Asbury Park deemed a success.

A 15% beach and boardwalk revenue increase for the second consecutive year, physical improvements within the Oceanfront Asbury waterfront redevelopment area and stepped-up programming and attractions punctuated the continued re-emergence of Asbury Park as a prime Jersey Shore destination. And the long-anticipated start of residential construction within the 56-acre redevelopment will take the city's momentum to a new level.

"Summer 2004 confirmed the potential fiscal and aesthetic benefits of Oceanfront Asbury for the City of Asbury Park, and we have only scratched the surface of what is to come," said Larry Fishman, chief operating officer for Asbury Partners, LLC, the city-appointed master developer for Oceanfront Asbury. "The newly renovated boardwalk, seasonal concessions, pristine beaches and crystal waters set the stage for weekends filled with events and entertainment sponsored by the city and our organization."

For the Fourth of July, thousands were drawn by a gala parade and fireworks celebration, professional volleyball tournament and live music on the beach and boardwalk. Other summer weekend highlights organized by Asbury Partners' Oceanfront Asbury Entertainment included the well-attended Clearwater Music Festival and Guitarbeque, featuring blues music and award-winning barbeque.

In addition, a full schedule of concerts and programs at the renowned Convention Hall and Paramount Theatre complex helped to re-establish Asbury Park as a leading entertainment hub. On the beach, the City of Asbury Park and the Surfrider Foundation hosted two clinics for local youth, featuring beach safety tips and surfing lessons. In the first of what will likely become an annual event, the city also held a successful jet ski contest.

"Now, on the heels of a fabulous summer, we are moving into fall with shovels waiting to go into the ground for new residential construction," Fishman said.

Paramount Homes, Westminster Communities and a third developer to be announced will break ground for Phase I of their respective projects as subdevelopers for Oceanfront Asbury at a public celebration in October. In total, 3,164 residential units are planned. In addition, 45 years after the last renovation of Asbury Park's boardwalk pavilions, Asbury Partners plans to update and/or rebuild three such structures, which are nearing final approvals. Oceanfront Asbury will ultimately feature 450,000 s/f of retail and entertainment space.

"A great amount of progress will take place over !the coming months," Fishman said. "By this time next year, the physical evidence of Asbury Park's renaissance will be very real. We have reached an exciting juncture in which every component of Oceanfront Asbury--the retail and entertainment, the residential, the urban empowerment--is coming together to take this incredible public/private endeavor to the next level."

Oceanfront Asbury is expected to be completed in phases over 10 years. It will ultimately produce $1.25 billion in economic redevelopment and restore the City's stature as the "Jewel of the Jersey Shore."