The Fort Monmouth Economic Revitalization Authority (FMERA) hosted an event on Jan. 26 for members of the media to commemorate the recent acquisition of the entire Fort property from the U.S. Army and learn about redevelopment projects underway. The purchase paves the way for FMERA to begin redevelopment of nearly one square mile of property in Eatontown and Oceanport, to close on executed contracts for Russel Hall and the Fitness Center, and to accelerate closings on six other pending projects.
RPM Development Group (RPM) Vice President Brendan McBride spoke during the event about his company’s recent purchase of the Officer Housing parcel in Oceanport, the first redevelopment project underway at Fort Monmouth.
“We’re delighted to be taking part in this important milestone in the redevelopment of the Fort,” McBride said. “The Officer Housing has such unique character and history, which we look forward to bringing back to life as we start rehabilitating these distinctive neighborhoods.”
The excitement about redevelopment opportunities and efforts underway at Fort Monmouth was echoed in sentiments conveyed by additional speakers at today’s event:
“We recognized the Marina as a special place that, with work, could become a great neighborhood restaurant and bar for Oceanport and the neighboring towns,” Marina at Oceanport Co-Owner/Operator Deanna Queenan said. “The waterfront location already boasted beautiful scenery and sunset views. In the past year and a half, we have enjoyed becoming a part of the community while refining and growing our business.”
Since the Marina at Oceanport opened in 2015, patrons have been flocking to the waterfront restaurant and bar, which occupies the renovated marina building formerly operated by Fort Monmouth.
Parcel B Redevelopment, LLC, which is owned by Paramount Realty Services, Inc., is currently in exclusive negotiations with FMERA for an 89-acre site fronting Route 35 in Eatontown. Paramount Realty Services and LMS Commercial Real Estate Vice President Lee Zekaria spoke about plans to redevelop Parcel B into “Freedom Pointe,” a walkable lifestyle town center, including approximately 350,000 square feet of retail space and 302 residential units.
“Freedom Pointe will be a one of a kind, premier, mixed-use lifestyle destination that will bring an unparalleled outdoor experience to the Jersey Shore,” Zekaria said. “We want this to become a second home that people can go to and re-energize before and after work, and on weekends and holidays – to spend quality time with their families and enjoy a memorable experience. We are very honored to be a part of this unique project and to bring hundreds of new jobs to the area.”
TetherView, a private cloud solution for business, recently occupied Russel Hall at Fort Monmouth, located within the Oceanport section. TetherView has entered into a joint venture with the coworking organization vi Collaboration Hub to cultivate talent and community involvement.
“We’re seeing a trend of technologists and entrepreneurs rising up in Monmouth County, at Cowerks in Asbury Park and at Bell Works in Holmdel,” vi Collaboration Hub co-founder Chris Pallé said. “By creating an environment at Fort Monmouth that’s conducive to collaboration, the talent in those groups is multiplied. The more people come together, the more innovation and ideas we can create. It’s the future of work.”