iStar to give direct assistance to Asbury small business
Developer will distribute $75,000 this week to 20 businesses and non-profits
In an effort to mitigate the economic impact on small businesses in Asbury Park due to the Covid-19 pandemic, waterfront redeveloper iStar is implementing a “small business support initiative.”
Under the initiative, IStar this week will distribute $75,000 to 20 small businesses and non-profit organizations in the form of grants or advance payment for future services provided by local vendors.
“Asbury Park is a remarkably resilient and generous community that we are proud to call our home,” said Brian Cheripka, iStar Senior Vice President for Land and Development. “We are honored to be a part of such a special community and want to do our part to support our neighbors.”
“Small businesses and non-profits are essential to the economic stability of this City, and they need our support,” he said. “We hope that by offering a helping hand, this City that we all care so deeply about emerges stronger than ever.”
Businesses and organizations that were chosen are unique and eclectic as Asbury Park itself, and help form the fabric of this City, said Cheripka.
“iStar is proud to support non-profit entities, such as the Boys and Girls Club of Monmouth County, as well as local businesses such as Juice Basin, Kur Studios and Confections of a Rock$tar,” he said.
Most of the businesses are vendors for iStar properties, or were selected based on discussions with the Chamber of Commerce and local municipal officials.
“Just like Asbury Park, these organizations have a sense of community and routinely pay-it-forward,” said Cheripka.
As part of this new $75,000 initiative, iStar will contibute an additional $4,000 to Asbury Park Dinner Table to establish a food distribution point specifically aimed at serving seniors in the community.
In addition to this most recent contribution, iStar was a founding sponsor of Asbury Park Dinner Table, donating $12,000 to the organization to help feed families in need. Click here for more information about Asbury Park Dinner Table.
IStar owns The Asbury hotel and the adjacent Asbury Lanes. It’s also the developer of the Asbury Ocean Club high rise, and the owner of the hotel in that property. Other iStar projects include the Vive and the Monroe condominiums.
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