Key Parcel at Fort Monmouth Coming Available for Purchase
The Fort Monmouth Economic Revitalization Authority (FMERA) plans to release a key parcel through its public bidding process in the coming weeks. The approximately 80- acre site, also known as Parcel B, is located at Fort Monmouth’s Route 35 entrance in Eatontown. This gateway project is slated for a medium-density, mixed-use project with residential and commercial uses.
“The revised Request for Offers to Purchase (RFOTP) for this parcel was drafted with the Fort Monmouth Reuse and Redevelopment Plan’s (Reuse Plan’s) vision in mind,” said FMERA Executive Director Bruce Steadman. “However, as a result of the implications of recent market shifts, specifically in retail, we expect to be more flexible on the mix of commercial uses permitted. All bidders will be required to construct 302 residential units as a part of the project.”
According to Steadman, FMERA still strives to redevelop this parcel as a transformative project with amenities that encourage activation of public space for activities like walking and gathering in public plazas and outdoor seating areas.
With the delivery of goods and services having changed dramatically over the past 10 years, FMERA is eager to re-envision the project in way that leverages new and unique approaches to mixed-use development and maximizes the economic impact to the surrounding communities. By targeting a broader mix of commercial uses and small-scale, complementary retail amenities, the project is poised for success as a hub for business and community engagement.
Redevelopment of the property will be subject to the Reuse Plan, which operates as the master plan for Fort Monmouth, and FMERA’s land use regulations and design and development guidelines (N.J.A.C. 19:31C-3.1 et seq., the “Land Use Rules”), which serve as the zoning overlay for the Fort.
FMERA intends to re-release the RFOTP for this this gateway site later this year.
“FMERA maintains that the highest and best use of the site is as a vibrant, pedestrian-friendly development with residential and a combination of commercial, cultural, entertainment and retail uses,” said FMERA Marketing & Development Manager Sarah Giberson.