On June 11, Asbury Partners and Madison Marquette officially became partners in the Asbury Park Waterfront Redevelopment. Madison Marquette will be contributing upwards of $200 million in capital along with their national retail development and marketing expertise.
Their work has been evident the past several months, with temporary repairs and making the construction area more presentable along with some preliminary marketing. Most notably, they managed to reopen the former Howard Johnson's as the Salt Water Cafe and plans to open the Paramount Theatre the last week of June.
They also plan on creating new plans for various tracts in the Waterfront Redevelopment Area, including more parking then the current plan.
Hopefully, their skills in development will keep the ball rolling in Asbury.
While the Esperanza complex is beginning to get a foundation, North Beach Asbury and Wesley Grove are welcoming their first residents.
Opportunities still exist to purchase pre-construction at the Esperanza or to move in this summer at North Beach.
Contact:
David Dorfman
Gilman Commercial Realty LLC
Residential and Commercial
Office: 732-517-0088
Cell: 732-539-2914
Tuesday, June 12, 2007
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