NJEDA CAFE Program will Support Asbury Park Convention Hall Renovations

TRENTON, N.J. (August 24, 2026) – The New Jersey Economic Development Authority (NJEDA) Board approved a Cultural Arts Facilities Expansion (CAFE) Program award to support the Asbury Park Convention Hall’s $130 million renovation project. The investment in the 97-year-old convention hall in Monmouth County will expand equitable access to the performing arts for residents across the state, while catalyzing local economic development and revitalizing an important cultural anchor.

“For nearly a century, the Asbury Park Convention Hall has served as an iconic landmark that provides top-tier arts entertainment and programming for residents and visitors. It’s exciting for the NJEDA, under Governor Sherrill’s leadership, to be a part of this next chapter in its ongoing legacy,” said NJEDA Chief Executive Officer Evan Weiss. “Through investments in the arts and culture sector, the CAFE Program is helping drive new economic activity into communities and ensuring cultural hubs can continue serving the public for future generations.”

The Asbury Park Convention Hall Music & Performance Venue’s Restoration, Revitalization & Modernization Project will rehabilitate the 1920s-era performing arts center, which includes the Convention Hall, the Grand Arcade, and the Paramount Theater on the Asbury Park Boardwalk.  The entire complex will undergo a comprehensive restoration – inside and out – in accordance with historic preservation standards, revitalizing structural, mechanical, architectural, features, including the marquee, lobbies, mezzanines, storefronts, and performance spaces. ADA access upgrades will ensure the landmark is welcoming and inclusive for all visitors as it enters its next century of service.

Beyond its significance to Asbury Park, securing the future of this irreplaceable cultural landmark will serve as a cultural and economic asset for the entire State of New Jersey, drawing visitors and artists from near and far. The project’s goal to attract world-class talent will elevate New Jersey’s cultural profile far beyond the local community, creating ripple effects that bolster the state’s music, arts, and tourism sectors.

“Asbury Park is rooted in music, and the legendary Convention Hall is a center of that,” said Gary Mottola, President, Madison Marquette Asbury. “This CAFE award will ensure that Asbury Park remains a cultural heartbeat of the State for generations to come.”

First opened in 1929, the Convention Hall complex has hosted diverse programming spanning music, theater, dance, film, sports, conventions, and civic events, establishing it as a vital component of New Jersey’s creative and cultural landscape. The comprehensive upgrades will enhance the complex’s ability to attract top performers and diverse audiences while honoring its legacy as a symbol of cultural pride, resilience, and artistic expression. The project is approved for up to $75 million in CAFE Program tax credits.

“The City is thrilled about Madison’s approval application for the tax credits,” said Deputy Mayor Amy Quinn. “We thank the Sherrill administration and Senator Gopal for their support. This is a great step that has required years of work and negotiation. These credits come only if Madison stays in compliance. We look forward to working with the EDA and Madison Marquette to ensure one of the most historic and iconic structures on the East Coast is restored to its former glory.”

New Jersey’s arts and culture sector contributes billions of dollars in economic activity each year, drives tourism, and enhances quality-of-life for state residents. NJEDA initiatives like the CAFE Program and the Activation, Revitalization, and Transformation (A.R.T.) Program leverage the economic potential of arts and culture projects to boost foot traffic in downtowns and main streets across New Jersey, supporting local small businesses, creating jobs, bolstering engagement with the arts, and strengthening the vibrancy of communities. 

The CAFE Program aims to increase cultural arts activities, attract visitors, boost engagement with the arts in underserved communities, and revitalize downtowns by providing tax credits to build or renovate facilities, including aquariums, historical societies, libraries, galleries, and museums. Eligible awardees can receive tax credits covering up to 100 percent of eligible project costs, up to $75 million. 

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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