Manasquan Bank said it served as the sole institutional lender for THRIVE Red Bank, a neuroinclusive housing development that officially broke ground on July 30.
Bank executives were on-site to support the ribbon-cutting ceremony, celebrating the start of a development that will offer life-changing opportunities for neurodivergent adults and serve as a model for inclusive living.
Located at 273 Shrewsbury Ave, the 34,000-square-foot housing development will feature 32 thoughtfully designed one-bedroom apartments, along with shared amenities that promote connection, wellness and personal growth. These will include a sensory room, teaching kitchen, wellness space and a community engagement area. Completion is expected in 2027.
“This project is about more than construction. It’s about hope, independence, and building a more inclusive future for a community in need,” James Vaccaro, chair, president, and CEO of Manasquan Bank. “We are incredibly proud to be the sole banking partner for THRIVE Red Bank. It represents the kind of meaningful impact that defines who we are as a community bank.”
The Bank’s involvement was led by Christina Paccione, SVP, commercial lending officer, who worked closely with the THRIVE Red Bank leadership team to deliver a financing solution that supported the project’s vision.
“From the very first conversation, it was clear this development would be something special,” said Paccione. “THRIVE Red Bank addresses a critical need with care and compassion. We are honored to support a community where individuals can live confidently, independently, and with the support they deserve.”
THRIVE Red Bank stands as a testament to what can be achieved when local investment is guided by values. Through Manasquan Bank’s commitment as sole institutional lender, this development brings lasting, positive change to individuals and families across the region, expanding access to housing that is thoughtful, inclusive, and empowering.
“At Manasquan Bank, we don’t just finance projects, we fund progress,” Vaccaro added. “This is the kind of work that lifts others, strengthens neighborhoods, and further fortifies our institutional legacy as the consummate community bank.”
