The twin buildings at 392 Ocean Avenue, known as Sea View Towers, should be demolished soon.
Long Branch Business Administrator Howard Woolley said the developer has cleared its review process by the county and is now awaiting final approval from the New Jersey Department of Environmental Protection.
Once the developer receives approval, the buildings are expected to be knocked down to make way for a single, 12-story building that will house a maximum of 100 residential condominium units.
The building will have 249 parking spaces in an underground parking garage and 55 additional spaces will be added along Ocean Avenue and South Bath Avenue for the public.
The building will feature a sloped design on its eastern front so it will reportedly not block the sun on Ocean Avenue during the summer months. It will also have a luxury health spa/gym, and indoor and outdoor pools. The spa will be reserved for residents but there will also be limited seasonal membership.
The Long Branch Planning Board approved the project in 2013.