FMERA Board Approves Purchase Agreement for Artist Project in Eatontown
This month the Fort Monmouth Economic Revitalization Authority (FMERA) Board approved a Purchase and Sale Agreement & Redevelopment Agreement (PSARA) with Kenneth Schwartz for six World War II-era barracks buildings located on an approximately 4.4 acre parcel in the Eatontown area of the Fort.
The PSARA calls for the renovation of the existing buildings for commercial arts-related uses, including studio, performance and gallery spaces, as well as short-term residential units for artists. FMERA will seek an amendment to the Fort Monmouth Reuse and Redevelopment Plan, as the units were initially identified for demolition. The purchaser will also be responsible for maintaining the existing open space known as Soldiers Park, which is adjacent to the Avenue of Memories.
“The redevelopment of the former barracks buildings will help to create a cultural center for the area,” FMERA Director of Real Estate Dave Nuse said. “This is an important part of FMERA’s vision of a vibrant community where people can live, work, play and create.”
Schwartz is a local entrepreneur and businessman, and an active supporter of arts and cultural projects in the region. In September 2016, Schwartz opened Detour Gallery in Red Bank, an approximately 9,000 square foot former warehouse renovated to serve as an art gallery.
“I look forward to working with FMERA and Eatontown to bring artists together with the local community,” said Schwartz. “The Barracks will be an exciting place for both artists and visitors to enjoy.”
Note: FMERA Board action is subject to a ten (10) day veto period by the Governor.