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In MONTVALE, two 2023 property transactions occurred that will benefit residents including the recent sale of 28.4 acres at 127 Summit Ave. to Veolia North America. Veolia will install two water towers on the site, in addition to constructing a walking trail through the mostly wooded property. The two water towers should help to equalize the pressure throughout the town and generally provide a boost to water pressure town-wide.
Only about a year ago, Montvale had purchased the property for $4.5 million and then resold it at auction in November for $4.725,000. The $225,000 sale profit will go into the borough’s general fund.
Also in September, the borough moved to acquire 8.4 acres of DePiero family farmland for $5.15 million, looking to preserve it for passive recreation purposes, and to offer residents pick-your-own strawberry fields in the future. Montville Landscaping is also acquiring 6.5 acres of DePiero farmland to expand its operations there.
Under the borough agreement to acquire the property, DePiero Farms will continue to operate the farm in 2024, which marks its 100th year in operation.