It's wonderful news that somebody wants to bring the Shore Theater to life, but somebody has to ask the question - What has PYE Properties developed before? I found their website here. Kind of confusing. Another property they owned, Royal Gym, I think they sold to Schron for the Neptune Sixth mall development.
It seems like a lot of their other properties have been sold as well.
Update - Seems like their website is down. Here is the cache version from Google