BY CHRISTINE VARNO
Staff Writer
FARRAH MAFFAI staff Construction continues on the Pier Village on Ocean Avenue in Long Branch. LONG BRANCH — The developers of the $100 million Pier Village project drew from a waiting list of over 1,000 people when they began leasing the luxury apartments last weekend.
Applied Development Co., Hoboken, has constructed a total of 320 rental units and 100,000 square feet of retail space on a 10-acre piece of property from Laird Street to Melrose Terrace, on the waterfront in one of the city’s redevelopment zones.
“Next year at this time all the residential units will be leased out,” Greg Russo, vice-president of Applied, predicted. “By the end of the summer, 100 percent of the retail [units] will be leased.”
The residential units include studio apartments starting at $1,150 that will range in size from 600 to 700 square feet; one-bedroom units that start at $1,300 and range from 700 to 900 square feet; two-bedroom apartments that start at $1,700 and range from 1,000 to 1,500 square feet; and three-bedroom apartments that start at $3,600 and range from 1,700 to 1,950 square feet.
“It appears that there is a tremendous amount of interest in the residential units,” Mayor Adam Schneider said. “We have managed to turn a once horrible area into one of the most attractive places [on the Jersey shore].
“We are very proud of that.”
The project broke ground Nov. 2003 and residents are scheduled to start moving into the units in February, according to Russo.
“This [project] has been phenomenal,” he said. “It was done quickly and the quality is incredible.”
The project will consist of four buildings, two of which will be constructed in the sand on the beach.
Another two buildings, one of them U-shaped, will be built behind the beach building to the west of the ocean, according to Russo.
A 170-space parking lot will be located inside the U-shaped building and a parking deck will provide 607 spaces.
When construction is complete, there will be 25 to 30 retail units, 15 of which have already been leased by tenants, according to Russo.
The businesses which have already signed leases include: McCloone’s of Sea Bright; The Island Trading Co.; It’s
Greek to Me of Holmdel; The Turning Point of Holmdel; Ladies Workout Express; Kidegories of Shrewsbury; Rocky Mountain candy store; casual dining franchise Stewarts; and a yet to be named cafe.
The two most recent retailers to sign leases are Epitome of Bernardsville, a boutique that sells women’s designer clothing along with shoes and accessories; and Jonte Jewelers, which sells crystal, china and other gifts in addition to jewelry.
“We expect to sign a lease with a day spa any day now,” Russo said.
Only 30,000 square feet remain to be leased and the leases are already out for signatures, he said.
Russo anticipates the project will draw patrons from a 60- to 90-mile area once Pier Village is complete and retailers are open.
“I expect an incredibly active, booming mixed-use community,” he said.

