ASBURY PARK - Heaps of dirt and overgrown grass scar the empty lot at the intersection of Springwood and Sylvan avenues, the future site of a new affordable housing project, in an area sorely in need of such renewal.

The $20 million project, called The Renaissance, is scheduled to open in April 2019. It will feature three low-rise buildings and 64 residential housing units. Dignitaries from City Council, the state legislature, the Monmouth County Board of Freeholders and developers held a groundbreaking ceremony at the site Tuesday. You can watch video of the groundbreaking above.

The apartments will rent from anywhere between $300 a month and $1,400 per month, according to Ginger Dawson, vice president of The Michaels Development Co., which is spearheading the project.

"After being treated as somewhat of a stepchild, Asbury's west side (of) Springwood Avenue is seeing a resurgence in investment and development," Dawson said.

Sandy Cipillone, senior vice president of Interstate Realty Management Co., an arm of Michaels, said the housing would be available on a "first come-first serve" basis for people who apply and meet eligibility requirements.

"For decades this community has been waiting for this," said the Rev. Derinzer Johnson, pastor of St. Stephen A.M.E. Zion Church on Springwood Avenue, who gave an invocation at the groundbreaking ceremony.

Cipillone said applications are expected to be available about three months before the doors open. During the initial 90-day leasing period, priority will be given to people whose homes were destroyed or experienced major damage during superstorm Sandy. Five units will be reserved for homeless families, with a preference for homeless veterans.

To qualify for housing, eligible applicants can earn no more than 60 percent of the median income in the Monmouth County area. For a family of four, that means earning about $54,000 or less.

The median income in Asbury Park is just $32,000 per household, according to data from the U.S. Census Bureau. That is considerably less than the Monmouth County median household income of $94,000, according to the most recent New Jersey statistics provided by the Department of Housing and Urban Development.

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As the city has experienced surging popularity in recent years, demand for affordable housing has climbed as well, as the video below illustrates. Earlier this year Budget Travel Magazine named the city "The Coolest Small Town in America."

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Councilwoman Yvonne Clayton, who was a leading advocate for The Renaissance project, said more needed to be done to promote affordable housing in the city.

The city is studying a number of measures, including an inclusionary zoning ordinance, which would mandate new developments set aside a certain amount of housing units for low- and moderate-income families.

Funding for The Renaissance project includes $7.3 million in private equity raised through the sale of Federal Low Income Housing Tax Credits.

The New Jersey Housing and Mortgage Finance Agency also provided $2.5 million in construction financing and $8.8 million in disaster recovery funds. The Monmouth County HOME fund also donated about $500,000.

Community leaders said they hoped the new housing would spark more development in in the Springwood Avenue area.

Historically, Springwood Avenue was part of a teeming business community. There were jazz clubs and grocery markets, as well as clothing stores. To get a glimpse of how the city has changed over the years, look at the video below, the Changing Face of Asbury Park.

But that era came to an end after the riots that damaged the city in 1970, according to city historian Werner Baumgartner.

"I think the riots were the final event that destroyed literally by fire and demolition the Springwood Avenue corridor," Baumgartner said, in a phone interview with the Press. "I think it went into decline prior to 1970 along with most of the beachfront. It was a bad time for many urban areas in terms of lack of employment and people moving to the suburbs, combined with a lack of investment in urban infrastructure."

Monmouth County Deputy Freeholder Director John P. Curley said the new housing was a testament to the city's resilience.

"I remember the late '60s I was a teenager, I remember when this section of Asbury Park burned," Curley said. "You have to know where you've been to know where you're going."

Austin Bogues 732-643-4009; abogues@gannettnj.com