Asbury Park Battles to Stay Affordable During Resurgence

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asbury park boardwalk
Asbury Park boardwalk.

The comeback of Asbury Park, both in profile and housing prices, has led developers back to the once-downtrodden seaside city. But fears about overbuilding and displacement have sparked a conversation that residents and officials hope will better keep the adopted home of Bruce Springsteen inclusive as the city’s fortunes rise.

One of the more recent controversies to erupt in Asbury Park involves a developer that has built quite a bit over the last decade. Manhattan-based iStar was looking to build 16 townhouses at what is dubbed the Bradley Cove site near the city’s northern border at Deal Lake. However, city officials would like to preserve the property as open space and have expressed their desire to purchase the land from the company.


The townhouses would be allowed under local zoning on the half-acre property. iStar issued a statement on March 1 saying that they “had always been open to selling the Bradley Cove development site to the City for fair market value.” Reappraisals are now being sought to determine the land’s value, which iStar said was “a good first step to ensuring we receive appropriate compensation for our development rights.”

iStar has been one of the biggest developers in Asbury Park and will soon launch their Asbury Ocean Club Hotel, a 54-room boutique hotel housed across the fourth floor from their forthcoming Asbury Ocean Club luxury residences slated to arrive this summer. The company’s other projects include The Asbury, which transformed the long-stagnant Salvation Army building on Fifth Avenue into a boutique hotel, the Monroe condominiums, and the relaunch of Asbury Lanes, a bowling alley turned music venue.


Asbury Ocean Club Asbury Park Hero Dusk
Asbury Ocean Club, Asbury Park. Rendering courtesy iStar.

All of those projects fall within the city’s Waterfront Redevelopment Plan, which was created in 2002 and hasn’t been amended since December 2005. It encompasses a large area spanning 230 acres from the Atlantic Ocean west until Grand Avenue and from the city’s northern border to Wesley Lake.

Asbury Park Redevelopment Plan
Asbury Park Waterfront Redevelopment Area. Plan via the City of Asbury Park.

While the plan has undoubtedly sparked a resurgence in development, it does not impose any affordable housing requirements on new projects in the area. That should come as little surprise to land use junkies, as redevelopment plans that don’t contain an affordable housing component are extremely common in other cities around the Garden State (we’re looking at you, Jersey City!).

While Asbury Park has constructed some dedicated affordable housing of their own, a group called the Asbury Park Affordable Housing Coalition (APAHC) is looking to make changes to the redevelopment plan that create additional units. “We believe that affordable housing on the waterfront is very important,” APAHC said in a statement to Jersey Digs. “The waterfront area is where more than 50 percent of the City’s new development will be created.”

The Coalition has put forth a proposed ordinance that would require all new buildings with over 10 residences, including ones that fall within the redevelopment plan, to designate at least 20 percent of the units as affordable housing. City officials have thus far been responsive, forming a subcommittee that is working to introduce a new affordable housing ordinance.

While changes to affordable housing requirements in Asbury Park have yet to be made, it looks like more inclusionary zoning could be coming to the city sometime this year.

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15 COMMENTS

  1. Pretty soon A.P. will price itself out of the reach for ordinary people to go to the beach. Parking costs are high in the lot 20 to 25$ for the day. Food at the restaurants are N.Y. prices . How many locals can afford the overpricing of Asbury? Watch- greed will be the downfall of Asbury and then it will be back to being a ghost town!

    • Plenty of street parking, thousands of spaces, from FREE to $1-$2 an hour. No need to use $20-$25 private lots 25 feet from beach.

  2. This report is factually incorrect and as such displays a “wreckless disregard for the truth.” For one, Asbury Park does not border the Borough of Deal. It is bordered on the north by Deal Lake and the Village of Loch Arbor.
    Further, developers have not as you say, returned. The master developer, Asbury Partners, which you fail to identify, has been here since 2002. I could go on. But it is suffice to say that the affordable housing needs of Asbury Park are very real and real people are suffering to remain here. They are deserving of well researched professional coverage.
    This report misleads more than it informs. You, sir, perform a disservice.

    • iStar, who are mentioned extensively in the article, have been the parent company of Asbury Partners LLC for almost a decade. The company took over the properties and development rights after the initial Asbury Partners venture defaulted on several loans back in 2009.

    • Have you seen the BRAND NEW, MODERN, really nice affordable housing that opened May 1, 2019 in the “SouthWest Quadrant” (formerly The Hood)? Sorry but your comment is not up to date on affordable housing in AP.

  3. The whole city of Asbury Park was at one point affordable housing and the same people complaining about the lack of money and jobs in the city 10 years ago are now complaining that there’s to much money. The ocean front generates most of the tax revenue for the city and If you want to live there, stop whining, work harder, and earn it.

  4. Asbury doesn’t feel the same as it did even 5 years ago. generic, rich white yuppies taking it over. bland. over priced. it’s sad.

  5. Rick Stone you are false the beach front does not pay most of the taxes in the city it pays almost nothing most have tax abatements and house that where in the tax roles are parking lot do some research and fact check me don’t takeme word for it

    • Generally inaccurate. My (ok, luxury) condo bldg of 90-units has MAYBE FIVE units owned by “New Yorkers”. All other 85 units owned by good old NJ folks, w/ 1-2 Pennsylvania residents. Speak FACT, please.

    • Have you seen the BRAND NEW, MODERN, really nice affordable housing that opened May 1, 2019 in the “SouthWest Quadrant” (formerly The Hood)? Sorry but your comment is not up to date on affordable housing in AP.

    • Oh geez. More FALSE INFO & inaccurate stuff. Sorry, ALL east-side, new condos PAY 100% it’s share City & County taxes. The “abatements” don’t mean NO TAXES; it means a % off for certain number of years, with no taxes diverted to AP’s school system which gets 75-80% of budget from State. BYE FELICIA, have good day but PLEASE SPEAK TRUTH.

  6. Oh geez. More FALSE INFO & inaccurate stuff. Sorry, ALL east-side, new condos PAY 100% it’s share City & County taxes. The “abatements” don’t mean NO TAXES; it means a % off for certain number of years, with no taxes diverted to AP’s school system which gets 75-80% of budget from State. BYE FELICIA, have good day but PLEASE SPEAK TRUTH.

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