The Coaster
Saturday, June 10, 2023
No Result
View All Result
  • Browse News by Town
    • Allenhurst
    • Asbury Park
    • Avon
    • Bradley Beach
    • Deal
    • Interlaken
    • Loch Arbour
    • Long Branch
    • Neptune
    • Neptune City
    • Ocean Grove
    • Ocean Township
    • Tinton Falls
  • About Us
  • Advertise
  • Contact Us
Subscribe / Renew
  • Browse News by Town
    • Allenhurst
    • Asbury Park
    • Avon
    • Bradley Beach
    • Deal
    • Interlaken
    • Loch Arbour
    • Long Branch
    • Neptune
    • Neptune City
    • Ocean Grove
    • Ocean Township
    • Tinton Falls
  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
The Coaster
No Result
View All Result
Home Asbury Park

5-Story Condo Project Planned For Asbury Park’s Seventh Avenue

by Carol Gorga Williams
November 30, 2022
in Asbury Park
Beach Cinema Still for Sale
722
VIEWS
Share on FacebookShare via EmailShare on Twitter

By CAROL GORGA WILLIAMS

After the automatic termination of a redeveloper’s agreement for failure to secure all government approvals within a year of signing, Asbury Park has authorized a new document that permits the construction of a five-story condominium project on Seventh Avenue.

The penthouses are estimated to price out at a maximum of $1.39 million.

Under the agreement, a new entity with largely the same participants will endeavor to construct the condominium project featuring 14 units and a rooftop terrace on 202-204 Seventh Ave. which is now a vacant lot after the former developer demolished an existing one-story commercial building on the site.

The redeveloper would have to make a “good faith” effort to draw 15 percent of its labor force from among local residents and establish one paid internship in either property management, real estate development or construction management. There is an additional requirement for the redeveloper to create two apprenticeships and establish four scholarships of $2,500 each for vocational or academic education for which the interns and apprentices would  become eligible.

Because all previously secured permits will carry over, the project will not have to get additional reviews from the Technical Review Committee or the Planning Board. An existing Coastal Area Facilities Review Act permit will govern without the need for additional CAFRA review, according to the subsequent redevelopment agreement. The Planning Board on July 26, 2021 granted preliminary and final site plan approvals, bulk variances and design waivers for the project.

The updated agreement is between the city and Asbury Partners LLC and 202/204 7th Ave Urban Renewal LLC. The urban renewal company was formerly known as 202 Seventh Avenue LLC.

The project’s five-levels will stand 70 feet tall with a garage on the ground floor. The building will be 80 foot wide and 140 feet deep. There will be space for 23 vehicles in the garage. The first floor will boast a lobby with space for bicycles, beach chairs, umbrellas and surfboards.

The rooftop will include a sitting area with lounge chairs, barbecue, dishwasher, counter and sink.

On the second, third and fourth floors, there will be six two-bedrooms measuring at 1,500-square-feet  each and six two-bedroom units including dens at 1,725-square-feet. On the fifth floor, there will be two two-to-three bedroom units measuring 2,600-square-feet with 1,200-square-feet of deck space.

Each unit will have a balcony.

The rear penthouse units on the fifth floor would cost $1,295,000 while the front penthouses would cost $1,395,000, according to the estimates contained in the agreement while on floors two, three and four, the rear units would cost $845,000 while the front units would cost $945,000 There will be six units on each of those floors.

The redeveloper would pay $2,210 for each unit toward the city’s affordable housing requirements.

Related Posts

In Asbury Park School Budget Features Substantial Tax Boost

In Asbury Park Curriculum to Feature Rock and Jazz History

June 7, 2023
Stabbing Incident at Asbury Park High School

Asbury Park Man Charged With Kidnapping, Luring Girl, 11

June 7, 2023
Words and Voices from Asbury Park’s History Presented at Crane House

Words and Voices from Asbury Park’s History Presented at Crane House

June 5, 2023
In Asbury Park School Budget Features Substantial Tax Boost

In Asbury Park School Officials Discuss Resurrecting Alternate School

June 5, 2023
Condominium Complex Planned Adjacent to the Wonder Bar

Condominium Complex Planned Adjacent to the Wonder Bar

May 24, 2023
Beach Cinema Still for Sale

Asbury Park to Receive $526,000 In Funding to Support Local Businesses

May 22, 2023

Trending This Week

Miller’s Ale House Now Open in Ocean Township

Miller’s Ale House Now Open in Ocean Township

June 7, 2023
Intrigue Continues Over Anonymous Requests

Bradley Beach Mayor Sues Council

June 6, 2023

Ocean Grove Burglar Arrested

May 31, 2023
In Asbury Park School Budget Features Substantial Tax Boost

In Asbury Park School Officials Discuss Resurrecting Alternate School

June 5, 2023
Bridgefest Concert by We The Kingdom Bridgefest Concert by We The Kingdom Bridgefest Concert by We The Kingdom

Advertisement

Advertise Online with The Coaster

Advertise on The Coaster to reach countless new customers for your local business.

START ADVERTISING TODAY

E-mail Newsletter

Sign up to get a free weekly newsletter to your inbox.

Subscribe

Contact Us

The Coaster
1011 Main St
Asbury Park, NJ 07712
Phone: 732-775-3010
FAX: 732-775-8345
editor@thecoaster.net

Email Newsletter »

All Articles

Search Our Site

No Result
View All Result

© 2023 The New Coaster, LLC. All rights reserved. • Privacy Policy

No Result
View All Result
  • Browse News by Town
    • Allenhurst
    • Asbury Park
    • Avon
    • Bradley Beach
    • Deal
    • Interlaken
    • Loch Arbour
    • Long Branch
    • Neptune
    • Neptune City
    • Ocean Grove
    • Ocean Township
    • Tinton Falls
  • About Us
  • Advertise
  • Contact Us
Subscribe / Renew

© 2023 The New Coaster, LLC. All rights reserved. • Privacy Policy