May 31, 2005

North Beach Asbury Park Ribbon-Cutting Kicks Off Waterfront Revitalization Home Sales

Sales at North Beach Asbury Park, the first condominium community in the seashore city's waterfront revitalization, begin on Wednesday, June 1st. Developer Paramount Homes has over 200 scheduled appointments for June. Here at the opening of North Beach Asbury Park's Information Center are, left to right: Frank Belgiovine, Carolyn Villani, Eli Bleeman and Jeffrey Fernbach, all of Paramount Homes; Peter Davis and Jim Barlow, of Amboy National Bank; and Paramount Homes' Lara Schwager (photo: Andrei Jackamets).

Asbury Park, NJ (May 31, 2005) - The grand opening ribbon was cut today in a ceremony to mark the opening of sales at North Beach Asbury Park, the exciting new condominium community that heralds the dawn of a new "golden era" for historic Asbury Park. Starting tomorrow, sales of the Barcelona - North Beach's first residential building - will begin at a revolutionary Information Center at 1601 Ocean Boulevard.

The opening of sales at The Barcelona promises to be a boon for Asbury Park's ambitious waterfront revitalization project, which is aimed at returning the stunning beachfront to its former vibrancy and transforming the city's economy. Already, response to the project has been overwhelming.

"We have scheduled some 200 VIP buyer appointments for the month of June," said Carolyn Villani, vice president of sales and marketing for the community's developer, Paramount Homes. In addition, Villani said that there is already a 2,600-name waiting list for the first phase of 157 homes, which are being constructed in three buildings at North Beach.

Villani said that those potential buyers have every reason to be optimistic and patient. To satisfy the demand, Paramount Homes is already in pre-planning to build the next phases of the North Beach community.

"The response is very gratifying," added Jeffrey Fernbach, president of Paramount Homes. "When people plan to put their money down on new homes, it proves that our faith in the Asbury Park waterfront revitalization is justified. It also sets the right tone for the many great things that will happen in this city's future."

And the future looks bright: as homeowners purchase the elegant condominiums, a much-needed tax base will return to Asbury Park. This will allow the city to rebuild its schools and pay for enhanced municipal services. The revitalization is expected to create as many as 30,000 jobs for the city's residents, particularly in the construction and retail businesses. One program, AsburyWorks, has already trained employable residents to work directly on the redevelopment.

Prospective buyers' first introduction to the new community will be through the Information Center, which has been finished to showcase what they can expect from their North Beach homes. Its centerpiece is an 8' x 8' scale model that lays out how the community will look once it is finished. Visitors will also be treated to beautiful vignettes, a virtual animation sequence, and private, relaxed areas for individual consultations with sales representatives.

"It's important to acknowledge that North Beach buyers are purchasing much more than a beachfront home," Villani said. "They are part of a change."

That change is already well underway in Asbury Park this summer, with festivals and events every weekend, a newly-rebuilt boardwalk and accessible boardwalk with several new businesses, several brand new roads, as well as the flourishing restaurants and stores by Cookman Avenue.

"Our tag line for North Beach Asbury Park is 'where a new golden era is just beginning,'" said Fernbach. "You can see that it is already happening."