Inspired by Somerset Development is proud to announce the closing of a $211M construction loan from Madison Realty Capital and Cottonwood Group for LIDO Asbury Park. This major financing milestone coincides with significant construction progress as we continue to bring the Jersey Shore’s most elevated luxury residential offering to life.

Following the establishment of our foundation, the development 
is successfully entering its next major phase.

• The project’s structural groundwork is now fully complete
• The North Tower is officially beginning its vertical ascent
• Overall construction remains firmly on track for completion in 2028

From the beginning, LIDO has been envisioned as more than 
a residential building—it is a new expression of coastal luxury inspired by the energy, creativity and natural beauty of Asbury Park. As construction continues, we’ll continue sharing behind-the-scenes updates as this extraordinary community takes shape.