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RED BANK GARAGE: YELLOW BROOK’S ‘BEACON’

yellow-brook-3-052517-500x270-6291934Yellow Brook’s proposed project, dubbed the Beacon, as seen from the northwest. Borough hall is at lower right. The plan incorporates the freestanding Atlantic Glass property at the northwest corner of White Street and Maple Avenue. (Click to enlarge)

By JOHN T. WARD

[See correction below]

park-it-2017-license-plate-220x127-8716892Here are the highlights of the proposal for a new Red Bank parking garage submitted by Yellow Brook Property Company LLC, one of five developers to submit plans in response to a borough solicitation earlier this year.

yellow-brook-4-052517-500x197-2490671A rendering of the Beacon’s White Street facade. Below, Yellow Brook principal Roger Mumford leading a tour last July on the site of the T. Thomas Fortune House, which he is restoring. (Click to enlarge)

mumford-rogers-072716-220x165-8355970

White Street Proposal: The Beacon

Total parking spaces: 934, including 855 in a parking garage.

Total housing units: 236, including 60 for-sale condos, 176 rental units and 12 income-restricted apartments.

Commercial/office square footage: 7,100SF of retail

Ownership structure: Borough would own the parking garage.

Here’s the complete submission, with sensitive financial information redacted by the borough.

Yellow Brook, based in Red Bank and owned by Roger Mumford of Little Silver, built the 45-unit first phase of the Station Place apartment complex on Monmouth Street at West Street, which it later sold, and is now building the second phase of 12 subsidized-price units, called Oakland Square. [Correction: The original version of this post incorrectly reported that the new owner was building the affordable units.]

Yellow Brook also built number of single-family homes under the name Lincoln Square in the area of Bridge Avenue and Drs. James Parker Boulevard, where it has its office.

The company is now in the midst of a top-to-bottom rehabilitation of the historic T. Thomas Fortune house on Drs. Parker, where it also has approvals to construct 31 apartments on the one-acre site.

As reported by redbankgreen in April, Mumford is in the process of acquiring half a block’s worth of properties between Catherine and River streets east of Bridge Avenue where he hopes to win approval to build 22 “brownstone-style” townhomes.

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