Real-estate investment company iStar will transform a 1.25-mile stretch of Asbury Park waterfront with residential, hotel and infrastructure projects.
The redevelopment involves Anda Andrei, former director of design at the Ian Schrager Company, who is the creative lead for the entire redevelopment project; and David Bowd, creator of the SALT hotels brand and a former executive at Andre Balazs Properties, who is managing, programming and overseeing the development of an iStar-backed hotel currently under construction.
Other partners include architects Gary Handel (The Dream, Four Seasons Miami); Paul Taylor (Ace, Nomad); and Chad Oppenheim (Ten Museum Park Miami); landscape designer Madison Cox (Majorelle Gardens in Marrakech, Spring Garden at the French National Museum at the Château de Blérancourt); and landscape architectural firm Melillo + Bauer Associates.
For the redevelopment, iStar is also partnering with Asbury Park businesses, cultural institutions, entrepreneurs, artists and community groups.
In total, iStar's project will add more than 2,100 homes and 300 hotel rooms to the town.
The 20 individual iStar-financed projects in Asbury Park will include The Asbury, a 110-key hotel designed by Stonehill & Taylor Architects, and inspired by Asbury Park itself. The hotel is set to open early summer 2016 in a former Salvation Army building after adaptive-reuse work.
Monroe, a 34-unit condominium designed by Miami architect Chad Oppenheim, will open in summer 2016.
Asbury Lanes, the music and bowling venue, will be refurbished.
Meanwhile, 1101 Ocean, a mixed-use hotel/condominium/retail project designed by New York's Handel Architects, will be completed in a project that was abandoned by two previous developers.
iStar also already added beach-themed landscaping throughout the community, and with Asbury Park, relocated overhead electrical utility lines underground, installed new storm-sewer systems, and restored historic streets, lighting, curbs and sidewalks. iStar similarly added new parking for the waterfront and its attractions.