New Condos and a Hotel Coming to Asbury Park
The "Asbury Park comeback" continues with news of new real estate and a hotel that will rid Asbury of an eyesore that has been around for nearly ten years.
The Esparenza site, aka the ugly unfinished mass of concrete and beams near the waterfront is getting a much needed and long overdo makeover.
iStar Financial, responsible for the 28 Vive townhomes on Kingsley and Asbury, is set to erect a 16-story tower housing condos, a hotel, retail spaces and a parking garage at the Esperanza site.
According to iStar, specifically, the $178 million project will include 128 residential units, 58 hotel rooms, and 21,928 square feet of retail space. Storefronts for the retail spaces will face all four bordering streets.
There will also be an enclosed three-story parking garage with 426 spaces.
Other proposed amenities include an outdoor pool and bar area, and a 61,000 square-foot penthouse.
When finished, the building is expected to be one of the tallest at the Jersey Shore.
All that's needed now is the towns OK.