X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ASBURY PARK, NJ-The New Jersey State Planning Commission has conferred “urban center” status on this oceanfront city, a move that’s expected to enhance its ongoing redevelopment efforts. The city is also the first in the Garden State to be granted such status since new state planning guidelines were adopted last year aimed at fostering regional planning.

“Asbury Park showed real commitment to applying smart growth principles in its plans, and we appreciate the work they did to achieve plan endorsement,” Acting Gov. Richard Codey says in a statement. In formally announcing the designation, state Department of Community Affairs commissioner Susan Bass Levin termed the city’s effort “a winning strategy.”

Specifically, the designation brings with it entitlement to more state financial grants. Other benefits include a speeded-up permitting process for redevelopment projects, as well as more technical assistance.

The centerpiece of this city’s larger redevelopment effort is Oceanfront Asbury, a 56-acre site that’s being made over with a variety of uses, focusing on retail and residential. Locally based Asbury Partners, headed by Larry Fishman, is the designated master redeveloper, and his group has brought in some of the state’s top development companies to carry out the project’s various components.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.