News & Press Releases

Archives 
 
Categories 

Asbury Park changes are Breathtaking says NJ Secretary of State

July 22nd, 2008
News

app.com

REPRINTED COURTESY OF THE ASBURY PARK PRESS & GANNETT CO> NEWSPAPERS


July 22, 2008

An official trip to the Shore

By NANCY SHIELDS
COASTAL MONMOUTH BUREAU
“See how nice our beaches are?” city Commerce Director Thomas Gilmour asked New Jersey’s Secretary of State.“Spotless, absolutely spotless,” Nina Wells answered.

Take her at her word. Wells said she came to the city Monday because it had been a few years since she was in Asbury Park and wanted to see for herself what people are talking about.

Gilmour took Wells and Nancy Byrne, executive director of the New Jersey Office of Travel and Tourism, on a tour of Madison Marquette’s renovated Convention Hall, Paramount Theatre, boardwalk shops and restaurants, the city’s boardwalk and and its beach, as well as the downtown Cookman Avenue restaurants and stores, The Griffin condominium and office building, and Market in the Middle, where they ate lunch.

“The changes are just breathtaking,” said Wells, a lawyer who lives in Livingston and is responsible for promoting and preserving the history, arts and culture of the state. “A lot of people don’t know how great it is.”

“It’s like being in a New York City neighborhood but on the ocean,” said Byrne, who lives in Red Bank and is about to move to Oceanport.

Wells said she is promoting tourism at the shore “and Asbury Park, in particular, because the transformation is incredible.”

Travel and tourism bring $38 billion into the state, she said. One out of nine jobs is travel- and tourism-related.

“I’m encouraging our residents to stay in New Jersey,” Wells said. “You don’t need to go anywhere else when you have all this.”

On a visit to Posh Den, which is showing Timothy White’s celebrity photographs until the store’s artifacts and home furnishings arrive, store partner Ray Werts said he has been in Asbury Park for eight years. He is one of the many members of the gay community who came to Asbury to invest in the city and help to rebuild it.

The past weekend featured a large gay and lesbian presence with the seventh annual Road Trip parties, he said, but at the same time, he saw a strong family presence on the boardwalk, which gave him great satisfaction.

“Seeing the families come down — that’s a sign the gay community did what it was supposed to do,” Werts said.

“We tried to create buzz the last five years, but this is our summer,” Gilmour told Wells.

“It’s one of the most special boardwalks, I think, in all of New Jersey,” Wells said.

Downtown, Marianne Schell, a real estate agent with the John C. Conover Agency, gave the state visitors a tour of the the Griffin building, which has 21 residences on Cookman starting at $449,000. The building, owned by RDR Properties, also will house the first new bank in the city in decades. Rumson-Fair Haven Bank and Trust Co. soon will move in new furniture for Community Bank of Asbury Park.

“It’s great to have someone with such a wide perspective get so excited about Asbury Park,” Schell said of Wells’ visit. “I think she was totally genuine.”


ASBURY PARK: Reborn and rediscovered

July 7th, 2008
News

REPRINTED WITH PERMISSON OF THE ASBURY PARK PRESS -        A GANNETT  PUBLICATION

July 6, 2008

ASBURY PARK BOARDWALK SPRINGING TO LIFE

By SHANNON MULLEN
STAFF WRITER

There’s a real buzz these days about a new show featuring a group of imaginative designers and swarms of construction workers racing against the clock.

Call it “Extreme Makeover: Boardwalk Edition.”

People have been watching it for months now, ever since the redevelopers of the city’s oceanfront, reacting to the downturn in the real estate market, shifted their focus from luxury condos to a fast-track revitalization of Asbury Park’s famed boardwalk.

“We’ve accelerated probably a three-year project into six months,” said Gary Mottola, managing partner of Madison Asbury Retail, the joint venture between Asbury Partners and marketing firm Madison Marquette that’s spearheading entertainment and retail development along the mile-long boardwalk.

The work is progressing, and new businesses are opening even though the city and the developers have yet to sign a new redeveloper agreement, which was supposed to be in place before the new venues came on line.

While negotiations continue, hard hats are everywhere. Workers are transforming the boardwalk’s dilapidated pavilions into dramatic new spaces to house dozens of upscale restaurants, bars, boutiques and other year-round businesses. They’re striping new, freshly paved parking lots throughout the oceanfront area, and rolling out the green carpet for a new miniature golf course at Third Avenue that opens this weekend. They’re digging up and replacing old pipes and utility lines, bulldozing blighted buildings near the boardwalk and restoring the copper ships, plaster mermaids and sea monsters adorning the Convention Hall-Paramount Theatre complex, part of an ongoing, multimillion dollar upgrade of the long-neglected historic landmark.

“It’s gorgeous,” said Janice Cunningham of Philadelphia as she took in the view of the building’s exterior from the outdoor balcony on the second floor of the Paramount Theatre, prior to a sold-out concert by Tony Bennett June 28. Surveying the bustling boardwalk panorama below her, she said that after years of eyeing a condo here, “I’m ready to invest.”

For years, backers of the city’s ambitious redevelopment plans have hung their hopes on the adage, “If you build it, they will come.” They’re encouraged that even while the hammering, sawing, painting and digging is still going on, lots of people are coming to the boardwalk.

“As each business opens, it’s just getting busier and busier,” said Greg LaPlaca, a potter, who opened his 2,600-square-foot gallery and workshop, called LaPlaca Pottery Works, in the renovated Fifth Avenue Pavilion on June 20. The next day, he was still doing a brisk business at 1 a.m. when he decided to call it a night. “I was just tired,” he said.

Business is also heating up next door at Hot Sand, a glass-blowing studio now in its second summer on the boardwalk. The night of June 28, a dozen or more people gathered in the studio to watch as co-owner Paul Elyseev heated a blob of molten glass to 2,100 degrees, then carefully poured the flaming liquid into a sand impression of the handprints of sisters Margaux, Stephanie and Julia Winchock, ages 10, 7, and 4, of Bridgewater.

“Oh, man, you see the parking lot? It’s unbelievable,” Elyseev, his brow beaded in sweat, said afterward, gesturing toward crowded Ocean Avenue. “And the cars? It’s all high-end luxury cars.”

To be sure, at least a few hundred of those luxury cars belonged to ticket-holders to the Tony Bennett concert, which benefited the Boys & Girls Club of Monmouth County. The presence of such an iconic entertainer here, though, testified to the marketing muscle that Madison Marquette has brought to the redevelopment effort. (The next big act: Bob Dylan, coming to Convention Hall Aug. 13.) And even after Bennett took the stage, shortly after 8 p.m., the boardwalk remained crowded.

Bennett’s show wasn’t the only attraction that night. A few blocks away, The Stone Pony nightclub was jammed for a big outdoor rock concert, and a weekend jazz festival was just letting out across town — emblematic of the diverse, multivenue synergy the city and its developers hope to sustain year-round, not just during the summer months.

Gradually, the number of nightlife options is expanding along the boardwalk, though not as rapidly as some would like.

That Saturday night, shoppers browsed the not-quite unpacked Asbury Galleria in the Third Avenue Pavilion and sought relief from the heat at the new Eddie Confetti ice-cream shop in the renovated Fifth Avenue Pavilion. Next door, diners had to wait for an outdoor table at the Salt Water Beach Cafe, which occupies the former home of New Jersey’s last Howard Johnson’s restaurant. Upstairs, Tim McLoone’s Supper Club, an upscale nightclub, was celebrating its opening night, and O’Toole’s Irish Pub, a new bar inside the arcade area between the Paramount Theatre and Convention Hall, where Biggie’s Clam Bar, the Baker Boys bakery and several other businesses have yet to open, was coming to life.

At The Beach Bar, a trendy open-air lounge on the veranda along the south side of Convention Hall, Brian and Maureen Madigan of Verona, who were renting a house in Bradley Beach, were enjoying cocktails as their three young daughters played nearby on a bed-like cushioned platform.

“I love it; it’s great,” their father said of the atmosphere. On the beach nearby, a group of young men tossed a football and several spirited volleyball matches were under way.

Meanwhile, the city’s two mounted police officers were posted at the southeast corner of Bradley Park, opposite the Convention Hall complex, and other officers quietly patroled the boardwalk.

“Everyone was cool; there were no incidents,” City Manager Terence Reidy, who visited the boardwalk that night, said afterward.

The boardwalk has seen large crowds in recent summers, Reidy noted, but the expectations are higher this year. One positive indicator: Beach badge sales are up about 25 percent, he said.

“Of course we’d like to see more things open sooner, but they’re coming along,” Reidy said of the progress on the boardwalk. “We’ve had inspectors out every day making sure businesses can open up as soon as they’re ready.”

So far, because of the absence of a new redeveloper agreement, the city has granted only temporary certificates of occupancy to the new boardwalk businesses that will allow them to stay open through Sept. 15. Other recent openings include Brielle Cyclery, the Style Rocket fashion boutique and the Shore Fitness gym.

Biggie’s Clam Bar, which was still under construction this past week, was trying to open this weekend, too, but Reidy wasn’t sure its operators could get their approvals in time. On the southern end of the boardwalk, a few of the retail shops in the First Avenue Pavilion, which is still being renovated, could open in the coming days, as well, Reidy said, but the upscale nightclub and restaurant that will anchor the pavilion, designed by well-known architect David Rockwell, aren’t finished.

Rockwell also designed the white “pods,” constructed from corrugated steel shipping containers, that have sprouted along the boardwalk this summer to house smaller businesses such as Renzo’s Cookie Pie.

Talk about fast track: Owner Chris Renzo, whose signature product is a quarter-pound oatmeal cookie “stuffed with all kinds of fun fillings,” only began painting the interior of his then-empty pod on Tuesday, but he hoped to be up and running this weekend, adding one more flavor to the boardwalk’s evolving batter.

Asbury Park Pooch Wins at Westminster

February 12th, 2008
News

 

 REPRINTED WITH PERMISSION FROM THE ASBURY PARK PRESS - A GANNET NEWSPAPER


February 12, 2008

JAKE EARNS A STEAK

BEST OF BREED: Greyhound from Asbury Park wins, then bows to beagle

By SHANNON MULLEN
STAFF WRITER

He was already a celebrity in downtown Asbury Park, and now Jake the greyhound has gone national.

The 3-year-old greyhound-in-residence at Asbury Bark, a pet boutique at 535 Bangs Ave., represented his breed in the hound group competition Monday night during the live national television broadcast of the Westminster Kennel Club Dog Show at Madison Square Garden.

Alas, he didn’t win — heavily favored Uno, the nation’s No. 1 large beagle, did, advancing to tonight’s Best in Show competition — but he distinguished himself just the same, having emerged as Westminster’s best greyhound earlier in the day Monday, besting seven other dogs.

“He beat the top greyhound in the country,” his co-owner Jeff Winton, 50, said after the breed judging. “He showed really well. He loves life. He’s always walking up and down Cookman Avenue.”

Winton’s partner, Jim Modica, 51, opened Asbury Bark three years ago. The couple own a house on Fourth Avenue in Asbury Park as well as a 7-acre farm in Long Valley, Morris County.

“So he’s got the best of both worlds,” Winton said, referring to Jake’s love of romping in the countryside and running along the boardwalk.

Modica and Winton, who also showed a whippet named Matthew on Monday, have shown dogs for the past 17 years and have competed at Westminster at least seven times previously, but Jake was the first to win best of breed. He won best of opposite sex in the greyhound competition at Westminster last year.

Modica and Winton co-own Jake with Vanessa Weber of Connecticut.

After the breed judging, Jake, whose official name is Ch. Classic Field of Dreams, took a well-deserved snooze in his crate in the benching area in the lower level of Madison Square Garden, while Winton accepted congratulations and Modica called friends and customers on his cell phone to spread the good news.

“I’m thrilled,” Modica said. “He walked in the ring, his tail was wagging, his head was up. He loves it.”

Jake’s win propelled him to the hound group final, where he was up against 25 other best-of-breeds winners, including Link, a smooth-haired standard dachshund owned by Josh Caporale and Fred and Carol Vogel of Waretown.

2007: Significant Decrease in Crime in Asbury Park

January 25th, 2008
News
REPRINTED:  COURTESY OF THE ASBURY PARK PRESS, A GANNETT CO. NEWSPAPER

January 24, 2008

Report: Asbury crime rate down

CITY’S POLICE CHIEF: Releases annual report REASONS: More cops, better technology cited

By NANCY SHIELDS
COASTAL MONMOUTH BUREAU
More police officers and computer crime mapping are two reasons why the city saw a significant drop in crime in many categories in 2007, Police Chief Mark Kinmon said in his annual report released this week.
According to the statistics the department reports to the FBI each year, the city had 1,072 serious crimes — murder, manslaughter, rape, robbery, aggravated assault, burglary, theft, auto theft and arson — compared to 1,313 in 2006, 1,316 in 2005 and 1,428 in 2004.

The city had 441 simple assaults, the lowest in a decade, down from 535 in 2006 and 466 in 2005.

Simple assaults must be included in figures provided for the separate New Jersey crime reports. Thus, the total crime offenses for the state unified crime reports is 1,513, down 335, or 18.1 percent, from last year. In 2005, the number was 1,782, and in 2004, it was 2,019.

“We’re not here to mislead anyone or make people believe we live in a perfect world,” Kinmon said in an interview Tuesday. “What’s important for people to know is we’re not going to tolerate what’s occurred here in the past. . . .

“The decrease in crime in 2007 just shows us that we’re heading in the right direction and tells you a little about the effect members of the police department are making,” he said.

“We’re going to continue to improve,” the chief added. “It’s easy to say crime is down in 2007, but that’s not going to help us if next year we’re back up. We’re not going to let up.”

Kinmon said the City Council approved funding last year to add eight full-time officers to the force, for a total of 90. Kinmon was able to increase the street-crimes unit to 10 officers, from four. The unit made 899 arrests in 2007, up 321.

Kinmon said police were able to improve their analysis of crime patterns through the use of data-crime mapping in its technical services unit, which show locations, time of day and developing trends. That allowed police to address troubled areas quickly, either with foot patrols or plain clothes officers, an approach similar to police COMSTAT programs used in a number of cities.

Murders decreased by two, to six. Kinmon said the figure does not include the death of a 30-year-old-man who was punched in the head last May, despite the Monmouth County Medical Examiner’s Office classifying the death as a homicide.

Thefts totalled 410, down 129, the lowest in a decade. Burglaries decreased by 49, to 235. Ten years ago there were 696 thefts and 337 burglaries.

Aggravated assaults totalled 150, down 28, though those involving guns increased by 14, to 40. Also, although robberies went down from 193 to 184, those involving a gun increased by 13, to 54.

However, authorities recovered 61 guns and arrested 46 people connected to those weapons, Kinmon said, about 15 more guns confiscated than the previous year.

Reported stolen cars were 72, down 21, and the number of arsons decreased from 11 to four.

Aggravated sexual assaults increased by four, to 11. Kinmon attributed the increase in part to spousal assaults.

Drug activity calls to police have dropped dramatically, from 1,115 in 2005 to 1,038 in 2006 to 515 in 2007, which Kinmon said indicates that drug corners are being cleared.

Drug-sale arrests totaled 80, up 49, while drug possession arrests decreased by 64, to 860. Total drug arrests were 940, compared to 955 in 2006 and 987 in 2005.

Kinmon, 40, officially took over as chief March 9, 2007. He had been acting chief under City Manager Terence Reidy since November 2005.

“I would say the improvements that have been made in public safety in the city are no accident,” Reidy said Wednesday. “There has been absolutely full court press on every single aspect under Mark’s leadership, from the Police Athletic League and gang resistance education in the schools to increases in the street-crime unit.”

Starting late in 2005 and extending into 2007, the city experienced a number of incidents in which young black people killed each other, often related to gang activity.

“The city was hit hard, as across the nation, with the violent crime increase in gang activity where there was easy access for people to get handguns and a willingness of young people to use weapons without fear or consequence,” Kinmon said.

During 2007, however, the intelligence and information the city gained on gang activity “came a long way,” Kinmon said. He said he’s grateful to Monmouth County Prosecutor Luis Valentin for his commitment of resources and long-term investigations in the city.

Lakiesha Johnson, a mother who lives on Springwood Avenue in the heart of some of the shootings in the past few years, said she does not go outside much lately because of a new baby, but said, “It is getting a little better — so far.”

Johnson cautioned that it is too soon to know whether good conditions will prevail.

Summonses issued for parking and moving violations were 10,116, up 522. Kinmon said police are addressing a lot of complaints on Main Street. He said drivers come into town with an attitude of “anything goes on Main Street” here but act differently in another town.

“That’s not acceptable to us,” he said. “We don’t want that reputation.”

After the council meeting Wednesday night, Councilman John Loffredo said: “We’re very happy with the direction the police are going in.

“We know there’s much more that needs to be done, but the statistics show that crime is down in the city of Asbury Park.”

Madison Marquette Announces Big Plans for Asbury Park - Summer ‘08

January 17th, 2008
News

REPRINTED:  COURTESY OF THE ASBURY PARK PRESS, A GANNETT CO. NEWSPAPER

January 15, 2008

Picking up pace on the boardwalk

By NANCY SHIELDS
COASTAL MONMOUTH BUREAU
Madison Marquette, the lead partner redeveloping the city’s boardwalk pavilions and historic buildings, has announced ambitious plans for the summer that include opening several new restaurants — one of them operated by well-known restaurateur Tim McLoone.

“The boardwalk is the heart and soul of Asbury Park,” said Gary Mottola, president of Madison Marquette Investments. “We have plans to completely revitalize the boardwalk by summer.” The David Rockwell Group will be architects for construction projects, he said.

At a news conference in the Paramount Theatre Monday afternoon, Mottola surrounded himself on stage with many of the players he said will transform beachfront properties.

They included Hugh Lamle, president of M.D. Sass Investors Services, which is the lead partner of Asbury Partners and Madison Marquette’s partner in the boardwalk joint retail venture; Debbie DeLisa, whose Wonder Bar on Ocean Avenue will soon reopen; Takahiro Hirai, the popular downtown chef who plans to open an “all American” diner on the boardwalk; and Joseph Cetrulo, managing partner of the Sirena restaurant in Long Branch, who with his brother, Michael, will open a restaurant in the First Avenue Pavilion.

Mottola said his company’s joint venture with Asbury Partners also plans to complete most of the renovations of Convention Hall and Paramount Theatre this year; give police the money they need for surveillance cameras at different points in the city; form an alliance with downtown merchants; and be a source of financial and other support for Asbury Park High School Principal Tyler Blackmore as he creates new learning academies at the high school in the fall.

Mottola also said Asbury Partners has agreed to accelerate such off-boardwalk improvements as paving roads near the waterfront instead of waiting until a condominium project was ready to have residents move in. Asbury Partners also will fix the bulkhead along Wesley Lake and create 500 surface parking spaces near the beach until a parking garage is built.

“Asbury Park is a very important project for our company,” Mottola said. “Even though we have many projects across the country, this is a huge priority.”

Mottola said today’s market requires a large-scale financial commitment, not lesser individual efforts. It is that impact he’s looking for if the pavilions with the lineup of tenants are to be ready by summer.

Eatery and supper club

McLoone will open his fourth restaurant in the Shore area, taking over the Salt Water Beach Cafe in the former Howard Johnson portion of the Fifth Avenue Pavilion and creating a supper club on the second floor. He said the downstairs restaurant will open in a couple of months. The upstairs will take a little longer because an elevator has to be installed.

Mottola also announced that Marilyn Schlossbach, the popular downtown Market In The Middle restaurateur, plans to open a Mexican restaurant and surf shop on the boardwalk. Russell Lewis, an owner with Paul Connolly of Baker Boys Bakery in Ocean Grove, will open a new Baker Boys on the boardwalk as well as a new nightclub there. Both Brielle Cyclery and Kathy Mongiello’s boardwalk panini shop will expand, Mottola said.

“I think everything Madison Marquette has done to date is nothing but a class act,” said Robert Ranuro, who with his brother, Steven, is a major downtown developer. “We look forward to working with Madison Marquette on the downtown, bringing the downtown and beachfront together.”

The news conference came a few weeks after Madison Marquette bought out the interests of Kushner Cos.’ stalled Wesley Lake project that included 91 condominium units, of which 22 have been sold. Madison Marquette also bought two additional city blocks Kushner owned awaiting development on lower Cookman Avenue.

Neither the mayor, City Council members nor City Manager Terence Reidy participated in Mottola’s conference. They declined to say why, except to release a statement emphasizing that Kushner had to fulfill its contractual obligations with, and promises made to, Asbury Park’s citizens.

Mottola needs the council’s approval on most of the boardwalk plans as well as the Kushner buyout.

Mottola said after the news conference that he hoped to give the city this week all of his company’s qualifications to be a subsequent redeveloper on the Kushner site. He also said his joint venture with Asbury Partners needs to negotiate a subsequent redeveloper agreement with the city for the boardwalk plans, and that Madison Marquette has to negotiate an agreement on the Kushner properties.

Mottola said Madison Marquette’s move to acquire Kushner’s land was in part a way to make the Asbury Park project work financially because it involved tremendous expense fixing up Convention Hall and the Casino.

Additionally, he said, Madison Marquette “didn’t want to be in a position of just doing the boardwalk and having no control over the rest of it,” meaning the still-undeveloped portion of Cookman Avenue near the beachfront.

“I wanted to get control of enough of the residential to have an impact,” he said.

Mottola has said in the past his company is bringing $150 million to $200 million to the city.

He said at the press conference that the accelerated effort to do all this by summer will put a strain on both developers and city officials whose approvals will be needed.

“We’re going from one speed to a much, much faster speed,” he said.

Accelerated pace

How Madison Marquette can pull all this off by summer remains to be seen. Dan DiBenedetto, chairman of the city’s Planning Board, sat on the Paramount stage and said afterward he plans to hold as many meetings as possible to have Mottola present the plans for approval.

With 18 participants on the stage, Mottola was asked why there were no African-American businesses or residents participating in a city whose population is predominantly black.

Mottola said his company wants the entire community to thrive as a result of redevelopment.

Jeffrey Fernbach, president of Paramount Homes, which is building the North Beach condominiums just north of the Berkeley Hotel, said 47 closings have taken place and an additional 60 units are under contract.

A third beachfront developer, Metro Homes, closed down its Esperanza condominium building site last month, citing the troubled mortgage industry. Reidy, the city manager, said he met last week with Metro Homes President Dean Geibel, who told the city he’s still trying to find a way to get the building financed, very probably by downsizing what was to be an expensive building.

Lamle, of Asbury Partners, said his company was “very interested in helping him (Geibel) restart the building — he got caught in this national financing debacle.”

“In the real world, a businessman says, “Things happen; it’s unfortunate; now what’s the best way to go forward?’ ” Lamle said.


Developer Brings Excitement + Commitment to Asbury Park

January 5th, 2008
News

 REPRINTED:  COURTESY OF THE ASBURY PARK PRESS, A GANNETT CO. NEWSPAPER


January 5, 2008

Developer digs deep for Asbury Park

Madison Marquette buys beachfront condos

By NANCY SHIELDS
COASTAL MONMOUTH BUREAU

With its apparent deep pockets and willingness to spend money, national retail developer Madison Marquette became the city’s waterfront hero last year for the company’s improvements to Paramount Theatre and Convention Hall, the boardwalk pavilions and the Ocean Avenue landscape.

Now, Gary Mottola, Madison Marquette’s president of investments, says his company reached a deal Dec. 31 to buy out Kushner Cos.’ unsold Wesley Grove condominium units and two other Kushner beachfront blocks awaiting development.

The acquisition, which must be approved by the city, had been expected in recent weeks. Mottola said that finalizing the agreement with Kushner New Year’s Eve was, “to some extent, tax driven” for Kushner.

Kushner’s Westminster Communities halted work on its Wesley Lake project last year after the parent company decided to pull out of several projects in New Jersey.

“We think we can accelerate the whole process there,” Mottola said. “Since Kushner Cos. did a business strategy of exiting New Jersey, they didn’t have the same level of excitement about Asbury Park as we have and which we can bring to this project.”

“We’re going to completely finish all the units, improve the overall look,” Mottola said. “The whole area will be cleaned up and beautified.”

Madison Marquette will take over the block of 91 units, of which 22 have been sold, Mottola said. The company plans to complete and sell out the remaining units and then develop residences and retail on an adjacent lakeside block and the triangle block across the street at Cookman and Asbury avenues.

The city was informed of the end-of-the year negotiations between Madison Marquette and Kushner but has not yet given the approval required whenever a new developer comes in or takes over an existing development site.

The city lost significant promised tax revenues when Westminster Communities halted work on the project last year. Mottola said his company’s concern is not to make up that loss in the deal with Kushner but to push forward to finish the units to move forward on the waterfront.

Sam Gershwin, president of Westminster Communities, could not be reached Friday.

News of the Kushner deal came a few weeks after Hoboken developer Metro Homes shut down its oceanfront Esperanza condominium site, citing a “national mortgage crisis” that had caused a setback for the company.

Mottola said Friday that his company is not looking at the Metro Homes site at this point, and that he believed Metro Homes is working to find a solution. Mottola said he plans to hold a press conference within 10 days to discuss his company’s overall plans.

Madison Marquette is in a joint venture with the city’s master developer, Asbury Partners, to develop all of the retail and entertainment space along Ocean Avenue.

Madison Marquette is on its own buying out Kushner. In the past, Mottola has said the company planned to spend $150 million to $200 million in the city. On Friday, he said the money for the Asbury Park project comes from a $500 million private equity fund and the company’s internal equity funds.


Asbury Park: New Community Bank Opening

December 14th, 2007
News

Bob Davis Looks Forward to Opening New Bank in City

By ED SALVAS, 12/14/07

REPRINTED BY PERMISSION OF THE COASTER, Monmouth County’s Community Newspaper

Community Bank of Asbury ParkCoaster Photo: The Community Bank of Asbury Park plans to open in The Griffin building in the spring at the corner of Cookman and Grand Avenues.


Ask anyone in Asbury Park, including longtime city residents, when the last new bank opened in the city and no one can say for sure.

That’s all the more reason the soon to open Community Bank of Asbury Park is significant, say city officials.

The new bank will be the fourth branch of the seven year old Rumson-Fair Haven Bank and Trust Company and will occupy space on the ground floor of The Griffin, the four-story retail and condominium building under construction at Cookman and Grand Avenues.

“In my estimation, it’s the first new bank in Asbury Park in 40 years,” said Tom Gilmour, Asbury Park’s director of commerce, adding “It’s a great economic indicator for the city of Asbury Park.”

Bob Davis, president of the Rumson-Fair Haven Bank, is no stranger to the area or to the banking business. A 25-year veteran, he joined the Rumson-Fair Haven Bank in 2003 as the bank was transitioning from being a private bank catering to high net worth clients to a full service community bank. Realizing the original concept wasn’t working, Davis set out to change the business model and grow the bank to compete with the banking goliaths that resulted when regional and national chains gobbled up smaller local banks. He says opening a branch in Asbury Park is something he’s wanted to do for some time.

“We watched Long Branch, and we were keeping an eye on Asbury Park,” Davis said, “and we liked what we saw.”

He cites the growing business and retail community in Asbury Park and the number of condos that are being built in the redevelopment area.

“Millions of dollars have been spent” in Asbury Park he said, “and we’re starting to see results. Asbury is going to work.” He credits city officials for helping speed the approval process for the new bank, especially Gilmour and City Manager Terry Reidy. The bank has already done business in the city, most recently signing on to finance the new Asbury Park Design Center being developed by Robert Legere and Steve Troy.

The design center will be located between the Griffin and the Robert Legere Home Furnishings store on Cookman Avenue.

The Rumson-Fair Haven Bank provided the original financing for Robert Legere Home when the store opened in a desolate downtown Asbury Park. Davis says Legere and Troy “really took a chance” in opening their store at that time. But Davis is also aware that Asbury Park is an urban center with the same problems that any urban center faces. On the positive side, he cites strong growth in home ownership in the city and he has praise for the new Asbury Park High School Principal, Tyler Blackmore, and his efforts to turn around the troubled high school.

The new bank will be known as the Community Bank of Asbury Park according to Davis who anticipates opening around April 1, 2008 in 2,700 square feet on the ground floor of the Griffin.

The bank will have “an easy to get to urban design,” and will target the business community. Bank officials have already arranged with the Federal Small Business Administration to operate an “SBA Express” loan application service to make loans to local businesses for up to $350,000. Davis also plans to draw on local business people to help attract clients through a six-member “Business Development Council.” He’s also tapped a local business, Knockout Graphics, to handle the bank’s marketing.

Davis says part of the bank’s growth strategy is to use the name of the individual community for all future branches, and they plan to have six offices by 2010. He says the bank currently has about $135 million in deposits toward a goal of $250 million. He says a bank branch needs between $15 and $20 million to be profitable.

For Davis, who grew up in Ocean Grove, the new Asbury Park bank marks his return to business in the Asbury Park area where he owned Bob Davis’ Restaurant in Loch Arbour for several years in the 1980’s.

After graduating from Neptune High School in 1963, Davis went on to the University of Virginia to earn a degree in Economics. He was the second round draft pick of the Houston Oilers in ‘67 and spent three years as quarterback of the team, moving to the New York Jets and then the New Orleans Saints in ‘73 and eventually to the World Football League.

His 25 year banking career began at the former Ocean County National Bank in the early 1980’s and included stints at Summit Bank and United Jersey Bank.

Festive Shopping in Asbury Park: Holiday Bazaar in the Paramount

November 30th, 2007
News

November 30, 2007
REPRINTED COURTESY OF THE ASBURY PARK PRESS, A GANNETT CO. NEWSPAPER

Asbury Park’s holiday bazaar

Unconventional shopping at Convention Hall

By NANCY SHIELDS
COASTAL MONMOUTH BUREAU

Shopkeepers and restaurateurs opened up Thursday afternoon in the historic Convention Hall-Paramount Theatre boardwalk arcade, which this year has been transformed into a holiday bazaar. Sixteen businesses — some from the city boardwalk’s summer days, and others from Cookman Avenue and Ocean Grove — are set up in the old-fashioned, wood and glass concession shops that have been closed for years, and in many cases decades.

At the center of the arcade is a 30-foot holiday tree, trimmed in red ribbons, with dozens of smaller trees and large wreaths decorating the 1929-era hall. The lighting of the tree will take place tonight at 7, and will be followed by a fireworks display on the boardwalk.

Madison Marquette, the national retail and entertainment developer, is restoring boardwalk icons and rebuilding the pavilions.

Many of the businesses inside are part of the mix planned for next summer, when the company hopes to open all of the boardwalk pavilions. The excitement at the arcade Thursday reflected that Madison Marquette has brought money to town for retail and for entertainment.

“That’s what we needed, some serious interest, some serious money,” said Kathy Ragackas, owner with her partner Donna Harrison of Wish You Were Here on Cookman, who has opened Wish You Were Here Too in the arcade. The shop has baked goods, specialty candies, music boxes, tin signs, jewelry and postcards.

Ali Locke and Brianne Jones, who were making hot-pressed sandwiches at Casa DiFormaggio, said having the Premiere Theatre Company’s “Scrooge” being performed this weekend at the Paramount was a draw to participate in the arcade adventure.

Rachel Littman, owner with Julia Murphy of the Motif gift store that focuses on contemporary designs on Cookman Avenue, agreed.

“We heard they were doing a holiday bazaar and that there would be a lot of wonderful performances at the Paramount and thought this would be fun,” Littman said.

Kay Harris, owner of Asbury Galleria, displayed her popular photographs and Sandra Sutherland’s holiday ornaments, at a kiosk near the holiday tree. Harris said she will be with Madison Marquette on the boardwalk again next summer.

Nearby, Debbie DeLisa readied her own kiosk selling Wonder Bar merchandise and ornaments. The popular bar and music hangout she and singer Lance Larson operated on Ocean Avenue has closed — at least for the time being.

The stores and restaurants will be open Thursdays through Sundays until New Year’s Eve. Some may stay open on through the winter, said Michael Walker, Madison Marquette’s creative director on the Asbury Park boardwalk.

Other shops and restaurants in the arcade include Brielle Cyclery, Trillium Antiques & Art, Greg LaPlaca Pottery, the Man Store, the Experience Asbury Shop, Market in the Middle’s Arcade Soup Kitchen, A Different Twist, the Baker Boys and the new winter beach bar Shiver.

Arcade shopping hours are from 2 to 9 p.m. Thursdays and Fridays, and noon to 9 p.m. Saturdays and Sundays. Live entertainment is scheduled each day at 3 and 6 p.m.

On Saturday, a trolley will run from the arcade to the downtown business district’s First Saturday event, this month called the “Festival of Lights,” when stores and restaurants will stay open late. The event is sponsored by Jersey Central Power & Light Co. and organized by the Asbury Park Chamber of Commerce.

Unwrapped toys and gifts for children ages 1 to 12 can be dropped off at The Shoppes at the Arcade through Dec. 17 as part of a toy drive with Interfaith Neighbors, the Westside Community Center and The Center in Asbury Park.


Asbury Park World AIDs Day Candlelight Vigil

November 30th, 2007
News

November 30, 2007
REPRINTED COURTESY OF THE ASBURY PARK PRESS, A GANNETT CO. NEWSPAPER
Asbury candlelight vigil to mark World AIDS Day

By NANCY SHIELDS
COASTAL MONMOUTH BUREAU

The city will observe its 16th annual World AIDS Day with a candlelight vigil and interfaith service Saturday night.

The vigil begins at 6:30 p.m. at The Center, 806 Third Ave. Participants will walk to Trinity Episcopal Church, 503 Asbury Ave., where an interfaith service will start about 7:40 p.m.

Following the service, participants are invited to walk to the Mattison Park restaurant downtown on Mattison Avenue at Bond Street, where a reception with coffee and refreshments will be held, said Aaron Coleman, one of the vigil organizers who works as an event coordinator for Mattison Park.

The sponsors of the vigil include The Center, which provides housing and supportive services for people affected by HIV disease, Checkmate Inc., Trinity Church, and Visiting Nurse Association of Central New Jersey.

Mattison Park also is participating this year, and Madison Marquette, the beachfront developer, is providing a shuttle service Saturday night for people needing a ride back from the downtown to their cars at the church or at The Center, Coleman said.

Asbury Park Sales Are Up!

November 5th, 2007
News

Where Sales Are Buoyant By ANTOINETTE MARTIN Published: November 4, 2007

Things are always sweeter at the shore — even in real estate, as indicated by fresh data on the market in Asbury Park and several beach towns in New Jersey.http://www.nytimes.com/2007/11/04/realestate/04njzo.html?ex=1351742400&en=5f9280e9780aa3b6&ei=5124&partner=permalink&exprod=permalink

 

Warning: Invalid argument supplied for foreach() in /home/conover/public_html/includes/bottom.html on line 15
200 Main Street · Asbury Park, NJ 07712 · 732.897.9200
201 Main Street · Allenhurst, NJ 07711 · 732.531.2500
© Copyright 2005-2008 John C. Conover Agency. All rights reserved.
Site Map | Privacy | Legal
Web design & development by Xonatek.