By Laura D.C. Kolnoski
TINTON FALLS – A lack of specifics from two potential developers has sent redevelopment plans for a substantial commercial parcel on the former Fort Monmouth back to the drawing board.
The 31-acre site, located in the Tinton Falls section of the 1,126-acre former U.S. Army base, was known as The Charles Wood Area before being re-envisioned as the Tinton Falls Commercial Parcel, located at Pearl Harbor Avenue and Pinebrook Road.
The fort’s master reuse plan, being administered by the Fort Monmouth Economic Revitalization Authority (FMERA), defines the site’s future use as office and/or research and development or an alternative commercial use consistent with the “array of commercial and light industrial uses in a campus-like setting” planned for that section of the former fort. FMERA plans also included demolition of two of the site’s nine buildings for open space and continued use of the former pistol range and fire training area also located there. The minimum purchase price was set at $4.5 million.
At their Jan. 18 meeting, FMERA members voted to reissue the parcel’s request for offers to purchase with tighter guidelines. Officials said they expect the new RFOTP to be released next month.
The two proposals received late last year were reviewed internally by professional staff to determine compliance with state guidelines, as well as whether the plans would result in the “highest and best use” of the property. Names of bidding entities are not revealed until further along in the process, as per FMERA rules. Both proposals left a significant portion of the parcel as “unplanned, undefined open space leaving the majority of the property undeveloped for an undetermined timeframe” according to FMERA documents.
“The staff was not particularly happy with either proposal,” said Robert Lucky, FMERA interim chairman, adding, “The same people may rebid with more specificity.” In general, redevelopment proposals should “promote, develop, encourage and maintain employment, commerce, economic development and the public welfare.” Officials said they did not want to leave the large site susceptible to future development that doesn’t meet FMERA standards and could adversely affect the three towns the fort spans – Eatontown, Oceanport and Tinton Falls.
The revised RFOTP now requires clearly defined uses of any intended open space on the property, the inclusion of a roadway design concept and a price proposal that meets the $4.5 million minimum with no associated contingencies as the property is being sold in “as is condition.”
IN OTHER FORT NEWS
Expo Theater
Negotiations with the lead proposer for the fort’s 1968- era Expo Theater were nearing completion last week. Lucky said the facility will be a “recreation-based area.” Four proposals were received for the facility on 7.8 acres along Route 537 (Avenue of Memories) in Eatontown last August. The 995-seat live theater and cinema property includes the adjacent Dean Field.
“The RFOTP and the proposal both required use as a community theater,” said Bruce Steadman, FMERA executive director. “We’re waiting for more information from the proposer that reflects the percentage of programming as a center for community productions. That’s part of the negotiations.”
Parcel B, ‘The Front Door of the Fort’
Also nearing final negotiations is the long-awaited redevel-opment of Parcel B, the high-profile 77-acre parcel in Eatontown along Route 35 just inside the red brick Johnson Gates. Fort watchers may recall the fanfare generated by a plan and colorful renderings depicting a modern retail/entertainment/ residential complex proposed by Paramount Properties before that firm withdrew from the project some three years ago.
After Paramount backed out, the second-highest bidder began negotiating with FMERA. The developer, who will not be named until the contract is presented, proposes a mix of 250,000 square feet of retail and 302 housing units with 20 percent affordable housing. Lucky, who has expressed cautious optimism about the latest Parcel B plans throughout the negotiation process, said, “The staff has done a great job of securing an acceptable development.”
