Three-minute read
Asbury Park Press
LONG BRANCH -- Last March Kushner Cos. put the shovel to the ground and tossed the proverbial dirt in the air, launching the start of its transformative project to deliver 299 high-end apartments, a Superfresh grocery market and a cafe? to the neighborhood. It's a total investment of $130 million.
Just about one year later, the steel has risen out of the ground and the sound of workers hammering nails pierces the air as the new buildings take shape on lower Broadway's two former barren blocks.
"Our first residential building is almost completely framed. The foundation for the second building is nearing completion, with framing slated to begin shortly. The steel and framing for the grocer building are well underway, too," said Michael Sommer, Kushner's chief development officer.
Kushner Cos. is putting a pair of four-story apartment buildings across from each other at the corner of Second Avenue and Broadway, the first of which to go up is on Broadway's south side. The Superfresh is closer to the corner of Liberty Street on the north side of Broadway.
Sommer said they project the first residential units will be ready for tenants in the spring of 2026, while the whole project could be completed by the end of the year.
Also part of the project was a change to the street pattern at the intersection of Second, Broadway, North Broadway and South Broadway, where Kushner put a small traffic circle at the "five corners," where the four streets meet.
"We’re very excited with the progress made throughout the winter and we look forward to completing this important, long-awaited project," Kushner said.
30 years in the making
The redevelopment of lower Broadway is three decades in the making. In its heyday, the neighborhood was an active area of commerce, with theaters and small businesses. With the growth of commercial development on Routes 35 and 36, the neighborhood hit an economic downturn as people spent their dollars elsewhere. The city's beachfront also fell on hard times following the 1987 fire that burned down the amusement pier.
In 1996, the city embarked on an ambitious, and sometimes contentious redevelopment plan, designating several sections of the beachfront and lower Broadway as redevelopment zones.
While subsequent developers raced to the beachfront, lower Broadway, the essential gateway to the beach, was slow to recover. An early development group lost steam in the 2008 recession. The roughly 54 properties on lower Broadway were then purchased by another developer, Long Branch Partners, in 2014.
After a squabble in court with the city over back taxes and property rights, the partners were able to clear the landscape of the many derelict buildings before it decided to sell the properties to Kushner in 2018.
That sale took four years to complete, interrupted by the COVID pandemic and litigation over the sale contract which was settled amicably in court. In 2022, Kushner completed the purchase of the properties and associated liquor licenses for $21.6 million. Last year, its Broadway plans received final city approval.
When Jersey Shore native Dan Radel is not reporting the news, you can find him in a college classroom where he is a history professor. Reach him @danielradelapp; [email protected].