Following Closure, Community Starts on Reuse of Ft. Monmouth
- September 19, 2011
Following Thursday’s closure of Fort Monmouth, the work of the installation’s LRA began “in earnest,” Bruce Steadman, executive director of the Fort Monmouth Economic Revitalization Authority, told myCentalJersey.com.
Now the LRA will be able to show the 1,100-acre property to prospective tenants and buyers. The Army still owns the site, but the authority plans to obtain parcels as the need arises so it can sell or lease them. Early leases will help the authority establish a revenue stream, Steadman said. So far, the LRA has had more than 100 meetings with prospective tenants and developers, he said.
Even with the economy having a difficult time recovering from the recession, local officials’ chief priority remains replacing the thousands of jobs lost when Monmouth’s mission was transferred to Aberdeen Proving Ground, Md. The property’s reuse plan calls for a mix of residential, commercial and office space.