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ASBURY PARK, NJ-This troubled city’s long-awaited redevelopment has taken another step forward with the approval, by the city council acting as the redevelopment agency, of the overall concept of a 153-unit multifamily community proposed by the Florham Park, NJ-based Kushner Cos. The next step in the process is to bring the proposal before the planning board, a move that’s expected to happen soon, according to observers.

The community, which will combine 50 townhouses and 103 condo “flats” in two, four-story buildings, is part of a larger redevelopment project being directed by Asbury Partners, a Lakewood, NJ-based group (see earlier stories). The Kushner project, which is expected to be under construction early next year, will quickly be followed by a 340-unit residential community nearby, this one to be developed by the Jackson, NJ-based Paramount Homes.

As master developer for the larger redevelopment project in this oceanfront city, Asbury Partners is responsible for hiring the developers for the various components. Also included in the project are retail and entertainment components, including the renovation and redevelopment of several landmark buildings on the city’s boardwalk. Work has already begun on refurbishing several boardwalk pavilions.

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