Madison Marquette joins Asbury Partners

Madison Marquette has signed on as the redevelopers retail and entertainment partner . In the report, they said they expect to invest between $150 and $200 million into the Asbury Park Boardwalk retail and entertainment areas. Total sq footage is estimated at 450,000 sq ft.

It may be very possible that some small rides and other attractions for the younger crowd will be part of the plans.

One of the biggest discussions over the past 30 or more years is what should the boardwalk area become- a residential community or a tourist attraction. As the debate continues on, the development under way in the boardwalk zone provides for plenty of housing. We are awaiting more details on the entertainment zone and retail components.

Will there be a Kohr's once again? Will there be national chains vs. the mom and pops we grew up loving?

Madison Marquette is leading a joint venture with Asbury Partners to develop the entertainment and retail portion of the waterfront the next three to five years. One of the first projects Madison Marquette would like to complete is the renovation of the Casino and rebuilding of the Casino's eastern portion which was torn down this winter after many years of non-use and disrepair.
Madison Marquette has proposed transforming the Casino into a specialty food market and restaurant center, possibly similar to San Francisco's Ferry Building.

The Esperanza Sales Office - 2007

METRO HOMES TO OPEN SALES OFFICE:

From $350,000 to $3m.

the most progressive looking architecture on Jersey Shore will be The Esperanza. Take alook at asburyboardwalk.com

Metro Homes, the third developer building condominiums on the beachfront, received approval from city planners this week to turn the Fourth Avenue Pavilion into a temporary, eye-catching sales office for the Esperanza high-rise as it is built during the next 18 months.

This is the same place the failed redevelopr of the skeleton known as C-8 stood for years until finally coming down with explosives.

Planners approved Metro's plans to use the pavilion and temporarily change the exterior to resemble the design of the Esperanza. The Esperanza is planned for the Ocean Avenue site of the former building shell known as C-8 on planning maps.

Geibel said Metro Homes wants to have the sales center open in 60 days. He said the pilings are finished on the Esperanza site bound by Ocean, Third and Fourth avenues and Kingsley Street. Concrete will be poured, and the building with two towers that reach 10 and 16 stories will start to come out of the ground, he said.