- Associated Press - Thursday, December 14, 2017

LONG BRANCH, N.J. (AP) - Long Branch officials and a developer have agreed on a mixed-use redevelopment plan to revitalize a downtown portion of the New Jersey city.

The Asbury Park Press reports the Montville-based firm Long Branch Partners has agreed to build 590 apartments, a commercial space for stores and restaurants and 1,255 parking spaces in the city’s lower Broadway area. Long Branch Partners‘ investment will total about $175 million.

In turn, the city will provide a $5 billion redevelopment bond for road improvements. Long Branch administrator Kevin Hayes says city will develop two parking garages as well.

Construction on the project will be divided into four phases.

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Information from: Asbury Park (N.J.) Press, http://www.app.com

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