I-Team Investigates: The redevelopment of Asbury Park ? Part II

Some say Asbury Park has fallen on hard times. Now the city says a billion-dollar redevelopment plan will turn things around. News 12 New Jersey and the Asbury Park Press are teaming up to take a closer look at Asbury Park's billion dollar effort to rebuild.

The City of Asbury Park says its plan to redevelop will attract homeowners, create jobs and improve the quality of life for everyone who lives there. However, opponents of the plan disagree. Some worry the project will create million dollar homes on the water and on Cookman Avenue there will be continued poverty.

The city and its developer plan to build more than 3,000 condos on the oceanfront. City officials say money from the oceanfront will help subsidize development on the Westside, where more than 100 affordable homes are planned.

Opponents say in the chase for more property taxes, the city is giving away stores and land. Other opponents say the city has sold priceless landmarks, such as the Asbury Casino, for far below the market value. However, city officials say they only agreed to sell buildings, such as the casino, if the developer agreed to restore them.

Related Video:Click here to see additional comments from a developer involved in the project.

Related Link:Asbury Park Press


sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Time Warner® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 5 view limit
Access to News 12 is free for Optimum, Comcast®, Time Warner® and Service ElectricSM customers.
Please login, create an account or subscribe to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."