By PAUL BOOTH
Asbury Park is now a step closer to realizing its vision for a revitalized Springwood Avenue thanks to an agreement reached between the city and Asbury Shores, the company of the late developer Philip Konvitz.
The city agreed to pay $700,000 to Asbury Shores for 50 lots on Springwood Avenue, lots left vacant after Konvitz’s company had failed to develop them more than a decade ago.
The city is to use money from the $2 million it has received from developer Asbury Partners for affordable housing and community development for the purchase of the land.
Superior Court Judge Louis F. Locascio mediated the settlement, which the City Council agreed to last month and approved at their most recent public meeting.
The city entered into the 1990 agreement with Asbury Shores to develop 75 units of affordable housing along the depressed area of Springwood Avenue from Memorial Drive west just beyond Atkins Avenue. Only 15 units were ever constructed, and since that time the city has been fighting to get the land back.
“The vote you just witnessed is a historic resolution for this city. Since July 4, 1970 Springwood Avenue has either been blighted or underdeveloped,” said City Manger Terry Reidy. “This settles litigation with Asbury Shores and returns to the city properties that were otherwise being neglected.”
The agreement is not a sure thing, however, as a third party, Somerset Development Corporation of Lakewood, has a 45-day window to file an appeal that could hold up the process.
Somerset had contracted to buy the vacant land from Asbury Shores to build market rate housing in 2002, but when Asbury Park residents overwhelmingly objected to the Springwood Avenue Redevelopment plan in 2005, an entirely new plan for Springwood Avenue was developed.
The city continued to negotiate with Somerset to develop land as part of the new Springwood Avenue Redevelopment plan, but, according to Reidy, when the city asked for good faith money to show that Somerset was actually interested in developing something rather than just holding the rights, “they walked away from the deal,” Reidy said.
“We didn’t want to go from one situation where we had a developer holding land and doing nothing, right into the same situation,” Reidy said.
In 2007 Somerset sought to get Superior Court Judge Lawrence M. Lawson to force the city to transfer Asbury Shores’ rights over to Somerset. Lawson ruled against Somerset in that case declaring that they had no rights to the properties. It is that decision, and the subsequent agreement negotiated between the city and Asbury Shores that Somerset can still appeal.
The city meanwhile is anxious to get things started on Springwood Avenue.
“Those lands are sort of the crown jewel of Springwood Avenue,” said city Councilman Ed Johnson, who was instrumental in developing the revised Springwood Avenue Redevelopment plan.
“They were the missing piece and now it’s full speed ahead.”
Johnson said the land acquired will be the site for the so called Gateway to Springwood, with mixed-use retail and residential properties, as well as areas for open space recreation parks.
Read more about your town by picking up The Coaster at your local newsstand or subscribe today.
Published every Thursday.
