[Nexis4Jersey]

IStar unveils plans for 16 story tower on Esperanza site

By Michelle Gladden



Master waterfront redeveloper iStar Residential outlined its plans for a new 16 story high-rise at the former Esperanza site during Tuesday night’s Technical Review Committee [TRC] meeting.

“This obviously has been a long time coming,” said iStar Senior Vice President of Development Brian Cheripka. “We said all along that we were going to take our time and work our way up to this project…We strongly believe that now is the time to deliver this project to the community.”

Designed by Gary Handel of Handel Architects, headquartered in New York, the mixed use development on Ocean Avenue includes retail space, a boutique hotel, luxury condominiums and a three-story parking garage.

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