Mayor tells Metro Homes to get back to work or get out of the way
By JOANNE L. PAPAIANNI
The city of Asbury Park declared Metro Homes, the developers of the Esperanza, in default this week and gave them 72 hours to resume working on the luxury beachfront condominium complex.
Work on the project was stopped Dec. 7 and at the time Dean Geibel of Metro Homes said he was in sensitive negotiations regarding the project.
Geibel also said the shut-down may only be temporary.
In a Dec. 18 letter to Geibel on behalf of the City Council and residents, Mayor Kevin Sanders said, The city has suffered incalculable damages and will do everything within its power to correct the harm that you have caused to this community.
The letter details five instances of Metro Homes being in default of its agreement with the city including being incapable of financing the project, discontinuing work on the project after promising not to suspend or discontinue work even in the event of commercial frustration of purpose, failing to meet the deadlines and time frames and failing to inform the city before the decision was made to stop work on the project.
In a statement issued Wednesday Sanders said Metro Homes needs to get back to work on the project or get out of the way and let someone else do the work.
Sanders also said, They have violated their commitment to the people of Asbury Park.
The decision to stop work on the project and the citys response brings to mind a similar situation at the same site. Redeveloper Joseph Carabetta began a high-rise residential project at the site in the 1980s and then abandoned it. Deputy Mayor James Bruno gave assurances Wednesday Sanders said Metro Homes needs to get back to work on the project or get out of the way and let someone else do the work.
Sanders also said, They have violated their commitment to the people of Asbury Park.
The decision to stop work on the project and the citys response brings to mind a similar situation at the same site. Redeveloper Joseph Carabetta began a high-rise residential project at the site in the 1980s and then abandoned it. Deputy Mayor James Bruno gave assurances Wednesday that circumstances are different now.
This council will not allow this to become another C-8, and we will adhere to every word of the agreement we have with them allowed by law, he said.
Mayor Sanders echoed similar sentiments in his response promising the city will take any and all measures necessary to insure that Metro Homes fulfills its legal and moral obligations to the city.
He also expressed confidence that the city has changed in recent years and those changes are here to stay.
Speaking of the recent championships of the high school and Pee Wee football teams he said, Our community spirit is stronger than it has been in many years.
Sanders also cited advances in the business community that have left an indelible mark on the city.
We have new businesses and new investors coming to Asbury Park all the time, and that will not change. Weve turned the corner and were not going back, he said.
Councilman Ed Johnson, said, I join the members of a united City Council, and indeed the united community of Asbury Park, in calling on Metro Homes to immediately reinstate the construction project and expedite it to its successful completion.
Quite frankly, our community is calling on Metro Homes to live up to its agreement with the City of Asbury Park and keep its word to the people of Asbury Park nothing more and nothing less.
To contact Joanne Papaianni email to joanne@thecoaster.net.
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Developers are trying to do too much too soon. Everyone is trying to “cash in” on asbury park at the same time and the demand is just not there yet. There are so many things available all at once, asbury blu, the mattison, steinbach etc etc etc, nothing is moving, the town is just saturated with condos, homes and townhomes for sale. Too, too much.
City Council needs to get tough to make sure the Esperanza gets built, with or without Metro Homes. The only way Asbury can continue to evolve from a war zone to a desirable area is to attract new taxpayers. Build it, they will come.
Esperanza was on the market over a year before any of the other places that Frank mentioned. They were the only show in town for luxery condos. But, they missed the market. The units were overpriced, just look at comp prices of the other places Frank mentioned on a dollar per square foot basis.
We looked at everything Asbury Park has to offer. We actually toured everything over the summer of 2007. Up to that point, nothing was selling, and is still moving very slowly, that’s why Metro homes have temporarily haulted construction. Can anyone blame them? If things already built are not selling, why would anyone continue to build more “on spec”? Yes, the esperanza was more “pricey” than the ones in town like “the blu” and the “mattison”, but you do have to pay a price to live “on the ocean” with indoor parking etc etc, that all comes at a price. The “blu” has outdoor parking and is not in such a great area of town and the “mattison” does not have any parking at all. The “steinbach” has parking down the road in a public garage, who knows if that’s safe at all? The town is just saturated and the prices way too high for a “town in transition”. Of the few that have been sold at wesley grove and north beach and the blu, how many people are actually “living” there? “for sale” signs are already up at wesley grove, probably investors who thought they would make a killing buying at pre-construction prices. Of the few that sold at the blu, some are already “for rent”. Sad fact is that the town needs to stop the crime and shootings on the street and improve the school system and build some nice shopping stores and supermarkets near the downtown before any families will even consider “living” in Asbury park full time. The statement, “build it and they will come” is not true at all, besides in these hard financial times who has that kind of money to take that big a risk? Maybe long branch had the right idea, level everything and start from scratch, after all, they are packing them in now, we had to wait an hour to have breakfast there on a sunday morning.
If Steve is stating that the “Esperanza” did not sell because of the price, then what is the reason that nothing is selling at “North beach”, “the mattison”, “the blu”, or wesley grove among all the others? This town is just not ready for all of these developments. First, the town must fix all the problems that I previously mentioned. Woman, children and families must first feel safe walking the streets before anyone will ever “Live” here.
The city must stop all the crime and shooting on the streets. Also the school system needs to fix all the problems they have before “families” will live here. I want this town to come back better than ever, but it always seems like 1 step forward and 2 steps back. Asbury Park has improved 100% from what it was, but still has a long, long way to go. So many people just tried to “cash in” and make a fortune, buying old crack house building for nearly nothing and turning them “condo” and trying to make million dollar profits. Too much, too soon.