FMERA Issues RFOTP for Squier Hall Complex, Makes Approximately 31 Acres Available for Redevelopment in Oceanport
The Fort Monmouth Economic Revitalization Authority (FMERA) made the Squier Hall Complex available for redevelopment through a Request for Offers to Purchase (RFOTP) issued this month. An approximately 31-acre parcel of land containing eight buildings, the property is included in the Oceanport High-Tech and Green Industry Campus Development District. This district provides an opportunity to leverage existing high-tech facilities for the needs of a skilled area work force, as described in the Fort Monmouth Reuse and Redevelopment Plan (Reuse Plan).
Located on Sherrill Avenue, Squier Hall, the most prominent building in the complex, served as the first permanent Signal Corps laboratory at Fort Monmouth. The two-story, 76,600-square-foot administration building was constructed in 1935 and is listed on the National Register of Historic Places. The surrounding parcel comprises approximately 11 of the 31 acres available for development.
The Fort Monmouth Reuse Plan calls for the renovation and reuse of Squier Hall and several of the adjacent buildings for an educational or office use. However, as noted in the RFOTP, FMERA will accept proposals for the demolition of any or all of the adjacent buildings, while Squier Hall itself must be retained and rehabilitated according to historic preservation standards.
Bruce Steadman, FMERA Executive Director, noted that demolition of some of the buildings on the Squier Hall property would require an amendment to the Reuse Plan, and that amendment would be subject to approval by the FMERA Board.
“Redevelopment opportunities made available through the Squier Hall Complex RFOTP, including educational and office space use, broaden the pool of potential purchasers of Fort Monmouth property,” Steadman said. “By restoring Squier Hall, we’ll also be taking another major step in our efforts to preserve the rich history of Fort Monmouth.”
The RFOTP indicated that potential purchasers may propose to acquire and redevelop two additional, optional properties. The first is a 3.5-acre property located across Sherrill Avenue, which includes an approximately 19,000-square-foot former administration building, known as Building 555, and associated parking. The building is also a candidate for demolition, as envisioned in the Reuse Plan.
The second optional property is an approximately 16-acre parcel located to the north and west of the Squier Hall Complex, envisioned in the Reuse Plan to remain as open space.
FMERA is set to acquire most of the properties via a negotiated Phase 2 Economic Development Conveyance (EDC) Agreement with the U.S. Army. At its April meeting, the FMERA Board authorized staff to enter into a Memorandum of Agreement with the U.S. Army for the Phase 2 EDC Property. FMERA is now working towards a closing date for the property.
A copy of the RFOTP can be found at https://www.fortmonmouthnj.com. Responses to the RFOTP will be independently scored, with an emphasis on permanent jobs to be created or relocated to the parcel.