www.dvatp.com
--------------------
numbers, I suppose it's a sign of the times that I got some interesting
news today. Someone at my home airport told me a very popular nearby
privately owned airport (Sky Manor, N40) was foreclosed on recently.
Google map:
http://tinyurl.com/2el56u
I don't know the details, but my understanding is that the owner leveraged
himself a bit too much to build a high-end fly-in community at the end of
the runway and no one showed up to buy the lots. This doesn't surprise me
because only a few years ago I inquired as to the cost and was floored at
what he was asking. I mean, it was beyond reasonable even for this area.
Apparently some investors from Pennsylvania bought the property and got it
for a song. Not sure what they'll do with it, but unless they're pilots I
can't see it ending well when the grant obligations are up. The owner is
being allowed to "squat" in his home on the property. We may be
witnessing the beginning of the end of a beautiful airport.
On the other hand, I got some good news today too. After I'd just about
given up bitching about my inability to get fuel after hours, looks like my
local airport (Old Bridge, 3N6) is finally getting a 24 hour pump
installed. The report is the owners got the State to spring for it. The
perk is the new tank will be much larger than the old one so they can take
a full tanker load rather than splitting it with another airport and
paying additional shipping charges. Hopefully this will lower the price of
fuel somewhat.
-Doug
--
--------------------
Doug Vetter, ATP/CFI
http://www.dvatp.com
--------------------