Asbury Park Convention Hall receives funding for $130 million renovation

The New Jersey Economic Development Authority (NJEDA) has approved a Cultural Arts Facilities Expansion (CAFE) Program award to support a $130 million renovation of the Asbury Park Convention Hall. The funding includes $75 million in tax credits awarded to Madison Asbury Retail, a subsidiary of the complex’s developer, Madison Marquette.

The restoration project aims to revitalize the 97-year-old landmark, which includes the Convention Hall, the Grand Arcade, and the Paramount Theater. The complex has been largely dormant since 2021 due to structural issues. The comprehensive overhaul will focus on structural, mechanical, and architectural improvements while adhering to historic preservation standards to maintain the venue’s vintage character.

Planned upgrades include modernizing the marquee, lobbies, mezzanines, storefronts, and performance spaces, alongside ADA accessibility improvements. The project is expected to take approximately three years to complete, with the goal of reopening the site as a year-round performing arts center and economic driver for Monmouth County.