Somerset Development, said March 9 that it received planning board approval to redevelop a 15-acre parcel of land on Signal Avenue near the Oceanport entrance to Fort Monmouth. Plans include 144 market-rate townhomes and 36 affordable housing units as well as a waterfront promenade.
“This moment represents an exciting next step as we move forward with plans to reinvigorate a place with both incredible history and unique character,” said Ken Gold, vice president of acquisitions and development at Somerset Development. “We consider our contribution to Fort Monmouth’s redevelopment to be a once-in-a-lifetime opportunity that can help transform it into a truly walkable, vibrant place to live and visit.”
Known as the Lodging Area, the 15-acre property formerly housed barracks for the U.S. Army and runs along Parker Creek in Oceanport. The new townhomes will feature design and architecture that complement Fort Monmouth’s natural landscape and reflect the community’s historic roots.
Each residence will feature high ceilings, rear-loaded two-car garages, driveways, and spacious interiors. Residents’ will also have access to a private back deck. Two buildings— Gardner Hall and Scriven Hall— are located within the Fort Monmouth Historic District listed on the National Register of Historic Places. Both buildings will be preserved and completely remodeled for use as affordable housing units.
The community will also include a 50-foot waterfront esplanade along Parker Creek and connect to the adjacent Allison Hall riverfront promenade via a boardwalk-style walkway.
Somerset plans to break ground on its Fort Monmouth project later this year.
The company has tapped renowned designer Marianne Cusato, member of the faculty at the University of Notre Dame School of Architecture and partner in charge of design and development at Cypress Community Development Corp. to articulate the vision of creating a sense of place through the design of the masterplan and townhomes.
The Fort Monmouth Economic Revitalization Authority is the state agency tasked with overseeing the redevelopment of the entire Fort Monmouth parcel, spanning a total of 1,127 acres.
