$1.35 Million to Save Asbury Park’s North End Beach

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Asbury Park’s North End Beach

The Garden State Preservation Trust recommended $1.1 million dollars be awarded to Asbury Park in order to buy the Bradley Cove development rights back from iStar Financial. This award in addition to the $250,000 pledged as a match by the Monmouth County Freeholder means Asbury Park will have up to $1.35 million dollars to offer iStar.

“This is a important victory for the movement to save Asbury Park’s north end beach,” said Councilman Woerner. “It affirms what we have known all along — that this is a very special location on the Jersey Shore and must be preserved,” he said. “We will have $1.35 million to provide iStar with fair market compensation as they have always requested.”

“It’s been a long battle,” Deputy Mayor Amy Quinn said. “This is a win for the thousands of people who have been protesting the building of Bradley Cove.”

Although this is a major victory in our struggle to save Asbury Park’s north end beach, there is still a long road ahead.  The next step is the appraisal process. Once that is completed an official offer will be made to iStar, the Asbury Park Waterfront Master Redeveloper.  At that point it is hoped that iStar will keep to their pledge to sell the development rights at fair market value. Then the victory party ….

Until then, enjoy this victory, but stay tuned as their will be more work to be done.  We need to keep the politicians and developers on the right path.

Read more about the Green Acres award:

NJDEP Press Release

Asbury Park Sun Article

 

Comments

  1. Al Colabelli says:

    awesome

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