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Construction at the Vive townhome site may recommence soon, as the city and waterfront redeveloper iStar Financial are close to finalizing an infrastructure agreement for the city’s entire waterfront area.

The Vive project is linked to waterfront infrastructure because in arbitration between the city and iStar, it was decided that for iStar to retain its waterfront redevelopment rights, they had to fund waterfront infrastructure, city manager Terence Reidy said.

The city and iStar have been working for “quite a while” to come up with an agreement that would enable iStar to fund infrastructure in the waterfront redevelopment zone, Reidy said.

Reidy expects the proposed agreement will be put before the city’s governing body at the Dec. 19 council meeting. If approved, this will enable the construction at Vive and waterfront development in general to move forward, he said.

“It’s been a real collaborative process moving forward to figure this out,” Reidy said. “We’re on the same page and the time has been spent in figuring out how to make an agreement like this work.”

The Vive complex, located at the corner of Asbury Avenue and Kingsley Street, will include 28 two-or-three-bedroom units. Most will have three floors, with an option for a fourth floor to function as either a rooftop terrace or a bedroom. Square footage will range from 1700 to 2200 square feet. Each unit will have a two-car garage.

Thirteen of Vive’s planned units have been sold while 15 remain, according to iStar Financial’s vice president of land, Brian Cheripka. Sales began in June and preliminary site preparation began in July, but vertical preparation cannot commence until the infrastructure plan is approved.

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