By Kenny Walter
Staff Writer
LONG BRANCH-After four years of delays that included a debilitating hurricane and the eventual sale, the third phase of Pier Village may finally be moving forward.
Representatives of developer Kushner Companies presented amended plans for the third phase during the Feb. 9 city Workshop meeting.
Architect Tom Bowers said part of the project includes a rebuilt boardwalk in conjunction with the city’s rebuild of the entire boardwalk after superstorm Sandy.
“Since we have received that approval back in 2012, there have been a number of improvements made both onsite and offsite,” Bowers said. “The most impressive and most important feature is the newly improved boardwalk.
“With this project, we will connect the new boardwalk to the old. It’s that stretch of about 550 linear feet of boardwalk that will be a part of the master plan we proposing tonight.”
Manhattan-based developers Kushner Companies and Extell Development Co. purchased the two completed phases and the unbuilt third phase in 2014 from Applied Development Co.
The Applied Development initially received approved for the third phase in 2010 and the city amended the plan again in 2012 for 61,000 square feet of commercial space, 300 residential units and a 68-room hotel.
The new developer is now seeking approval for 57,000 square feet of commercial space, 269 residential units, a 79-room hotel and parking and public improvements to the area.
Originally the residential units were expected to be for rent, but Bowers said the units are now going to be sold.
“There are differences in the plan but the site plan is essentially the same,” Bowers said.
The project includes several public amenities including a 42-foot, ocean themed carousel, an outdoor stage, a mysting area, two concession stands and an area for beach badge sales.
“We are really developing this area where the pedestrian is really the owner and the vehicle is the guest,” Bowers said. “It is really a European scenario we worked out and I think it is a feature that we are very happy with.”
Bowers said while the overall construction of the project has not started, there were some improvements made to the area over the last four years.
“Following that approval some of the infrastructure was constructed, utility work was done, some of the roadwork was done,” he said.
The developers are expected to go before the Long Branch Planning Board in the spring. If approved, construction is expected to be done in two phases.
One of the variables concerning phase three is a city-authorized $25 million redevelopment area bond (RAB) and a subsequent 30-year tax exemption and payment-in-lieu-of-taxes plan for the developer.
Pier Village currently consists of 492 rental units with more than 90,000 square feet of retail centered on Festival Plaza, where community events such as outdoor fairs and concerts are held.
Kushner Companies is a diversified, privately held real estate organization whose holdings include the Monmouth Mall. New York-based Extell Development Co. is a developer of commercial, residential, retail and mixed-use properties.