iStar Residential Unveils Plans for its 2013 Summer Experience at the Asbury Park Waterfront

iStar Residential, through its subsidiary Asbury Partners, the Master Developer of the Asbury Park Waterfront, has unveiled plans to enhance the summer experience for residents and visitors of the City’s historic waterfront.  The program, which was approved Monday night by the planning board, will launch on July 1,2013 and run through Labor Day.  The focus will be on enriching the Asbury
Park summer experience by creating an opportunity for daily visitors who come to the beach to extend their stay and experience all that the City has to offer. 

Summer Experience packages will be offered at both seasonal and daily rates. The package will feature access to a beachfront station with oversized lockers for storage of personal belongings, air-conditioned bathrooms, private showers and changing stations.  This area will also feature shade structures, located in hammock gardens, where season pass holders can relax and take a break from the sun.  With the expected sell-out of the VIVE townhome community in the coming weeks, iStar will also be revamping its VIVE sales center for the summer season, creating a Waterfront Headquarters where visitors can see site plans for the redevelopment area, share their ideas at input stations, and purchase an experience package season pass which will allow access to this relaxation area.  As part of this initiative, thirty to forty Crew Members will be hired to assist residents and visitors with their beach items, respond to any questions, offer area information and recommendations and provide umbrella and beach services for season pass holders.  

“We want to keep the momentum going in Asbury Park and provide the opportunity for visitors to experience firsthand what it’s like to be a resident of this great City.  We don’t want people to feel they have to leave after only spending a day on the beach,” said Jan Cooper, Vice President of Strategic Marketing and Planning for iStar.  “We know that once people experience the Waterfront and get a full taste of the City’s ambiance, they’ll want to call Asbury Park home.”

iStar also has plans to continue their investment in the overall look and feel of the Waterfront and will continue to invest in additional street, landscape and curbside improvements.  The improvement project, which is currently on-going, will also include a new landscaped plaza at the southern end of the boardwalk and new green space improvements at the 1^st Avenue and 4^th Avenue pavilions.

To learn more about iStar’s Summer Experience Program and to purchase a season or daily pass, please visit www.asburyparkwaterfront.com.

About iStar Residential

iStar Residential is one of the largest investors in luxury condominium, multifamily and master-planned residential developments throughout the United States, having financed and invested in $10 billion of residential projects since 1993.  The iStar Residential portfolio has included interests in over 18,000 condominium units in the nation’s top markets and 65,000 acres in master planned communities having the potential for an estimated 50,000 single family and multifamily units. The Company’s unique, fully-integrated platform extends from property entitlement and development to construction, bridge and long-term financing through asset servicing, property and portfolio management.

iStar Residential is a division of iStar Financial, a $6 billion finance and investment company focused on the real estate industry and traded on the New York Stock Exchange under the symbol “SFI”.