New Pier Village General Manager Michael Pellegrino attended the Dec. 17 Greater Long Branch Area Business Meeting and spoke about the project.
"As you all know, there is going to be a Phase 3," Pellegrino said. "We expect at this point the completion of phase 3 in about two and half years."
Kushner Companies, along with its development partner, Extell Development Company, have closed on the first two preexisting phases of Pier Village. Long Branch Business Administrator Howard Woolley said he expects them to close on the third phase before the end of year.
Pier Village Phase 3 will consists of 300 condominium units, a 59,810-square-foot hotel, nearly 50,000 square feet of leasable retail space, an ocean-themed carousel, a 286 space self parking garage with capacity for at least 600 valet/stacker parking spaces, the acquisition of land to be used for additional public parking, boardwalk improvements and infrastructure, a children's play area and a stage. The third phase will be located on the large lot of land between Melrose Terrace and Morris Avenue where some infrastructure work was already completed by the previous owner, Ironstate Development.
Woolley said the city has been meeting with the new owners and said they want to build the third phase project "basically as designed with possibly some change in unit sizes." Any changes to the plan would have to be approved by the Long Branch Council before the plan can be executed.
Woolley said the city is excited about working with a new developer for the property"
"We're very grateful for what Applied did over the years, they took a very decrepit area and built a tremendous development for the city and now the Kushners and their partners want to move forward with it," he said.
Pellegrino said the plan is to improve Pier Village in as many ways as possible.
"We're having meetings with all the commercial tenants, we're listening to the residential tenants to find out what they say is right and what is wrong," Pellegrino said. "We're going to come up with a plan as to how to improve it, make it better and bring more people to the village all year round as much as we can."