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Proposals for the Mega Parcel RFOTP were due on June 6, 2022 at 12:00pm. All proposals were publicly opened in the FMERA offices beginning at 12:30pm, in accordance with Section 5.0 of the RFOTP. FMERA received FOUR (4) proposals from the following proposers, listed in alphabetical order:

1. Extell Acquisitions LLC

2. Mega Parcel Development LLC

3. Netflix, Inc.

4. RDR Partners, LLC (Russo Development, LLC; Dinallo Development, LLC; River Development

    Equities, LLC)

Please be advised that no additional information will be provided at this time. Pursuant to FMERA’s sales rules, N.J.A.C. 19:31C-2.19, offer documents are not public until the execution of the contract.  In keeping with FMERA’s standard evaluation process and its sales rules, FMERA’s Evaluation Committee will begin its review of all submitted proposals for compliance and proposals will subsequently be scored based on the evaluation criteria outlined in Section 8.0 and ATTACHMENT #3 of the RFOTP. FMERA will make no representations relative to the highest scoring proposal until such time as the staff is prepared to recommend the approval of a Purchase and Sale Agreement and Redevelopment Agreement to the FMERA Board. Please be advised that this process may take several months.

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Based on the current health emergency, FMERA has established a contingency plan for the FMERA Board Meeting scheduled for Wednesday, March 18, 2020 at 7:00p.m. To protect any meeting attendees, as well as FMERA staff and the Board, below is a Dial-In number for access to the Board Meeting. If you wish to participate in the FMERA Board meeting, please use this call-in procedure:

Dial In: 888-431-3598
Access Code: 1123026

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Public notice of the July 17, 2019 Board Meeting will be provided and a copy of the agenda will be posted 48 hours prior to the meeting on the Fort Monmouth Economic Revitalization Authority website.

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This May, the Fort Monmouth Economic Revitalization Authority (FMERA) approved an agreement for sale and land-lease of a 2.8-acre parcel in Eatontown, including the Fort Monmouth Bowling Center, a 17,599-square-foot structure, and Building 682, a 4,270-square-foot wood-frame building built in 1941. The selected developer, Parker Creek Partners (PCP), proposed large-scale renovation and expansion of the original Bowling Center — adding approximately 10,000 square feet to the original building. Building 682 is slated for demolition.

The Bowling Center is situated near the Artist Live/Work Barracks and the future town center for Eatontown (Parcel B) along Avenue of Memories, making the Bowling Center another exciting addition to the growing list of amenities within Fort Monmouth. PCP plans to renovate the outdated Bowling Center and develop a unique entertainment experience by refurbishing the existing bowling lanes; adding additional indoor and outdoor recreational activities such as bocce, pool, and shuffleboard; constructing a bar and eatery; and creating other multi-purpose event spaces. The developer intends to invest approximately $5.2 million in the Bowling Center, resulting in the creation of 22 permanent jobs.

PCP is eager to begin renovations, with the goal of opening the new facility’s doors sometime in 2020.

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Nearly all the planned residential units are spoken for at Fort Monmouth, with less than 250 units remaining for development as the Fort nears its residential development requirement of 1,585 units, per the Fort Monmouth Reuse and Redevelopment Plan (Reuse Plan).

The adoption of Plan Amendment #14 marks another milestone for the Fort Monmouth Economic Revitalization Authority (FMERA) and the Borough of Oceanport, cementing the development of up to 180 residential units, including 144 luxury, waterfront townhomes in the Lodging Area Parcel by renowned Bell Works developer, Somerset Development.

The Reuse Plan envisions the redevelopment of the Oceanport Reuse Area for approximately 1.75 million-square-feet of non-residential space and 720 residential units. The development would include a high-tech/green-industry cluster, education/medical campus, a neighborhood center, a boutique hotel and spa, and expansive green space including the historic Parade Ground. Thus far, FMERA is advertising, in negotiations, under contract, or has sold property in the Borough of Oceanport for a technology and innovation campus; a satellite university campus; neighborhood retail; dining and entertainment space; a brewery; commercial office; a boutique hotel; and approximately 486 residential units.

With respect to the Lodging Area Parcel, the Reuse Plan envisioned that the parcel be redeveloped for lodging and/or conference center use with a boutique hotel and spa along Parkers Creek. It also contemplated that Buildings 271 and 360 would be reused for mixed-income apartments, and Building 270 would be reused for permanent supportive housing.

While the Reuse Plan identified the Lodging Area Parcel as the site of the boutique hotel, Reuse Plan Amendment #11 determined that the Allison Hall parcel would provide better access and would be more ideally suited to accommodate a boutique hotel given its proximity to Oceanport Avenue. Therefore, Plan Amendment #11 transferred the residential units proposed on the Allison Hall parcel to the Lodging parcel and permits the boutique hotel on the Allison Hall parcel.

Plan Amendment #14 contemplates the reuse of Buildings 270 and 271 for the affordable housing component of the residential site plan and up to 144 new construction, market-rate units. A total of 180 units are planned, twenty percent of which must be affordable.

Somerset Development is noted for its “collaborative and flexible approach to planning and design, and its emphasis on creating high-quality, attractive, and livable communities.” The redeveloper says its designs are based on the principles of smart growth, traditional neighborhood design, and interactive community living.

“Somerset Development has an impressive track-record and an incredible eye for design,” said FMERA Deputy Executive Director Dave Nuse. “Somerset’s plan for a walkable, riverfront neighborhood is an ideal fit with our vision for a vibrant, pedestrian-friendly community and complements the flourishing developments nearby.”

The proposal calls for townhouse dwellings with ground floor two-car garages and two levels of living space above. Somerset Development noted that the focus of the neighborhood will be the waterfront promenade and expansive open space on Parker’s Creek. The buildings were designed to have front facades that complement the design aspects of Gardner Hall (Building 271) and Scriven Halls (Building 270), as well as the historic, North Post Officer Housing (now known as East Gate) adjacent to the site.

Somerset Development considers its design a Traditional Neighborhood Design that exhibits well-crafted, pedestrian streets and spaces with buildings that front onto them. Parking and services will be in the rear of the buildings, allowing the townhouses’ front pedestrian walkways to provide a beautiful space for residents to walk, talk, and relax. The neighborhood design incorporates aspects that allow it to take advantage of the opportunities at the waterfront, as well as the expansive open space, which is intended to provide passive recreational amenities and increase Fort-wide connectivity.

Somerset Development plans to invest $25-$30 million dollars in the project, and it is estimated that the residential redevelopment of the Lodging Area Parcel will produce a ratable for Oceanport with an assessed value of approximately $100 million, which would yield a net tax revenue share for Oceanport of $10 million over the next ten years.

“Somerset Development has a proven record of taking on and completing high-end redevelopment projects,” said Oceanport Mayor Jay Coffey. “When fully built out, the Lodging Area is projected to generate close to two million dollars in annual gross real estate tax revenue. While the Lodging Area is a residential development, Somerset’s substantial financial investment in Oceanport will serve as a clarion call to commercial developers that the Fort Monmouth section of Oceanport is worthy of investment and development. I also believe that Somerset’s upscale residential development will augment both the appeal and value of the existing residential units at East Gate, the old Officer’s Quarters, and will foster a cohesive, residential neighborhood from the northern waterfront all the way to the historic marching grounds.”

Somerset’s project will be the second residential development to come online in Oceanport, adding new residents and outdoor amenities to the developing neighborhood on the north-eastern side of the Fort.

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Numerous projects are underway in the Oceanport section of the Fort’s Main Post, including:

• The Fitness Center, purchased by FM Partners and planned for reuse as a fitness and health club;
• The Dance Hall, purchased by Regional Development Group and planned as a microbrewery and event space;
• The Lodging Area, under contract with Somerset Development for a walkable, luxury townhome community of up to 185 units;
• The Allison Hall parcel, under contract with Tetherview for the development of office, retail, and other neighborhood amenities;
• Squier Hall, under contract with KKF University Enterprises, LLC for use as a satellite New Jersey City University campus featuring academic buildings and other university support facilities;
• Barker Circle, in negotiations for the reuse and redevelopment of historic barracks for residential and office uses, in addition to other dining and entertainment uses in the former firehouse and museum buildings;
• The Commissary, for commercial reuse and redevelopment as a craft production and retail space; and
• The Post Office area and the Warehouse District, collectively, for development as an office, research and development, and flex space complex, among others.

FMERA is also planning to make two of its most desirable, remaining properties available through the RFOTP process in the first half of the year—the McAfee Center and the 400 Area. The McAfee Center is envisioned for reuse as the anchor of a larger technology campus and the 400 Area is planned for a mixed-used, transit-oriented development that could serve as Oceanport’s neighborhood town center. Overall, FMERA’s obligation is to oversee the installation and sale of 720 new homes in Oceanport, twenty percent of which would be affordable.

East Gate at Oceanport (photo credit: eastgateoceanport.com)

The former Dance Hall will be renovated as a microbrewery & event space.

Historic Squier Hall is planned for reuse as a satellite university campus.

Oceanport’s February 7 Council meeting included a lengthy discussion about the Plan Amendment for the Squier Hall parcel, and references to other FMERA projects in the Oceanport section of the Fort, including the Lodging Parcel. FMERA is pleased to see residents in Oceanport engaged in the discussion and welcomes any constructive comments.

Redevelopment of the Fort provides for significant long-term improvements for the Borough, most notably tax revenue. FMERA estimates $300 million in investment during the next 10 years in the Oceanport section of the Fort, including the Squier Hall, Lodging, McAfee, and 400-Area projects, which could translate to $12 million in net tax revenue for the Borough and as much as $20 million for Oceanport schools, for a total of $32 million.

“A windfall 10-year tax proceed stream of $32 million for Oceanport would be a game-changer and would fund any increases in Borough costs for streets, the police department, and school-aged children,” said FMERA Executive Director Bruce Steadman. “In the last three years, we have seen significant interest in the Fort property, and that interest is resulting in some outstanding redevelopment potential, with high-investment totals that yield high assessment values, pulling all real estate values upward. This is an exciting and important time to be in Oceanport. Accordingly, FMERA will continue to provide the Borough with the Cowan Park building for Oceanport’s Police Department as long as it is needed.”

Additional activity progresses Fort-wide, as FMERA continues negotiations for a variety of parcels including the Bowling Center, planned for reuse as a bowling and entertainment destination and Parcel B, planned for a mixed-use town center featuring retail, residential, and community amenities in Eatontown.

In Tinton Falls, FMERA continues to work in partnership with the New Jersey Economic Development Authority on a planned Robert Wood Johnson Barnabas Health campus, and intends to release two new RFOTPs, the Pulse Power building and Building 2719, for commercial redevelopment.

“Our stated mission is to facilitate the creation of jobs,” said FMERA Deputy Executive Director and Director of Real Estate Dave Nuse. “However, a more measurable and lasting by-product of the Fort’s redevelopment is the tremendous impact that the incremental tax revenue for each Borough will have. There will be millions of dollars to pay for needed services, and to fund necessary amenities, accruing to each town.”

For more information, please visit the FMERA website at www.fortmonmouthnj.com.

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