[[{“value”:”Canopy Crossroad received its certificate of occupancy over the summer and could open any day now. Stephen Appezzato
By Stephen Appezzato
RED BANK – The second cannabis dispensary opened its doors in the borough while Monteverde Modern Dispensary, the first to set up shop in Red Bank, just passed six months in business.After receiving its certificate of occupancy over the summer, The Frosted Nug at Red Bank, located on Nor th Bridge Avenue in the Wawa shopping plaza, opened for business Sept. 17, following a ribbon-cutting event the day before.
According to the borough, Canopy Crossroad, located on West Street, also received its certificate of occupancy over the summer and should be opening in the near future.
For now, Monteverde, The Frosted Nug and Canopy Crossroad will be the only dispensaries operating in Red Bank. The borough’s ordinance governing cannabis businesses caps retail licenses at three.
According to Monteverde co-founder Elizabeth Egan, the business has been doing “very well” so far.“(We’ve) been getting great reception from the Red Bank area, the surrounding towns. A lot of support,” she said.
Egan said business was a little slower in the beginning as the dispensary was still getting its name out, but each month, “it’s getting better and better and I think we’re really making an impact in the town.”
Being the first cannabis business to open in the Two River area, some residents, unsure what to expect, may have predicted long lines and rowdy crowds. But Egan said the community has been welcoming and embracing.
“I’ve come across residents that came up and said, ‘I’m so happy that you’ve actually taken over the property. You’ve made it look prettier, you’re well maintained.’ And some of these are now our customers,” Egan added.
“People that were a little resistant now are greeting us,” Egan said. “And that was our purpose. We don’t want that stigma of a cannabis store. And I think we’ve definitely hit that mark.”
Over the past six months Monteverde has partnered with local businesses like Talercios and Almost Home General, sponsored events like the Red Bank Classic 5K run and the Indie Film Fest, and participated in charity activities engaging with the community. The shop will be part of the upcoming Oktoberfest Sept. 21.
“I’ve just been so happy with (everything), from the political side to the customer side. Everything has run really nice,” Egan said.
Since the business opened, under borough law, Monteverde has also contributed money to the borough through the cannabis retail tax. According to borough manager Jim Gant, so far $19,260.15 in tax revenue has been deposited in Red Bank’s recreational trust fund. With two more retail businesses soon opening, that fund will likely grow exponentially.
In other Red Bank cannabis news, a fourth applicant vying for a retail license, The Garden at Red Bank, LLC, filed a lawsuit against the borough, challenging its decision to issue only three retail cannabis business licenses.
In a statement, Gant said the borough responded to the lawsuit, reasserting the borough code’s retail license limit. The three retail licenses were all issued prior to The Garden at Red Bank’s application to Red Bank’s Cannabis Review Board.
Before the lawsuit was filed, the Cannabis Review Board approved The Garden at Red Bank’s application, placing the business on a waiting list for the next available retail license.
Currently in its early stages, the lawsuit’s initial conference will be held at the end of the month before the Monmouth County Superior Court.
Meanwhile, a fifth business, Two River Green, is seeking borough approval to be placed on the retail license waitlist. The company, which pitched its plans for the building occupied by a laundromat near Strollo’s Lighthouse earlier this year, was scheduled for a planning board hearing last week, however, that meeting was canceled. The business requested to be placed on the next available agenda.
As Red Bank’s retail cannabis business nears full swing, it appears Market Wave, a company that received its Class I cannabis cultivator license from the state and borough, has yet to open its proposed facility on Leonard Street.Red Bank is currently the only town in the Two River area with retail cannabis business; Eatontown is the closest adjoining town with retail offerings.
The article originally appeared in the September 19 – September 25, 2024 print edition of The Two River Times.
“}]] The second cannabis dispensary opened its doors in the borough while Monteverde Modern Dispensary, the first to set up shop in Red Bank, just passed six months in business. Read More