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Asbury Park’s waterfront area will continue its transformation with a new ultra-luxury condominium project from Inspired by Somerset Development set to rise one block from the boardwalk and adjacent to the shore town’s iconic Wonder Bar.

The real estate redevelopment innovator behind Holmdel’s Bell Works announced July 21 it received site plan approval for an eight-story, mixed-use property at 115 Fourth Ave. with 155 residences along with a “Beach Club” lifestyle.

New York City-based Clodagh provided design for the project while architecture came from Minno & Wasko, which is based in Lambertville and Newark.

“This project represents our unwavering commitment to creating magnetic and thoughtfully designed living spaces that redefine the surrounding markets,” Ralph Zucker, CEO of Inspired by Somerset Development, said in a statement. “Following unanimous site plan approval, we’re thrilled to get started on what we believe will be a transformational property not only for Asbury Park but all of New Jersey.”

According to Inspired, the goal for the project is to create a “villas in the sky” effect for top floor units.

The single-family lifestyle condos will include airy and open one-, two- and three-bedroom layouts with high-end finishes, expansive wrap-around balconies and panoramic ocean views. Select homes will include private plunge pools and 16-foot ceilings, while ground-level residences will afford 20-foot ceilings.

The property’s amenities will include: a resident club room, spa, outdoor grills and fire pits, a fitness center and golf simulator, courtyard, and two pools, one of which will be open year-round.

The ground floor will feature 9,340 square feet of retail space as well as storage space for residents. Parking will be available in a three-story, private garage with 264 spaces located between the property’s two towers.

Construction is set to begin in 2024, Inspired by Somerset said. It was not clear when delivery of the project is anticipated, and Inspired by Somerset Development did not immediately respond to a request for comment.

Announced in 2022 as part of another $300 million investment in the city by iStar, the project will mark Inspired by Somerset’s entrance to Asbury Park.

Earlier this spring, Inspired by Somerset Development got to work on another Minno & Wasko-designed project in Long Branch. There, the former site of the Inkwell Coffee House will be transformed into a mixed-use apartment and retail building, also just one block from the beach.

“The Inspired team is so excited to enter this thriving community and work with existing businesses and residents to drive the area toward its fullest potential,” said Ken Gold, vice president of acquisitions and development at Inspired by Somerset Development. “We look forward to beginning sales and sharing more details in the months to come.”

‘Inspired‘ to do more than just get the job done (slideshow)

Inspired by Somerset Development recently launched a new business to help share the care it puts into crafting usable spaces with occupants’ needs and wants in mind. Read more about the vertical, and the personal touches that the developer says set it apart here.