The Asbury Park Planning Board gave preliminary and final approval to waterfront redeveloper iStar Residential for the construction of a 16-story high rise on Ocean Avenue at the long vacant Esperanza site.
According to Board Member Yvonne Clayton all board members were in favor of the plan.
“They were all in favor and think it’s a great project going forward,” she said.
Clayton, herself, had high praise for the project.
“It’s a beautiful design and it’s well thought out,” Clayton said.
Clayton also said she is glad to see the project moving forward because the building has been vacant and half built for several years.
“We’re very fortunate this is happening at this time,” she said.
Clayton said developers projected that the project will be completed in two to tow and half years.
“It’s been dormant so long, to see it moving forward, we’re happy,” she said.
Clayton said five professionals testified at the meeting Tuesday night including the architect, landscape architect and iStar Senior Vice President of Development Brian Cheripka.
The mixed use project calls for hotel rooms, residential units and public space.
It also calls for much needed 111 public parking spaces out of the 414 included in the design. Additionally the public parking spaces will have separate entrance and exits locations.
Residential units will include 1,2,3, and 4 bedroom homes.
Clayton said the plans call for a four story podium which will include it’s own landscaping with a pool and open space.
“Most of the comments from the board and the public were positive,” Clayton said.