Monmouth Students Design New Look For Downtown Toms River Parcel

TOMS RIVER, NJ — Four Monmouth University students won a competition to redesign a parcel in downtown Toms River that is part of the town's Waterfront Redevelopment Area.

The students will present their proposal for 320 West Water St. to the public on Thursday, Dec. 12, Toms River officials said.

The Monmouth team won the second annual Intercollegiate Real Estate Academic Competition hosted by Kislak Real Estate Institute at Monmouth University. The competing teams — from Baruch College, Lehigh, Monmouth, Montclair State, Rutgers and Villanova — had four weeks to prepare an analysis of 320 West Water Street in Toms River and then present their proposed redevelopment project to two panels of judges.

Monmouth’s team, coached by Professor Irene McFarland, a professor at the Kislak Real Estate Institute, won for its waterfront redevelopment area of Allied Plumbing, due to its combination of ideas, feasibility analysis, methodology and presentation, the school said. Baruch finished second.

"We are extremely proud of the hard work and creative ideas the team put together," McFarland said. "This was their first time competing in this type of competition and the students learned much about real estate along with teamwork."

The property is part of the town's overall proposal to redevelop downtown into a walkable residential area that's also easy access for commuters heading to jobs at points north.

The proposal will be unveiled at 7 p.m. Dec. 12 in the Bishop Building at 101 Washington St. Free parking is available in the parking deck behind Town Hall.

The team was comprised of business students Brittany Leventoff of South Fallsburg, New York; James Azarian of Franklin Lakes; Isaac Beda of West Long Branch; and Michael Pavicic of Princeton.

Judges included Russell Sterling, principal, Sterling DiSanto and Associates; Neena Miller, senior vice president and chief credit officer, OceanFirst Bank; David Roberts, municipal planner, Toms River Township; Jonathan Fisher, senior vice president, K. Hovnanian Homes; Steven Denholtz, CEO, Denholtz; Kenneth Orchard, president, TriState Capital Bank; Stephen Santola, executive vice president, Woodmont Properties; and Matt Weilheimer, senior vice president, The Kislak Company.

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