Metro Homes Still Committed To Completing Project
By ELLEN CARROLL
 Coaster Photo: In December work stopped on the Esperanza high-rise on the oceanfront in Asbury Park. |
A Metro Homes official said his company is committed to completing a high-rise at the site of the Esperanza on the oceanfront in Asbury Park, but it will be a few months before plans are firmed up.
“We are working our way through our difficulties,” said Dean Geibel, a Metro Homes principal. “We have been working very closely with the city and they are giving us more time to reorganize. We have talks going with some new people, some new partners who will be involved.”
Geibel said the project was not being sold.
“I am working every day on it,” he said. “I’m there all the time. The city has been very supportive. They realize it has been a difficult time. We are working on a number of different plans simultaneously.”
Construction on the luxury high-rise condominium building was stopped Dec. 7 when Metro Homes said it couldn’t continue due to the softening real estate market. The project, as approved by the city, featured restaurants, a gym, retail businesses and 24-hour concierge. Geibel said he hopes to continue at the site using the construction already there.
“I don’t want to tear down what we already have there,” he said. “We may make modifications to the plan. But we are still committed to turning out a quality building. That is what we are known for.”
Geibel said he could not be more specific about future plans for the site.
“We are not that far along yet in our decision-making,” he said. “We will be cleaning up the site for the summer and we will be putting up new signs.”
Geibel praised Madison Marquette for its work at the beachfront specifically on the pavilions on the boardwalk.
“Madison Marquette was the missing link,” he said. “It’s happening. It’s not going to go backwards anymore.”
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May 6th, 2008 at 4:16 pm
Zero credibility. Geibel and Metro Homes shafted the city as well as the people who bought condos nearby on the strength that the Esperanza would be built as advertised. Whatever the new scheme may be, I hope the city demands, guarantees and bonds. Personally, I’d like to see Madison Marquette to step in and make Metro Homes step aside.