Asbury Park City Council has taken a significant step towards addressing housing needs in the community by approving a new residential development plan that includes 20% income-restricted units. This decision, made during the council meeting on December 11, 2024, aims to enhance the main street corridor, which has historically received less investment compared to the waterfront and other areas of the city.

The proposed development will replace a conceptual plan for six single-family residences with a larger residential building next to a local church. City officials believe this project will provide financial benefits to Asbury Park, as it is expected to generate more revenue than the previously considered single-family homes.

During the public participation segment of the meeting, residents voiced concerns about parking shortages in the Southeast quadrant of the city, particularly around Bond Street. One resident highlighted the inadequate parking situation, noting that the area struggles to accommodate the number of vehicles, especially during weekends and summer months. With the new development proposing 90 units but only providing 74 parking spaces, community members expressed skepticism about the feasibility of the plan.

Additionally, concerns were raised regarding the proposed Payment in Lieu of Taxes (PILOT) agreement, which would exempt the new development from paying school taxes. Residents argued that this could negatively impact the school budget, as fewer taxpayers would mean higher costs for those remaining.

The council's decision to move forward with the residential project reflects a commitment to increasing housing availability while also addressing community concerns about infrastructure and funding for local schools. As the project progresses, further discussions will be necessary to ensure that the needs of all residents are met.