Jones Lang LaSalle
Redevelopment Plan Draws Four Proposals
By Eric Peterson
KEANSBURG, NJ-An effort to get the beachfront redeveloped in this city’s Point Comfort section has drawn four substantial proposals, which have been unveiled by the planner hired by the community to oversee the process. The proposals were unveiled without comment by local officials and residents pending a formal public hearing. According to David Roberts of the planning firm of Schoor DePalma, that hearing could take place within the next month and officials hope to decide on one of the proposals by the end of summer.
"I think the community has four very good proposals," Robert says. "I think that’s a sign that developers are taking this community seriously." Keansburg, in Monmouth County, has struggled to remake itself for a number of years.
One of the proposals was produced by the Red Bank, NJ-based Kalian Cos., which already has development interests in the community. As reported by GlobeSt.com earlier this month, the company has started site work for Harbor Lights, a 48-unit condo community on the Raritan Bay waterfront. For the redevelopment site, which lies adjacent to Harbor Lights, Kalian proposes to build a combination of 126 residential units, 24,250 sf of commercial space and 750 parking spaces, both on-street and in two multi-level structures.
The developer offering the second of the four proposals also has a connection to Kalian’s Harbor Lights project. Leonard Rubinstein, who heads the Middletown, NJ-based Bellaire At Keansburg LLC, was Harbor Lights’ initial developer before handing it off to Kalian. Bellaire’s proposal calls for 119 residential units, 7,800 sf of commercial space, 5,400 sf of restaurants and more than 300 parking spaces.
The third proposal is from Windward Cove LLC, a partnership of Sterling Properties and Millennium Homes, both of Livingston, NJ. The Windward offering is heavier on the residential, 170 units, and lighter on the commercial, just 3,500 sf of retail. It also calls for a 5,000-sf health club and a 456-car, four-story parking deck.
The final proposal unveiled by Schoor DePalma’s Roberts is the largest, and is part of a larger plan dubbed the Downtown Keansburg Waterfront Vision Plan. Offered up by Newwork Real Estate of Newark, NJ, it calls for the Point Comfort site, currently used as a surface parking lot for the adjacent Keansburg Amusement Park, to be redeveloped with 117 residential units, 45,000 sf of commercial space and 350 parking spaces. It would serve as phase one of the larger "vision plan," which Newwork Real Estate proposes to ultimately build out to a total of 1,000 residential units and 250,000 sf of commercial space.
Copyright © 2006 ALM Properties, Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited.
Redevelopment Plan Draws Four Proposals
By Eric Peterson
KEANSBURG, NJ-An effort to get the beachfront redeveloped in this city’s Point Comfort section has drawn four substantial proposals, which have been unveiled by the planner hired by the community to oversee the process. The proposals were unveiled without comment by local officials and residents pending a formal public hearing. According to David Roberts of the planning firm of Schoor DePalma, that hearing could take place within the next month and officials hope to decide on one of the proposals by the end of summer.
"I think the community has four very good proposals," Robert says. "I think that’s a sign that developers are taking this community seriously." Keansburg, in Monmouth County, has struggled to remake itself for a number of years.
One of the proposals was produced by the Red Bank, NJ-based Kalian Cos., which already has development interests in the community. As reported by GlobeSt.com earlier this month, the company has started site work for Harbor Lights, a 48-unit condo community on the Raritan Bay waterfront. For the redevelopment site, which lies adjacent to Harbor Lights, Kalian proposes to build a combination of 126 residential units, 24,250 sf of commercial space and 750 parking spaces, both on-street and in two multi-level structures.
The developer offering the second of the four proposals also has a connection to Kalian’s Harbor Lights project. Leonard Rubinstein, who heads the Middletown, NJ-based Bellaire At Keansburg LLC, was Harbor Lights’ initial developer before handing it off to Kalian. Bellaire’s proposal calls for 119 residential units, 7,800 sf of commercial space, 5,400 sf of restaurants and more than 300 parking spaces.
The third proposal is from Windward Cove LLC, a partnership of Sterling Properties and Millennium Homes, both of Livingston, NJ. The Windward offering is heavier on the residential, 170 units, and lighter on the commercial, just 3,500 sf of retail. It also calls for a 5,000-sf health club and a 456-car, four-story parking deck.
The final proposal unveiled by Schoor DePalma’s Roberts is the largest, and is part of a larger plan dubbed the Downtown Keansburg Waterfront Vision Plan. Offered up by Newwork Real Estate of Newark, NJ, it calls for the Point Comfort site, currently used as a surface parking lot for the adjacent Keansburg Amusement Park, to be redeveloped with 117 residential units, 45,000 sf of commercial space and 350 parking spaces. It would serve as phase one of the larger "vision plan," which Newwork Real Estate proposes to ultimately build out to a total of 1,000 residential units and 250,000 sf of commercial space.
Copyright © 2006 ALM Properties, Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited.
posted by Jones Lang LaSalle NJ News Blog at 12:25 PM
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