Applied Development Company | In the News : Applied Unveils Rooftop Pool And Deck During Cocktail Party At Independence

CONTACT: Joel G. Cahn or George M. Cahn
Cahn Communications
(201) 996-9222
26 June 2003

LONG BRANCH, N.J. - Nearly half of the 100,000 square feet of retail space has been leased up at Pier Village, the new mixed-use community rising along Long Branch's burgeoning oceanfront.

Nine retailers including an exciting mix of restaurants, fashion and a unique beach club have already signed on to become a part of the new oceanfront community, according to Applied Development Company, Pier Village's developer.

The $95 million project, which is already more than 50% built out, will also include 420 luxury residential residences -- all in a pedestrian-friendly, village setting.
"We've received a tremendous response from the retail community which has recognized the unlimited potential this unique new development has to offer," notes Greg Russo, an Applied Vice President.

"With its oceanfront setting and central location convenient to the state's major roadways and mass transportation options, Pier Village is extremely accessible from numerous regions throughout New Jersey and New York City. What's more, the creative concept we've devised will culminate in a vibrant, sophisticated atmosphere that simply doesn't currently exist in the state. As a result, we're confident that Pier Village will emerge as a popular destination for the public year round."

The retail operations signed to date include McLoone's Riverside Dining, a restaurant and catering facility featuring casual, upscale American Cuisine; Stewart's Root Beer, a 1950's-style eatery; a yet-unnamed three-level restaurant and beach lounge; Rocky Mountain Chocolate Factory, the famous national candy chain; Island Trading Company, a chic boutique which sells such well-named brands as Tommy Bahama, Lily Pulitzer, Flax and Cutter & Buck; and an "Old Europe" shoppe dedicated to coffee, ice cream and desserts.

Also setting up shop will be It's Greek To Me, featuring authentic Greek specialties in a casual family-style setting; Kidegories, an upscale store featuring furnishings, room accessories and gifts for infants and children; The Turning Point, a breakfast and lunch restaurant with an adjoining News Café for patrons to dine on a healthy meal while also enjoying a variety of newspapers and magazines; and Ladies Work-out Express, the fast-growing, national fitness chain.

"It has always been kind of a dream of mine to own an oceanfront restaurant," said Turning Point owner Kirk Ruoff of Monmouth Beach. The Pier Village site will be Ruoff's fourth such breakfast and lunch café.

For Kidegories owner Dianne Totten of Sea Bright, the Long Branch oceanfront was the ideal setting for her to expand the popular children's gifts and furnishing shop concept she has successfully developed at The Grove in Shrewsbury.
"I believe Pier Village will rejuvenate the entire area," said Ms. Totten, who will also live in one of the community's spectacular new apartment residences.

The McLoone's restaurant will be located between the beach and the boardwalk and will accommodate more than 500 diners -- 300 on the main floor and 200 on a mezzanine level overlooking the ocean. Outdoor seating will also be available on an open patio and the boardwalk. The expansive restaurant space will accommodate large catered events.

The tri-level restaurant and beach lounge will be located between the boardwalk and ocean. The facility will feature beach cabanas, an 8,500 square-foot boardwalk level restaurant, and lockers and changing rooms on a 4,500 square-foot mezzanine level. The roof deck will boast an inviting pool and sundeck with food and beverage service throughout the day and evening. This level will also contain a fireplace and enclosed area that will be open year round.

"We're creating an upscale entertainment and cultural destination that will be active 12 months a year," Applied's Russo points out. "In addition to the restaurants and cafes, we're looking at a jazz club, a bakery, additional gourmet food stores, a seafood market, a wine store, home furnishings and a day spa/health club.
Recreational and social activities will also play a role at Pier Village, including live theater, concerts, farmers markets, arts & crafts exhibits, food festivals, and holiday activities with ice skating, horse-drawn carriage rides and decorations.

For more information on leasing retail space at Pier Village, please call (800) 266-0514. You can also visit the Pier Village website at www.piervillage.com


		CONTACT: Joel G. Cahn or George M. Cahn Cahn Communications (201) 996-9222 26 June 2003 LONG BRANCH, N.J. - Nearly half of the 100,000 square feet of retail space has been leased up at Pier Village, the new mixed-use community rising along Long Branch's burgeoning oceanfront. Nine retailers including an exciting mix of restaurants, fashion and a unique beach club have already signed on to become a part of the new oceanfront community, according to Applied Development Company, Pier Village's developer. The $95 million project, which is already more than 50% built out, will also include 420 luxury residential residences -- all in a pedestrian-friendly, village setting. "We've received a tremendous response from the retail community which has recognized the unlimited potential this unique new development has to offer," notes Greg Russo, an Applied Vice President. "With its oceanfront setting and central location convenient to the state's major roadways and mass transportation options, Pier Village is extremely accessible from numerous regions throughout New Jersey and New York City. What's more, the creative concept we've devised will culminate in a vibrant, sophisticated atmosphere that simply doesn't currently exist in the state. As a result, we're confident that Pier Village will emerge as a popular destination for the public year round." The retail operations signed to date include McLoone's Riverside Dining, a restaurant and catering facility featuring casual, upscale American Cuisine; Stewart's Root Beer, a 1950's-style eatery; a yet-unnamed three-level restaurant and beach lounge; Rocky Mountain Chocolate Factory, the famous national candy chain; Island Trading Company, a chic boutique which sells such well-named brands as Tommy Bahama, Lily Pulitzer, Flax and Cutter & Buck; and an "Old Europe" shoppe dedicated to coffee, ice cream and desserts. Also setting up shop will be It's Greek To Me, featuring authentic Greek specialties in a casual family-style setting; Kidegories, an upscale store featuring furnishings, room accessories and gifts for infants and children; The Turning Point, a breakfast and lunch restaurant with an adjoining News Café for patrons to dine on a healthy meal while also enjoying a variety of newspapers and magazines; and Ladies Work-out Express, the fast-growing, national fitness chain. "It has always been kind of a dream of mine to own an oceanfront restaurant," said Turning Point owner Kirk Ruoff of Monmouth Beach. The Pier Village site will be Ruoff's fourth such breakfast and lunch café. For Kidegories owner Dianne Totten of Sea Bright, the Long Branch oceanfront was the ideal setting for her to expand the popular children's gifts and furnishing shop concept she has successfully developed at The Grove in Shrewsbury. "I believe Pier Village will rejuvenate the entire area," said Ms. Totten, who will also live in one of the community's spectacular new apartment residences. The McLoone's restaurant will be located between the beach and the boardwalk and will accommodate more than 500 diners -- 300 on the main floor and 200 on a mezzanine level overlooking the ocean. Outdoor seating will also be available on an open patio and the boardwalk. The expansive restaurant space will accommodate large catered events. The tri-level restaurant and beach lounge will be located between the boardwalk and ocean. The facility will feature beach cabanas, an 8,500 square-foot boardwalk level restaurant, and lockers and changing rooms on a 4,500 square-foot mezzanine level. The roof deck will boast an inviting pool and sundeck with food and beverage service throughout the day and evening. This level will also contain a fireplace and enclosed area that will be open year round. "We're creating an upscale entertainment and cultural destination that will be active 12 months a year," Applied's Russo points out. "In addition to the restaurants and cafes, we're looking at a jazz club, a bakery, additional gourmet food stores, a seafood market, a wine store, home furnishings and a day spa/health club. Recreational and social activities will also play a role at Pier Village, including live theater, concerts, farmers markets, arts & crafts exhibits, food festivals, and holiday activities with ice skating, horse-drawn carriage rides and decorations. For more information on leasing retail space at Pier Village, please call (800) 266-0514. You can also visit the Pier Village website at www.piervillage.com	George Cahn President Cahn Communications 1401 Washington Street Suite 300 Hoboken, NJ 07030 Tel: (201) 876-3100 gcahn@cahncomm.com