FMERA Board Authorizes Entering Into Purchase Agreement for Parcels C & C1

At its September meeting, the Fort Monmouth Economic Revitalization Authority (FMERA) Board authorized staff to enter into a Purchase and Sale Agreement & Redevelopment Agreement (PSARA) with US Home Corporation, a wholly owned subsidiary of Lennar Corporation, a national homebuilding and real estate development company, for Fort Monmouth’s Parcels C & C1 in the Tinton Falls Reuse Area.

The project will consist of a total of 288 residential units, a mix of townhomes, stacked townhomes, and single-family detached homes, with 20 percent set aside for affordable housing. Lennar’s proposed plan also includes up to 58,000-square-feet of retail and other non-residential space and emphasizes connectivity to existing roads while encouraging pedestrian activity to link the neighborhoods. Parcel C features a community green to support civic activity, and both parcels will include tree-lined streets and sidewalks to create a vibrant “town center” environment.

“Totaling approximately 52 acres, Parcels C & C1 represent an opportunity for significant redevelopment in Tinton Falls,” FMERA Executive Director Bruce Steadman said. “Attracting Lennar Corporation to build residential housing and a town center on Fort Monmouth is a win for Tinton Falls and for the region.”