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Fort Monmouth Authority Greenlights $130M Live-Work-Play Development By West Gate

EATONTOWN, NJ—If the agreement survives a 10-day veto period by NJ Gov. Chris Christie, the estimated $130-million project will also include approximately 40,000 square feet of office space and a total of 302 residential units, 20% of which will be affordable to low- and moderate-income households.

By Steve Lubetkin | stevelubetkin | Updated on March 02, 2017

Rendering of proposed Freedom Pointe mixed use development near West Gate of former Ft. Monmouth in Eatontown, NJ Rendering of proposed Freedom Pointe mixed use development near West Gate of former Ft. Monmouth in Eatontown, NJ

EATONTOWN, NJ—The Fort Monmouth Economic Redevelopment Authority has given the green light to a transaction that, if approved by the state’s governor, would be the first step in redeveloping an 89-acre section of the former military base along its West Gate in Eatontown, NJ, into a $130-million live-work-play mixed use complex.

The “Purchase and Sale & Redevelopment Agreement” approved Mar. 1 for Fort Monmouth Parcel B Redevelopment, an affiliate of Paramount Realty Services, is subject to a 10-day veto period by New Jersey Gov. Chris Christie.

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