The planned Southbank site, above, with the North Shrewsbury Ice Boat & Yacht Club visible in the center. Below, a rendering of the planned condos. (Photo by John T. Ward; rendered by Rotwein + Blake. Click to enlarge.)


After two false starts this century, construction has begun on 10 luxurious townhouses overlooking the Navesink River from a cliff in downtown Red Bank.

Developer Steve Denholtz at the site Tuesday. (Photo by John T. Ward. Click to enlarge.)

Dubbed Southbank, the project takes place on a vacant lot between West Front Street and Union Street, along Boat Club Court.

Borough-based Denholtz Properties obtained zoning board approval for the project in April 2019. Its plan calls for five one-story condos topped with five two-story units, with 26 parking spaces for tenants. under the structure and eight others on display.

In a groundbreaking ceremony Tuesday morning, Mayor Pasquale Menna called out the half-acre bluff, which overlooks the North Shrewsbury Ice Boat & Yacht Club and the Monmouth Boat Club, a “difficult site”, which since thirty years has been “a dirty and dilapidated parking lot.”

“The view is superb. The property is not that beautiful, ”he said.

As previously stated by rougebancvert, separate development plans for the property were approved by the borough in 2004 and 2015, but none came to fruition. (Menna incorrectly referred to the first as a “24-story tower”; a 24-unit, six-story building was approved.)

When completed, Menna said, Southbank will be “a top address” at Red Bank.

“At the end of the day, we need housing. We need economic development, ”Menna said. “Development is not a bad word. Development is a good word. It will put a lot of people on this site, who live here, and others who visit them, who will go to our restaurants, who will spend money.

Company CEO Steve Denholtz said rougebancvert he hopes to complete the project in about a year. Contracts on two units have been signed, he said.

The company is also building an office-residential-commercial project called the Rail next to Red Bank Station, around its own headquarters on Chestnut Street. This 57-unit project is now expected to be completed in early 2022.

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