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Asbury Park developer details plans for Atlantic City property

Asbury Park developer details plans for Atlantic City property

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ATLANTIC CITY — An Asbury Park developer has plans to bring a restaurant, outdoor entertainment, hotel rooms and rental units to a beach block in the city.

Patrick Fasano, of Fasano Properties, wants to redevelop the center of the beach block between New York Avenue and St. James Place. The project, planned for 201 S. New York Ave., will be called the “Orange Loop” after the three orange properties on the Monopoly game board: New York, St. James and Tennessee Avenue, he said.

“I’ve been developing properties now for 40 years,” Fasano said. “In real life, it’s very much like Monopoly.”

Fasano said he’s bought 21 contiguous properties spanning the area for the project.

He’s hoping to bring a New Orleans-style restaurant called Bourré, a stage to host live bands in front of an outdoor bar and food court, parking spaces and a shipping container-style hotel with 40 rooms.

The project also includes the purchase and development of 12 apartment units.

Fasano said he wants to get visitors and residents out on the city streets, noting that historically the design of casinos has encouraged people to stay inside the building and on the Boardwalk.

“We’re going to do the exact opposite,” Fasano said.

Mayor Frank Gilliam’s office on Thursday announced Fasano’s interest in the city property, adding he would receive a grant to cover a site contamination assessment for the land.

The city said in January it would accept applications from commercial and multifamily residential developers to get funding for assessment services and to avoid the cost of testing. Developers could apply for funding through the city, thanks to a $300,000 grant from the Environmental Protection Agency.

Fasano said he expects to open the restaurant this summer and for the rest of the project to follow in summer 2019. Diana Grossman, a consultant working on the restaurant, said they are planning a July 14 opening weekend for the restaurant.

The project will complement the Tennessee Avenue project that is bringing new shops to the beach block, Fasano said.

The Leadership Studio, a yoga and community studio, opened in October, MADE Chocolate, a bean-to-bar chocolate shop, opened last month, and Hayday coffee shop and the Tennessee Avenue Beer Hall are aiming to open in the next several months.

“The development climate in Atlantic City has changed,” he said.

Contact: 609-272-7239 Twitter @ACPressSerpico


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