Plans for massive redevelopment of Ft. Monmouth in New Jersey likely to be revised
The redevelopment of Fort Monmouth, a former New Jersey army base, is likely to be revised on a building-by-building and parcel-by-parcel basis, officials say.
The original plan, unveiled in 2008, calls for $1 billion in construction and renovation of the 1,126-acre site, including a hotel, medical facility, office space, and 1,500 residences. It envisions more than 2 million sf of nonresidential buildings and about 800,000 sf of residential buildings, which would take about 20 years to build. The plan includes office, research and development, business services, light manufacturing, retail, residential housing, accommodations, and civic space.
“Because there was so much effort put in to the reuse plan from 2005 to 2008, it doesn’t make sense to make wholesale changes,” said Bruce Steadman, Fort Monmouth Economic Revitalization Authority executive director. “We’ll look at each situation, recognizing there will be certain economic and social factors that require changes.” The recent recession and damage from Superstorm Sandy have complicated the proposal.
