The LRA for the former Fort Monmouth last month approved the sale of 117 units of officer housing within the Fort Monmouth National Register Historic District in Oceanport, N.J., for $8.3 million, paving the way for the reuse effort’s first residential project.
The officer housing is located on two parcels of land totaling 36.5 acres, and includes residential units in single, duplex and four-plex configurations surrounding and adjacent to the post’s parade ground. The developer’s proposal calls for 68 market-rate, for sale units north of the parade ground and 48 rental units south of the parade ground, according to a press release from the Fort Monmouth Economic Revitalization Authority (FMERA). The South Post units would be a mix of market-rate and affordable housing rentals. RPM Development LLC plans to convert one of the single-family homes on the South Post into a community room for tenants.
“The range of sizes and types of units RPM is offering will fulfill the housing needs of many families and individuals, including renters and those looking to purchase. The renovation of these historic buildings, while preserving their historic status, adds to the development’s unique appeal,” said FMERA Executive Director Bruce Steadman.
The Army has not yet transferred the property to the authority and, as a result, the purchase agreement includes a clause shaving the sale price if the title isn’t transferred by December 1.
FMERA is converting the 1,127-acre property into a mixed-use development that will include three separate town centers connected by bike paths and walking trails, interspersed with retail, entertainment and recreation sites. Separately, the authority is soliciting developers to purchase four other parcels containing barracks, lodging, a hospital and the commissary, reported the Asbury Park Press.