Major seaside heights condo project "in limbo" over financing problems, mayor says

Major Seaside Heights Condo Project “In Limbo” Over Financing Problems, Mayor Says

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2 mins read
May 25, 2025

SEASIDE HEIGHTS, N.J. — A long-promised redevelopment project in Seaside Heights remains stalled as other construction surges forward around it, leaving a prime piece of real estate in limbo more than three years after it was announced.

It used to be one of the most happening spots on the barrier island. The corner of Hamilton Avenue and the Boulevard was once home to Baby O’s (Club XS), and the Yakety Yak Cafe, two of many former night club hot spots that once operated on the Boulevard.

When the nightclub scene died, thanks in part to the borough’s push to get rid of all of the bars on the Boulevard, a new idea emerged. That project’s steel frame was an eyesore for years, until it was demolished in 2021.

It was replaced with a new vision which so far, has met the same result.

The proposed 10-story building at the former site of a steel skeleton structure on the Boulevard between Hamilton and Webster avenues has yet to see new construction activity. The lot has remained vacant since the steel frame was torn down in summer 2021.

Mayor Anthony Vaz said the delay stems from financial concerns. “It’s in limbo,” Vaz said, noting that SSH Boulevard LLC has not yet demonstrated adequate funding for the project. The developer originally pitched a mixed-use building with 79 residential units, a restaurant and retail space.

Despite the lack of visible progress, the Seaside Heights Borough Council voted Wednesday to officially designate SSH Boulevard LLC as the redeveloper of the site, giving the company a formal role in the borough’s revitalization plans. The site has long been considered an eyesore in a prominent stretch of town.

Since the project’s initial announcement in 2021, several nearby developments have broken ground and opened, highlighting the contrast in progress. The Boulevard, once dotted with underutilized lots, now shows signs of transformation with new restaurants, condominiums and commercial properties.

Developer team with sordid political ties

SSH Boulevard LLC is made up of a group with ties to both the construction and political sectors. Members include Dan Matarese, owner of Danco General Contracting Inc. of Marlboro; Zach Rich, director of concrete promotion and sales for Silvi Group and a Republican commissioner in Hunterdon County; attorney Douglas Steinhardt, a partner at Florio Perrucci Steinhardt Cappelli Tipton & Taylor and former chairman of the New Jersey State Republican Committee; and Joanne Gilmore, a paralegal and consultant married to former Ocean County GOP Chairman and convicted felon, pardoned by President Donald J. Trump. George R. Gilmore.

Gilmore, who has his hands in many projects around Ocean County, including a proposed homeless shelter on Route 9 in Toms River, and the key political backer behind GOP candidate for Governor Bill Spadea, appears to be in a mess, not only in Seaside Heights, but in other financial and political endeavors.

The developer demolished the former steel structure in 2021 in preparation for the proposed building, but little has occurred at the site since then. Borough officials and residents have expressed frustration over the slow pace of redevelopment.

The newly formalized redeveloper status could open the door to further negotiations or potential financial planning between the borough and SSH Boulevard LLC, though no timeline has been offered for next steps. The borough has not indicated whether it would consider terminating the designation if delays continue.

Insiders within the development community speculate that funding for the project has been hindered by Gilmore’s stake in the project. Several prominent investors have rejected the chairman’s lobbying for funding.

As other construction advances throughout Seaside Heights, attention remains focused on whether SSH Boulevard LLC can move the high-profile project beyond its current impasse.

Phil Stilton is the Editor and Publisher of Shore News Network, an independent digital newsroom providing original reporting on New Jersey, national news, government, public policy, public safety, courts, and community affairs.

As founder of the publication, Stilton leads editorial strategy, investigative reporting, and daily newsroom operations while overseeing coverage that reaches millions of readers annually.

With extensive experience covering municipal government, county government, state legislatures, elections, law enforcement, emergency management, and public records, Stilton specializes in translating complex government actions into clear, factual reporting. His work frequently relies on primary source documents, including court filings, legislation, public meeting records, election finance disclosures, government databases, police reports, and Freedom of Information and Open Public Records Act (OPRA) requests. He has reported extensively on local government accountability, taxpayer spending, campaign finance, public corruption investigations, infrastructure, public safety, and the policies affecting New Jersey residents.

Under Stilton's editorial leadership, Shore News Network has grown into one of New Jersey's largest independent digital news organizations, publishing thousands of original news articles each year while providing breaking news coverage, investigative reporting, and analysis across state and local government. The publication's reporting is routinely sourced from official government agencies, public officials, court records, and firsthand documentation, with a commitment to transparency, attribution, corrections when warranted, and clearly distinguishing factual reporting from opinion.

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