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The Asbury Park City Council approval of lot by lot development in the waterfront redevelopment region is the first amendment to its agreement with master waterfront redeveloper iStar in 16 years, city officials announced via a written news statement Monday.

The amendment also creates new procedures for property owners to pay their share of the special assessment, previously funded solely by iStar. The special assessment is used to cover infrastructure improvements, such as sewer, sidewalk and road improvements, as well as the maintenance of green spaces, city officials said. Property owners who own less than four units do not have to contribute to the special assessment.

“This change has been a long time coming,” Mayor John Moor said in a written statement, “It’s an important piece in the revitalization of the waterfront and affects about 35 properties. We are excited that these small parcel owners will finally have the opportunity to develop and redevelop their properties and help hasten the pace of development along the waterfront.”

Since 2003, development had to be done by an entire tax block [city block] at a time. The amendment now allows for single parcel development for property owners with lots measuring 15,000 square feet. Moor had made a plea to reduce the lots to 12,500 square feet.

“I agreed with some of the smaller developers,” he said in January when the change was first introduced. “This was an issue brought to us by the local redevelopers and I looked at it. By doing my own research, I found seven properties that could begin the development process if we reduced the square footage.”

Known as the prime renewal area and loosely defined as the 100 and 200 blocks between Asbury Avenue and Deal Lake Drive, the lot by lot allowance now opens development for independent property owners like Trip Brooks, John McGillion and Pat Fasano.

One example is Brook’s long vacant 21,000 square foot parcel on First Avenue near Kingsley Street [shown in the featured photo].

“The site as it sits was a 32 unit apartment building that was abandoned in 2005,” Brooks said. “We are going to propose to build 24 condominiums above a parking level. In addition above the parking level on the North side of the building is a 6,000sf amenity deck which has a large pool and areas for lounge chairs, barbeque grills, tables and chairs. Surfboard and bike Storage will be located on the parking level for easy access to the street or the owners vehicle.”

The amendment was first approved by the Planning Board to ensure changes were in line with the recently updated master plan – a comprehensive outline of the City’s long-range land use vision, before being introduced as an ordinance for approval by City Council, City Spokeswoman Sonia Spina said.

“The amendment outlines a fair and simple procedure for property owners to become subsequent redevelopers, if desired, while still working within the legal framework of the existing redevelopment plan regulations, the redeveloper’s agreement, and the redeveloper’s special assessment obligation,” she said.

Property owners will still have to obtain a subsequent developer’s agreement from iStar before entering into a subsequent developer’s agreement with the City.For property owners of lots that measure less than 15,000 square feet, a variance can be sought for deviating from the minimum lot size, but variances cannot be sought for parking requirements, Spina said.

For more information about the City of Asbury Park, visit cityofasburypark.com.

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