City of Asbury Park Delcares IStar Financial in Default

The City of Asbury Park, hoping to keep the redevelopment of the beachfront moving foward, has declared IStar Financial (NYSE:SFI) in default of the master redeveloper agreement originally penned by Asbury Partners LLC.

IStar Financial inherited the master redeveloper rights and 70 to 80 waterfront properties last December after Asbury Partners defaulted on a $70 million dollar loan.

While IStar now owns the rights, they also own the obligations to complete various infrastructure improvements that were to be completed or need to be redone.

The original Asbury Partners, prior to the default, bought in Madison Marquette to manage the boardwalk retail component. They immediately took what was left of the boardwalk and sparked some new life - what some like and some don't.

Coupled with great spirit and entrepreneurship from new businesses, the boardwalk has come to life over the past 3 years.The new boardwalk has a miniature golf course, water playground and several renovated pavilions with restaurants, an arcade and the temporary home of ReVision Theatre. see more on asburyboardwalk.com for a look at old and new Asbury Park Boardwalk or apboardwalk.com for Madison Marquettes marketing of the boardwalk.

Is it here we go again - with Asbury Park's past experience in litigation with original developer Joseph Carabetta - or is the City making the right decision by declaring IStar in default? What does it really mean?

We do know it means the City has to bond $250,000 to hire James Aaron as attorney to pursue and defend in litigating this should the need arise.

Will IStar rollover and hand back these "rights"? Will they =sell their rights - or be forced to? Will they sell off parcels on their own? Will they fight attempts to their rights - or will they work with the city and avoid costly litigation and further delay redevelopment?

Over the past four years, the City of Asbury Park has come out of its shell. Renovated homes, a downtown that is full of new stores, eateries and much more. No master developer - just hard work, success and failures. The long awaited of work along Springwood Ave if finally underway.

This is Asbury Park.

Asbury Park, one interesting place.

The Asbury Park Holiday Boardwalk

November 28, 2008 - The Asbury Park Boardwalk month-long holiday season celebration will kick off on the boardwalk with a concert and tree-lighting ceremony.

While all the boardwalk shops are open from Tuesday through Sunday all winter, more fun can be found in the Convention Hall Arcade from Friday, Nov. 28 through Monday, Dec. 29.
Two Christmas tree lightings will take place at the same time on Sun., Nov. 30 at 6 p.m. One on the boardwalk outside Convention Hall and one on the large south balcony of the Paramount Theatre. There will also be another tree near the Casino.

This as well as the downtown merchant celebration, First Saturday and all the great restaurants are more reasons to come to Asbury Park.

More information on asburyboardwalk.com

The Boardwalk Family Fall Festival

The following announcement for Halloween Weekend on the Asbury Park Boardwalk and Downtown Asbury Park.

BOARDWALK
Starting next Sunday, Oct 26th at 11:00am, the Asbury Park Boardwalk is kicking their Fall Family Festival. Children and teens can create their own scarecrows with the guidance and help of acclaimed artist Laura Brunetti of L'Estrella Studio's Traveling Canvas.
Ms. Brunetti has been a creative force on the boardwalk all summer with her Traveling Canvas project which allows children to express themselves through art. She is now offering more fall festive fun with Scarecrow Building in the Grand Carousel (CASINO) on Asbury Avenue and the Boardwalk. All materials are supplied free of charge.
McLoone's Salt Water Beach Café is offering a Kids' Sunday Boardwalk Brunch at 12 Noon. Families can dine at McLoone's outdoor ocean view café while enjoying a special Halloween Menu created just for the day.
Finally, a free children's animated film is being presented in the newly refurbished Paramount Theatre at 2:00 pm, Wallace and Grommit -The Curse of the Were-Rabbit.
The cheerful frolicking continues with Family Ghoul Night on Thursday, Oct 30th. The festivities begin with a Boardwalk Costume Parade starting outside the Grand Carousel at 4:00 pm. Costumes are available for free on a first come basis, so get there early to prepare for Trick or Treating which starts at 5:00 pm. All of the new beautiful retail shops on the boardwalk are ready to greet trick-or-treaters with Halloween sweets for all little gouls and boys. Grown-ups will enjoy shopping for themselves or for others - early Holiday shopping has never been easier.
More fabulous features on Family Ghoul Night include Hay Rides down the boardwalk starting at the Grand Carousel, find your way out of the Hay Maze on the boardwalk at Second Avenue, pick a pumpkin, artisinal cheeses or delicious baked goods at the new 'Farmers Marquette' inside the Grand Carousel.
Year-round dwellers and day-trippers alike love the specialty shops and noshing experiences that are unique in Madison Marquette's visionary style and metro flair. Experience art, music, beachfront dining, baking and crafting with marquis merchants such as The Baker Boys, Tim McLoone's Supper Club, LaPlaca Pottery works, Bodega Shoppe and many more.
Asbury Park is also historically known as an entertainment Mecca. The newly renovated Paramount Theatre and Convention Hall have recently hosted world-class performances such as Springsteen, Tony Bennett and Bob Dylan produced by LiveNation.
The historic Asbury Park Boardwalk has transformed itself into year round family destination where visitors have a most enjoyable and memorable experience for every season. Madison Marquette's schedule of Holiday celebrations will be announced soon.

DOWNTOWN
From October 24 - October 31 - many of the restaraunts downtown are having various Halloween themed nights and parties.
October 31: HALLOWEEN PARADE - The Asbury Park Chamber of Commerce is hosting Asbury Park's first ever Halloween parade. The parade kicks off at 8:30 PM at Kennedy Park on Cookman Ave. (next to Market in the Middle), moves west on Cookman Avenue to finish at Merchant's Park (corner of Cookman Ave & Main Street) Prizes for Most Original, Funniest & Scariest For more info contact Mike Evans at 732-988-6088 or email mikesbeachhouse@optonline.net

CONTESTS AND MORE AT THE BIGGEST PARTY AT THE SHORE
Mattison park and paranormal books and curiosities are proud to be hosting our city's first annual Halloween block party on October 31st. cash and prizes totaling over $5000. Dust off those wigs and over-the-top costumes; it's time to celebrate the scariest of holidays.Halloween. Join us in Asbury park for the hottest block party in New Jersey.
Gates open at 6pm and main stage shows begin at 7pm. 21 and up only. The entry fee is $15 Advance or $20 at the gate. Advance tickets can be purchased at Mattison Park or Paranormal Books & Curiosities. Portion's will be donated to "the Center of Asbury Park and Asbury Park Chamber of commerce special events committee. Recently given Star On The Hollywood Walk Of Fame and Induction into The Native American Music Hall of Fame! Our host for the evening will be Felipe rose from "the village people" Food tents will be available and Restaurants participating are Mattison park, Taka, Isabella's, plan b, munch, and wish you were here. Non-profit tents participating are The Center of Asbury Park, garden state equality, Ocean grove united, jersey shore q spot, and the vna of Asbury park. Our main stage show schedule consists of "Cavalcade of the odd" Creep show freak show in Asbury park. Side show hosted by the one and only from Conney Island Donny vomit. This will be a 4 person freak show/sideshow with most extreme and bizarre acts of the unthinkable. Dancers inc. from neptune will also be performing dances and an audience participation of the "thriller dance" dj will be performing in-between sets. $5000 in cash and Prizes will be awarded for these great contests. You are invited to enter any or all of them including: . Pet contest: first place will win $50 CASH along with fabulous prizes totaling over $150; second and third place prizes will be awarded. Pet contests begins at 8:00pm . Pet/owner look-a-like: first place will win $50 cash along with fabulous prizes totaling over $150; second and third place prizes will be awarded. . Body art: first place will win $50 cash along with fabulous prizes totaling over $250; second and third place prizes will be awarded. Contest begins at 8:45pm . Celebrity look-a-like: first place will win $250 cash along with fabulous prizes totaling over $500; second and third place prizes will be awarded. Contest begins at 9:15pm . "drag IN THE DOWNTOWN" WALK OFF CONTEST: FIRST PLACE WILL WIN $250 CASH along with fabulous prizes totaling over $500; second and third place prizes will be awarded. Contestants MUST BE LINED UP FOR THE WALK BY 9:45PM .
SCARIEST COSTUME: First place will win $500 cash along with fabulous prizes; second and third place prizes will be awarded the final two contests will begin at 11:30 . Best overall: first place will win $1000 cash along with fabulous prizes; second and third place prizes will be awarded.
Pre-sale tickets are available at Mattison Park and paranormal books and curiosities located in Asbury park. Press contacts Aaron d. Coleman 732.677.6027 cell MATTISON PARK events manager 649 MATTISON AVENUE ASBURY PARK, NJ acoleman@MATTISONPARK.COM 732.807.3435 649 MATTISON AVENUE ASBURY PARK, NJ 07712 www.mattisonpark.com

Book Launch Party at Wonder Bar - Local Heroes: The Asbury Park Music Scene

Wednesday Night - July 30 there will be a book launch party for "Local Heroes: The Asbury Park Music Scene".

Doors open at 5 pm. Tickets are $15.00 at the door. The schedule:
- 7 pm introduction by the authors
- 7:30 pm the music begins with:
- Lance Larson, Matt O'Reef Band, Days Awake, Vini Lopez and the Steel Mill Band, Sonny Kenn.

As the night rolls on, there will be jam session with all the musicians and whomever else jumps in. This will no doubt be an interesting night at the Wonder Bar and in Asbury Park.

Don't miss it.

Summer 2008 on the Asbury Park Boardwalk

Wow.

I just got done telling someone I was around 3 when my parents first took me down to the Asbury Park Boardwalk. That was 1964.

In less then two weeks, my daughter graduates high school. It seems like yesterday that I asked her to write her opinions of what was then a lost Cookman Ave and Boardwalk. We'd park around the Palace or she'd go explore the old Howard Johnson's ramps. I'd tell her and my son ghost stories.

But that was the summer of 2002.

As each summer passed, I would tell them to just wait and see. Each summer passed with bits of progress here on there. Then one day, we were all eating dinner at Bistro Ole. Then the original Harry's Roadhouse. Then The Brickwall.

I sent a friend of mine who couldn't find a dress for her dance recital to Allen and Suzi on Cookman. She found two dresses and wound up winning around 13 ribbons in her competition.

So here comes summer of 2008. Madison Marquette, as the new partner in the redevelopment, presented plans a few short months ago to rehab the pavilions along the boardwalk. A new July 4 target date look like a reality as work continues.

A host of new shops and events will be here. The boardwalk will look and feel new. New streets, parking lots and much more. A new mini-golf course.

It's new. It's exciting. It's the new Asbury Park Boardwalk.

Take a drive. Spend a day or a summer.

Now you can.

A New Look for the Asbury Park Boardwalk

Madison Marquette is leading the renovations to the Asbury Park Boardwalk for a second year now. The boardwalk pavillions are have been completly gutted and are bring prepared to for new and returning operators.

Madison Marquette and the City of Asbury Park are working side-by-side to have these major renovations completed by Memorial Day Weekend.

Madison Marquette taken over as the managing partner for the boardwalk operations and since that time, have completed cleaning up the casino complex, installed a new roof and have plans to bring the casino back to life over the next two years.

Madison Marquette also is continuing work restoring Convention Hall and Paramount Theatre and creating a unique market atomshphere in the Convention Hall Arcade. Palsn for this summer also include a wading pool/glamour and small cabana deck along the boardwalk.

The summer of 2008 will be an exciting one in the new Asbury Park.

Come and find out why.

Madison Marquette - Asbury Park Plans Continue to Develop

The press release follows. What this shows is that Madison Marquette and Asbury Partners are committed to the City of Asbury Park as whole. Combined, these two companies have the capability to pull off of the largest redevelopment projects in one of the most challenging towns.

In addition to rebuilding the boardwalk and those properties in the redevelopment zone, Madison would like to create one united marketing effort for the city.

For what it's worth, I like the idea based on what we heard today. Hopefully, Madison Marquette, The City and Asbury Partners can work together to bring this phase of developing Asbury Park to a reality.

Press Release

FOR IMMEDIATE RELEASE
MADISON MARQUETTE AND ASBURY PARTNERS
OUTLINE UNIFIED VISION FOR RESTORING ASBURY PARK
Private Initiatives to Include Support
for Education, Public Safety and Waterfront Redevelopment

ASBURY PARK, N.J., Jan. 14, 2008 -- The much-anticipated revitalization of the Asbury Park Waterfront is about to take a giant leap forward according to Gary Mottola, president of Madison Marquette Investments and the managing partner of Experience Asbury, the joint venture between Madison Marquette and Asbury Partners that is responsible for the City's Boardwalk redevelopment efforts.

"We've been working for the last six months on a comprehensive plan for dramatically improving and transforming the entire Waterfront Redevelopment Area, and we're thrilled to announce that the pieces have come together and we're ready to go," said Mottola.

Mottola and Hugh Lamle, president of MD Sass and the managing partner of Asbury Partners, the Waterfront's Master Redeveloper, detailed their plans in an announcement at the newly renovated Paramount Theatre, which is part of Asbury Park's renowned Convention Hall.

"Hugh and I agree on two critical aspects of the redevelopment," said Mottola. "First, that the Waterfront redevelopment effort needs a single unified and coordinated vision; and second, that the efforts to revitalize the Waterfront will never be truly successful without the involvement of the entire community. In Asbury Park, the components of a successful redevelopment are heavily interdependent. The revitalization of the Boardwalk and the Waterfront, no matter how well executed, cannot be truly successful if the off-Boardwalk areas are dilapidated and unfinished; if Downtown is not thriving as well; if visitors to the City are concerned about their safety; if the schools are unable to provide a solid education; or if any segment of the community is struggling."

To address this need for a comprehensive community-wide effort, Mottola announced that Madison Marquette and Asbury Partners would sponsor the Asbury Park Initiative, a 5 part plan intended both to advance the Waterfront revitalization and to provide for a significant increase in support from private enterprise for the Asbury Park community.

The Initiative includes: 1) an extensive renovation of all of the Boardwalk facilities from the Convention Hall to the Casino Building; 2) major improvements to the off-Boardwalk portion of the Waterfront Redevelopment Area; 3) the creation of a Boardwalk-Downtown coalition to improve the coordination of marketing and public events and to realize upon the synergies of a coordinated merchandising effort; 4) a commitment for a substantial increase in private support for Asbury Park's schools and the City's community at large; and 5) increased private support for the City's continuing efforts to improve public safety. Implementation of the Initiative is expected to begin immediately upon City approval and to be substantially completed by next summer.

The Initiative

Madison Marquette and Asbury Partners have created a five-part program, to be implemented immediately upon City approval, and with a goal for substantial completion by summer of 2008.

Part I: The Boardwalk Renovation

Improvements to the Boardwalk for summer 2008 will be extensive, and will dramatically transform the entire Boardwalk experience. The architectural design for the improvements will be provided by David Mexico of the Rockwell Group. The Rockwell Group has earned an international reputation as arguably the most dynamic and creative architectural firm in the design of exciting new entertainment venues. The improvements will include:

1. Completing the upgrade of Convention Hall. The Paramount Theatre was restored last summer. Remaining Convention Hall renovations will include all new exterior windows, improvements to all interior and exterior storefronts, substantial upgrades to the Grand Arcade, new heating and air conditioning for the entire building, an entirely new roofing system, fire and life safety upgrades including stairways to the beach to accommodate exiting, interior beautification, and the rehabilitation of exterior and interior historic elements. Also scheduled are upgrades to the infrastructure of Convention Hall to accommodate major national promotions, including new bathroom and concession facilities and new sound and lighting systems.
2. Extensive re-imaging of the Boardwalk. New pedestrian-level lighting, a comprehensive graphics and banner program, a well-conceived Boardwalk vending program and a more pleasing, carefully controlled program for extending merchants onto their adjoining Boardwalk spaces will enhance visitors' perception and experience.

3. Renovation and re-tenanting of the Fifth Avenue Pavilion, completing plans already approved by City Council.

4. Renovation and re-tenanting of the Third Avenue Pavilion.

5. Renovation and re-tenanting of the First Avenue Pavilion.

6. The construction of an exciting public beach club on the site of the Second Avenue Pavilion.

7. Complete stabilization of the Carousel portion of the Casino building and reactivation of the Carousel space for public use in summer 2008.

8. Surface coating and beautification of the plaza adjoining the Casino building and First Avenue Pavilion so it can be used effectively for public purposes.

9. Restoration and beautification of all green spaces along the Boardwalk including well-designed recreational components, providing an exciting and dynamic experience for visitors strolling from Convention Hall to the Casino.

10. A comprehensive and extensive year-round marketing and public events program for the Boardwalk, with special emphasis on the summer season. Already planned are dozens of unique and traditional events, including a major triathlon in July, the return of the volleyball, road racing, and lifeguard competitions and other sports tournaments; kite festivals, fireworks displays, an enhanced Garden State Film Festival, premier showings of feature films as well as other film-themed programs, and ongoing music programming. An extensive effort will be made to attract additional filmmaking and music recording to Asbury Park.

11. Removal of all trailers along the Boardwalk, and replacing them with improved public restroom facilities adjacent to the First Avenue Pavilion and in the Convention Hall.

The Boardwalk will feature a spectacular array of new and newly-expanded tenants, including:
Tim McLoone's Supper Club, an exciting new restaurant and entertainment venue operated by Jersey Shore legend Tim McLoone
An extraordinary new Italian eatery by Joe and Mike Cetrulo, operators of Scalini Fideli, Sirena and other top Italian restaurants in New York City and New Jersey
A cutting edge Trek Bicycle concept store owned and operated by Kathy Pena of Brielle Cyclery
An all-American diner operated by Taka, Asbury Park's current master of Japanese cuisine
An amazingly hip lounge and club created by Russell Lewis (owner of the widely acclaimed Baker Boys Bakery) and his partner Paul Connolly. Russell will also be opening a new Baker Boys shop on the Boardwalk
An eclectic combination of a new-style Mexican restaurant, authentic surf shop, and creative art gallery to be concocted by surfer, restaurateur and philanthropist supreme Marilyn Schlossbach
An expanded panini and Italian delicacy shop operated by Kathy Mongiello, the Boardwalk's newly-famous Panini Lady
The reopening of Lance and Debbie's Wonder Bar, with a newly-designed exterior terrace and volleyball court along Ocean Avenue
Part II: Off-Boardwalk Waterfront Area

A series of new improvements will significantly upgrade and beautify the off-Boardwalk Waterfront area, creating an instant impression of progress in the redevelopment and providing a safer and more user-friendly environment. Five hundred new surface parking spaces, which will be paved, well-lighted and secured, will be created. Other improvements will include:

1. Removing and burying the overhead power lines on Ocean Avenue.
2. Adding lighting to the unlit west side of Ocean Avenue and the numbered avenues to provide a safer and more user-friendly environment.

3. Completion of the Wesley Lake bulkhead restoration and parking spaces.

4. Paving, securing, lighting and providing parking on the Block adjacent to the Casino, the block between Second and Third Avenue and the block between Fourth and Fifth Avenue.

5. Cleaning up and landscaping many of the currently vacant areas in the Waterfront Redevelopment Area.

6. Donating funds to the City for the restoration and landscaping Bradley Park.

7. Grading and beautification of the triangle block along Cookman to provide a more dramatic entrance from Downtown to the Boardwalk.

8. Topcoat paving of and increased lighting along Kingsley and the several of the numbered avenues, and the addition of curbing, to provide for a neater, safer environment and more orderly parking.

9. A coordinated program of graphics and signage to reinforce a strong perception of progress in the revitalization.

10. The complete reconfiguration of Cookman Avenue east of Kingsley and Ocean Avenue from the Casino to the Convention Hall to provide the pedestrian- and merchandising-friendly environment contemplated by the WRP.

Other major developments in the off-Boardwalk area include the recently-announced acquisition by Madison Marquette of the Kushner properties along Cookman Avenue and the plans by Paramount Homes to proceed with the next phase of its residential development in North Beach. "We will be submitting our application for formal approval of the Kushner acquisition to the City this week, and we intend to proceed with the next phase of the residential development there by next summer," said Mottola of Madison Marquette.
"We're excited about expanding our commitment to Asbury Park to include a well-designed residential component." Jeffrey Fernbach, president of Paramount Homes, added: "I'm pleased to confirm that Paramount Homes will be proceeding with its next phase of development. We have already received the approval of the Technical Review Committee for our 120 unit project and will be moving forward with the remaining approvals and the start of construction."

Part III: Cookman Avenue and Downtown District

Madison Marquette and Asbury Partners will sponsor a Downtown-Boardwalk Coalition to coordinate marketing efforts and to create a genuine synergy between the Downtown merchants and the Boardwalk venues. Initial members of the coalition will include Dan DiBenedetto, president of the Asbury Park Chamber of Commerce; two prominent Cookman Avenue merchants, Steven Troy of Robert Legere Homes and Marilyn Schlossbach of Market in the Middle; and Rob Ranuro of RDR Development, a prominent Asbury Park developer. Initiatives which may be undertaken by the Coalition include implementing a trolley service between Downtown and the Boardwalk (a service that already has been provided by Experience Asbury on many special dates over the past six months.)

Part IV: Schools and Communities

Recognizing that a comprehensive redevelopment initiative for Asbury Park must address the needs of the community overall, Madison Marquette and Asbury Partners, working closely with City officials and community groups, will expand their efforts in funding and sponsoring community programs and initiatives and will coordinate and encourage the involvement of other private businesses in these efforts. This will include:

Working with Tyler Blackmore, the principal of Asbury Park High School, to sponsor and support the newly-created Arts and Humanities Academy at the high school.
Creating a program that gives priority for employment to residents of Asbury Park and provides City residents with the opportunity to participate in the Waterfront revitalization. Specifically, any Asbury Park residents who may have lost their employment as a result of the recent halting of construction at the Esperanza will be given top priority for employment on Waterfront projects.
Part V: Public Safety

The Asbury Park Police Department, working with the New Jersey State Police and the Monmouth County Prosecutor, has mounted a strong campaign to improve public safety in Asbury Park. Although we recognize that public safety will always remain a government function, Madison Marquette and Asbury Partners will, both directly and in coordination with other private interests, offer to support this effort under the guidance of the Police Department and other enforcement agencies. One area where we can be of assistance is in the implementation of a video surveillance system in the City. Video surveillance has been shown to be a very effective tool in increasing public safety. Madison Marquette and Asbury Partners are willing to fund the gap needed to allow the immediate installation and operation of a video surveillance system in Asbury Park. Other areas of support will include:

Continuing the private security patrols in the Waterfront Development Area which are being funded by Asbury Partners and Madison Marquette, and coordinating these security efforts with the Asbury Park Police Department.
Continuing to fund an additional police presence in critical redevelopment locations.
In closing, Gary Mottola stated: "Asbury Park is a truly special place, a place with an emotional connection to virtually everyone in New Jersey. We're proud to be a part of what's happening here, and confident that this City will move forward to once again become a premiere resort and entertainment destination of the East Coast." However, Mottola was careful to point out the challenges facing the Initiative. "While we are confident that Asbury Park's Waterfront revitalization effort can succeed, we believe that success will be dependent on two critical factors: first, an immediate, unified development effort on a major scale; and second, the extensive involvement of the community in the revitalization, and the expansive support of the community by private enterprise."


Thank you.
David Dorfman
asburyboardwalk.com

Madison Marquette to the Rescue....

Asbury Park, New Jersey January 4, 2008 - Madison Marquette, a national developer of retail and residential real estate, announced today they have purchased redevelopment project which was started by The Kushner Companies.

The stalled project, known as Wesley Grove has 22 of 91 units sold and 2 other blocks slated for residential development, empty. A total of 750 units were planned by Kushner. Those that were built, known as the St. James - was considered by many as dull and did little to beautify the area.

According to an article on the ASbury Park Press January 4, Mottola said, "We think we can accelerate the whole process there,", "Since Kushner Cos. did a business strategy of exiting New Jersey, they didn't have the same level of excitement about Asbury Park as we have and which we can bring to this project."

"We're going to completely finish all the units, improve the overall look," Mottola
said. "The whole area will be cleaned up and beautified." Thank god. It needs to be cleaned up.

Madison Marquette's investment last spring in the city gave a boost to the boardwalk as new restaurants opened and the city's historic icons, Paramount Theatre, Convention Hall and the Casino, underwent renovation and restoration.

This announcement came a few weeks after Hoboken developer Dean Geibel and Metro Homes shut down its oceanfront Esperanza condominium site, citing a "national mortgage crisis" that had caused a setback for the company.

While there is a national slowdown in residential real estate, there is a string demand to create DESTINATIONS, especially since Asbury Park WAS a destination, IS a destination and will ALWAYS be a destination.

It takes vision, dedication, money, work and city that is able to communicate and work with developers.

The OCEAN and SAND are waiting.

Congratulations Madison Marquette.

Don't let anyone down. So far, you have a big fan club.

Asbury Park - August 4 and 5th

Asbury Park comes alive this weekend: FIRST SATURDAY NIGHT: The first Saturday night of every month is an exciting time in Asbury Park. Merchants are open late, there are sales along Cookman ave, music and more. Park Players, the Paramount’s resident theater group, will be entertaining downtown at Press Plaza. Shows are at 7pm and 8pm, and include excerpts from two upcoming shows, Parallel Lives and Forever Plaid. Cookman Avenue will be alive and Latin music will fill the street, courtesy of Market in the Middle and Robert Legere Home. Grande Tourismo will be performing on the street in front of Wish You Were Here. Come to Asbury Park and enjoy the excitement of the First Saturday of August. Also, this weekend: Saturday, August 04, 2007 Metro Lyric Series: The Barber of Seville - 8 pm Location: Paramount Theatre Saturday, August 04, 2007 Kite Festival - 12pm-6pm Location: The Boardwalk Sunday, August 05, 2007 Asbury Park Life Guard Tournament - 6pm-8pm Location: Beach at 4th Telling on Trixie will begin their tour with a midnight performance at The Saint in Asbury Park, New Jersey on August 4th, 2007.

Experience Asbury

New Entertainment, Dining and Shopping Options Debut as Madison Marquette and Asbury Partners Finalize Joint Venture Agreement

ASBURY PARK, N.J., June 14 /PRNewswire-USNewswire/ -- Madison Marquette
announced today the formation of Experience Asbury, a joint venture with
Asbury Partners to redevelop and revitalize the entire Asbury Park
boardwalk. The formation coincides with the commencement of major
improvement projects, including the rehabilitation of the famed Paramount
Theatre and Convention Hall.
"Summer 2007 marks the return of Asbury Park as a preeminent cultural,
dining, shopping and beach recreation destination," said Gary Mottola,
President of Madison Marquette Investments, the managing partner of the new
joint venture. The redevelopment zone stretches over 1.25 miles of
oceanfront property and includes Asbury Park's historic boardwalk,
pavilions, Casino Building and Paramount Theatre and Convention Hall.
Paramount Theatre Rehabilitation
Madison Marquette is near completion of a historic rehabilitation of
the historic Paramount Theatre. A grand reopening celebration is scheduled
for Friday, June 29 and will feature the debut of "Attention Span of a
Fly," an original performance from Kennedy Center Award-Winning New Jersey
playwright, Ben Clawson.
Larry Potter of Landmark Studio in Pittstown, New Jersey, is completing
the theater's restoration. The 1,500-seat venue was originally built in
1930 and placed on the National Register of Historic Places in 1979. It was
designed by the famed architecture firm of Warren and Wetmore and was
widely considered one of the most magnificent theaters of the early 20th
century. Anchoring the North end of the Asbury Park boardwalk, it is an
enduring symbol of the city's rich history and culture.
This summer the Paramount will house a variety of live performances. A
new in-residence theatre company, Park Players, will host a series of
plays. Christopher Barker, Executive Director of Highlands Regional
Playhouse in Allendale, New Jersey has founded the theatre company with his
brother, Jonathan Barker. "We were so excited about the restoration of this
theater and the entire boardwalk area that we created Park Players," said
Christopher Barker.
New Jersey's Metro Lyric Opera is sponsoring an opera series at
Paramount Theatre that includes two performances, Traviata on July 21 and
Barber of Seville on August 4. Additional individual concerts and events
are scheduled throughout the season.
"The Paramount Theatre is once again the center of Asbury Park's
cultural life," said Mr. Mottola. "These performances will breathe
important new life into summer nights at the boardwalk."
New Retail and Dining Options
Madison Marquette is adding several new retail and dining options for
boardwalk patrons this summer. In the former Howard Johnson's building,
successful restaurateur Gabe Marabella has opened Salt Water Beach Cafe, a
relaxed beach concept serving an upscale American menu. Outdoor seating
allows guests to enjoy the beach and boardwalk while dining and 'Boardwalk
Menu' allows beachgoers to satisfy their hunger without losing any time in
the sun.
"Asbury Park is officially reborn and I am looking forward to helping
usher in a new era," said Mr. Marabella, an experienced restaurateur best
known for his Marabella's Restaurants in Philadelphia and southern New
Jersey shore area.
New retail options include: Hot Sand, a glass-blowing artisan; Brielle
Cyclery, a bicycle shop; Cabana Club, a new entertainment club; Casa Di
Formaggio, a panini sandwich shop; and the Beach Bar. "These great
additions are just the beginning of our efforts to repopulate the
oceanfront with exciting new dining and retail offerings," said Mr.
Mottola.
Landscaping and Pavilion Improvements
Experience Asbury has already made significant improvements to the
landscaping and physical appearance of the Asbury Park oceanfront area. A
park-like setting has been created with green spaces now filling the areas
between the pavilions. Flowers and additional seating are also featured.
In front of the Paramount Theatre, a plaza has been created with custom
brick-work and ample seating where live music will be performed throughout
the summer. A portion of the Casino Building has also now been opened to
allow for passageway on the boardwalk. A beatification program has been
implemented for the pavilions and several surrounding buildings.
"The improvements are a fundamental part of making Asbury Park a
special destination," said Mr. Mottola. "They signify our commitment to
Asbury Park and are just a preview of the exciting changes now afoot."
About Madison Marquette
Madison Marquette is a Washington, D.C.-based investor, developer and
operator of retail and retail mixed-use real estate throughout the United
States. The company specializes in creating unique retail destinations that
respond best to consumer preferences. With regional offices in New York,
Philadelphia, San Francisco, Los Angeles, Minneapolis, Seattle, San Diego
and Ft. Lauderdale, Madison Marquette seeks investment opportunities in
growing markets. The company maintains a sophisticated in-house operating
capability and oversees 23 million square feet of retail real estate. This
diverse national portfolio includes many properties that Madison Marquette
manages and leases on behalf of third-party owners.

Asbury Partners and Madison Marquette Tie the Knot

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

Salt Water Cafe

Promising a "cool, hip cafe on the beach," Madison Marquette is set to open the new Salt Water Beach Cafe on schedule at 4 p.m. Saturday in the former Howard Johnson's on the boardwalk.

Gabe Marabella, a seasoned Philadelphia and South Jersey restaurateur, is the operating partner. Marabella has been married for 28 years to Mottola's sister.

Madison Marquette, which signed an agreement with Asbury Partners to take over the entertainment and retail redevelopment, still has to sign a developer's agreement with the city. Those negotiations are expected to be ongoing over the next month.

Last week, at the city's Chamber of Commerce luncheon (that I was at) Mottola said a refurbished Paramount Theatre will open July 1.

The Salt Water will start with seating on the first floor and is expected shortly to open the upstairs. Kevin O'Kane is the Philadelphia-trained chef.

For the first week, the Salt Water will be open daily from 4 to 11 p.m . By the following weekend, it will open for lunch with hours of 11 a.m. to 11 p.m. daily except for Tuesdays when it will be closed.

Dinners will offer small-plate items in the $12 to $16 range and entrees in the $20 vicinity.

The restaurant wants to draw in the beach crowd.

"If you're in your bathing suit, you need a shirt and shoes," he said. "We'll also have 50 outdoor seats and a boardwalk menu."

This is the beginning of restoring the 5th ave Pavillion with the closed bandshell on the 2nd floor. Earlier plans had called for the demolition of the structure.

Madison Marquette - Chamber of Commerce Luncheon

On May 17, 2007, Madison Marquette's Gary Mottola gave a brief presentation of their plans as managing member of Asbury Partners in restoring the beachfront and more.

He plans to have the Paramount Theatre opened once again on July 1 with a number of events planned. One being bringing back the Metro Lyric Opera.

David Rockwell, New York Archtitect, has been engaged to do preliminary concept work. The planned entertainment zone near Wesley Lake, may be redesigned to adjust the retail center into the new and renovated Casino building on the boardwalk. The Casino project would not happen until 2010.

He hopes to make Ocean Avenue as well as the boardwalk a friendly walkway with a mix of retail, entertainment and special events. Walking the boardwalk yesterday, one can see Madison's input into this massive project. The streetscapes are being completed ahead of schedule and items scheduled to be finished after more building occurred will be completed first, even though it may have to be redone at some point in the future.

Mr. Mottola also has a fondness for the Jersey Shore, having grown up in Bergen County, he recalls his past summers in the Beach Haven area where he still goes. Looks like Gary will be walking the boardwalk this summer, which is welcomed. He says he knows what the Jersey Shore is - it's not a shopping center in Kansas or in Texas. This IS the Jersey Shore. This is Asbury Park.

Welcome, Mr. Mottola and Good Luck. We're counting on you.

Madison Marquette, making a difference in Asbury Park.

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.