Wrecking ball targets former Army base

About 500 buildings with around four million square feet are expected to be demolished on the decommissioned military base. (Photo credit: Laura Pedrick for The New York Times)

About 500 buildings with around four million square feet are expected to be demolished on the decommissioned military base. (Photo credit: Laura Pedrick for The New York Times)

FORT MONMOUTH, N.J. — When the Pentagon decided to close Fort Monmouth almost a decade ago, the community lamented the loss of more than 5,000 jobs and wondered what would happen to the sprawling Army base.

With 1,126 acres in parts of three boroughs, the base, at the northern end of the Jersey Shore, remained well positioned, relatively close to New York City — an hour away by commuter train — and to the Garden State Parkway, a highway that runs close to the base’s western boundary.

As real estate demand in central New Jersey grows more competitive, the site is generating increasing interest. The base’s prospects for reuse are brightened by the recovering property market, especially for retail and residential space, in Monmouth County, an affluent area where developable land is at a premium.

The Fort Monmouth Economic Revitalization Authority, a state agency that manages the sale of the property, says it has been receiving more inquiries from national developers recently than in recent years, multiple proposals for every offer and competitive bids for parcels.

Read the whole story in The New York Times


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