By Laura D.C. Kolnoski
FORT MONMOUTH – The next major residential development on Fort Monmouth, totaling up to 180 dwellings, is moving forward following a unanimous vote by members of the Fort Monmouth Economic Revitalization Authority (FMERA) May 23.
The vote approved amendments to the redevelopment plan of what is known as the Lodging Area along Parker Creek in Oceanport, where Somerset Development LLC plans to build 144 market rate townhomes and 36 affordable housing units on 15 acres.
Prior to the vote, the proposed amendments were reviewed by Oceanport officials including the borough engineer and members of the environmental commission, the planning board, the police department and emergency services. Highlights of the revised redevelopment scenario include:
• A change in density not to exceed 12 units per acre, down from 13 units per acre.
• Development of a 50-foot waterfront esplanade along Parker Creek with a 12-foot-wide walkway to coordinate with the adjacent Allison Hall riverfront promenade. The Allison Hall parcel will include hotel, office, and retail. The two parcels are intended to complement each other, according to FMERA documents.
• All townhouses will be rear-loaded with garages and driveways in the rear yards.
• Construction of roadways, alleys or drive-aisles connecting Signal Avenue to serve the townhomes.
• Two buildings on the site are on the National Register of Historic Places and therefore cannot be demolished. Somerset plans to rehabilitate both to accommodate the state’s 20 percent affordable housing mandate.
• A community clubhouse, pool, fitness center, athletic facilities and other recreational amenities will be permitted as accessory uses.
The property was first offered for sale by FMERA in December 2016 with bids received in March 2017. Somerset, formerly of Lakewood and now head-quartered in Holmdel, was the highest ranked proposer in compliance with FMERA’s overall reuse plan and will pay $17.5 million for the property.
Prior to voting in the affirmative, Oceanport Mayor Jay Coffey delivered a lengthy analysis and statement that began with him acknowledging, “This is a rather contentious item for Oceanport that will have a substantial impact.”
“It’s an unfair burden on Oceanport, but Oceanport lost the battle on zoning with FMERA 10 years ago,” he said. “We have a difference of opinion on whether this is good or bad for Oceanport. I have a different view of what’s going on at the fort than the majority of my council.” Coffey recently announced he is running for reelection on an independent ticket this year.
The 1,126-acre fort comprises portions of Eatontown, Oceanport and Tinton Falls. A total of 720 residential units is mandated within the 420-acre Oceanport section once the redevelopment of the former U.S. Army base is completed. Coffey said Oceanport will eventually absorb about 560 more residents.
In support of his vote, Coffey cited “close to $2 million” in tax revenue for the borough from all redevelopment projects within its borders. “There isn’t one instance where fort properties sold for less than the assessment,” he said. “The impact on the school system is minimal. There will be school-age kids coming in with the rental units, but we do have room to absorb children due to declining enrollment. Affordable housing is the lay of the land and we have to deal with it.” He said new residents in those units will include the families of nurses, firefighters, cops and teachers.
“The fort will be different than the rest of Oceanport, just like Monmouth Racetrack is different from the rest of Oceanport,” he said, adding that fort redevelopment in the borough will have four liquor licenses, a fitness center complex and more.
“This redevelopment is happening whether we like it or not,” Coffey said. “We shouldn’t be afraid of that but we shouldn’t be over-burdened either. The faster the fort is developed the better it is for Oceanport. This is a clarion call to other developers.”
The next step in the process is for Somerset to prepare plans for review by the Oceanport Planning Board, said Bruce Steadman, FMERA executive director.
“This is an exciting project for the fort’s redevelopment in fact, a once-in-a-generation type project,” Steadman said. “Real estate that has been off the grid for 100 years so to speak, will come roaring back, contributing millions in tax dollars via a new and beautiful neighborhood for Oceanport by a developer with a great track record proposing an outstanding housing community along the river.”
Somerset, owned by Ralph Zucker, bought and refurbished the former Bell Labs in Holmdel, now known as Bell Works. The firm estimates it will create approximately 231 temporary construction jobs and one permanent full- or part-time job by the project’s completion, or pay a penalty of $1,500 for each permanent job not created, as per FMERA rules.
