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26

5 Reasons Why Property in Long Branch is a Great Investment

Back in 1988, if you pictured the Long Branch of today most people would have told you that you had some real imagination. What was then a broken down and boarded-up National Guard Armory is now the Promenade Beach Club. The run-down, rat infested buildings that lined the boardwalk – victims of the Pier fire of 1987 – have been spectacularly transformed into McLoone’s Pier House, Avenue, and Sirena. And who dreamed then that the incredible Long Branch rebirth would include the shops, restaurants and apartments that make up the amazing Pier Village?

I submit that there’s still time to invest in this vision. What’s planned for down the road will be grand, and below are 5 reasons why I believe that Long Branch is a great investment…possibly the best investment on the Jersey Shore:

  1. The Redevelopment of Broadway.

    The redevelopment plan for Broadway Arts Center is seeing some renewed life. The master plan for the redevelopment of BAC called for taking the deteriorating downtown district and redeveloping it into a mixed-use arts and theater district. The project has been stalled for years due to a lack of funding caused by the downward economy and litigation. However, Summit-based Diversity Realty Advisors has recently assumed the mortgages from BAC, who have been in foreclosure proceedings since 2010, and their ultimate plan is to become the developer. Once the foreclosure is done, the City can sign a newagreement with a new developer.

    Your Long Branch investment is waiting!

  2. The Redevelopment of the Pier.

    In 1987, a massive fire descended on the Pier that housed the famous Haunted Mansion in Long Branch. Because of the heavy west wind, the fire spread quickly and destroyed the pier and most of the surrounding businesses. The plan is to rebuild the pier with high-end shops and restaurants and run a ferry from the pier to NYC. While the final development of the pier – which is expected to cost about $100 million – has a way to go, the design has been selected and this is currently the only plan in NJ for pier redevelopment that mixes transportation with entertainment.

  3. Development of a Transit Village.

    Long Branch is in the process of applying to the New Jersey Department of Transportation for a “transit village” designation. If the designation is approved, the area around the train station will be opened up to more types of high density commercial and residential development. The proposed mix of residential and retail units a quarter mile to the east and west of the train station will create a convenient environment forpeople to get to and from work or to run errands using public transportation.

  4. Hotel Expansion.

    United Capital Corp, the new owners of the Ocean Place Resort, recently won the right to adhere to the terms of the original master plan. The 1985 redevelopment plan called for a 2nd tower with 400 rooms and retail space. Depending on the market conditions, the plan is to break ground on the 2nd tower in the fall of 2015. They have just recently completed Phase I of their renovation plan, which included extensive renovations to the hotel’s exterior, new bathrooms, and new furnishings. Phase II is expected to begin in the Fall, and will include renovations to the lobby and dining rooms, the addition ofa new outside pool (for hotel guests only), and a larger Tiki Bar which will be open to the general public.

  5. Pier Village Phase 3.

    Construction has begun on Phase 3 of Pier Village and while no completion date has been set yet, the construction will be completed in phases. Phase 3 will include more rentals, retail, condominiums, parking, a hotel, and even a carousel.

In my opinion, investing in property in Long Branch is a no-brainer. Imagine the amazing opportunities that all of this future development will bring. The perfect Long Branch residence awaits you…all you have to do is call!

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