--- In AsburyPark@yahoogroups.com, "wernerapnj" <[EMAIL PROTECTED]>
wrote:
>
> --- In AsburyPark@yahoogroups.com, "arhythmick" <arhythmick@>
wrote:
>
> > Why can't DePetro and Fasano make deals with Asbury Partners to
> develop
> > like Paramount, Metro and Westminster did?
> >
>
> Depetro, Fasano, etc, do not have the resources comparable to the
> others. Fishman's financial terms are so unreasonable as to make
only
> HUGE development over several years possible.
>
> Large companies can absorb the costs and amortize them over a long
time
> period. Others can not.
> One of the reasons things are moving at a snail's pace.
>
> Werner
>
So is Asbury Partners actively looking for builders to take on these
properties?
If you look at Madison Marquette's website (Asbury Partners' new
retail partner) under Asbury Park they show the waterfront
redevelopment area. You will see that Paramount has 5 city blocks
with 5 phases coming...Metro has several and so does Westminster.
These will not happen at the same time though. Each builder will be
doing one phase at a time. Does anyone know what Asbury partners'
plan is quickly to develop the rest of the area? It seems like they
should be actively pursuing interest...since they are making money
on each new condo sold, why don't they agree that the faster the
development the better?
Thanks for any insight.
>
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