■ Hospitality and Tourism
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The Jersey Shore has emphasized mitigating storm damage by building storm fencing and planting natural sea grasses .
Photo : Getty Images / iStockphoto doesn ’ t seem to deter home purchasers . For the past six years or so , rates for older homes in low-lying areas have been rising about 25 % annually . Homes that are built to new codes , or elevated to meet them , haven ’ t risen as much . The older , pre-Sandy flood maps are still in effect in the Lavallette area , buyers are aware that when the revised flood zone maps are soon issued , the cost of flood insurance will increase ; but most of the homes devastated by the super storm have already been rebuilt and / or raised to meet the elevation requirements . Beach replenishment including dunes with vegetation , has helped ease some of the flooding concerns .
A short drive north along the beach , Long Branch has reinvented itself as an affluent Jersey Shore destination . After a fire destroyed the Long Branch pier and Kids World amusement park in 1987 , the land remained abandoned for nearly 20 years . By 2002 , the last of the Long Branch amusement area met the wrecking ball , and construction was begun on Pier Village . Built in three phases starting with a new boardwalk , Pier Village includes 536 rental residences , more than 100,000 square feet of retail space and a grassy area called Festival Plaza where events like concerts , fairs , and outdoor movies are hosted .
There are three restaurants situated on the boardwalk facing the ocean : Avenue , Sirena and McLoone ’ s . The developers also opened
The work-at-home model saves employees commuting time and travel expenses and saves employers the expense of rent and retrofitting their offices for socially distanced workspaces .
up a members-only beach club called Le Club , a 25,000-square-foot resort housed in a modern tri-level building featuring a rooftop pool and sun deck and a private beach area with palm trees and cabanas . Travel & Leisure Magazine named it one of “ 20 Great American Beaches " in its July 2007 issue , and New York Magazine profiled it in its annual summer issue .
The third phase of the Pier Village project was the construction of 245 luxury condos called The Lofts Pier Village . According to the developers , a wide variety of people of all age groups are buying these luxury units overlooking the beach . With prices ranging from the low $ 600 ’ s to around $ 2 million and amenities like outdoor lap pool and cabanas , attended lobbies , private fitness and yoga studios , residents ’ lounge with catering for private entertainment , and an expansive pool deck with towel service , the Lofts is truly a contemporary oasis where residents can indulge in a relaxing beach day , a vigorous workout , and some much-needed retail therapy all in one spot .
Building on the success of Pier Village , the construction of a number of luxury condo developments continues to reshape the Long Branch shoreline . Easy access to transportation and year-round activities and events make the city more than just a summer destination .
It has been less than a decade since Hurricane Sandy , yet its impact on investor psychology ,
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