Another NJ bid for Fort Monmouth details non-Netflix studio plans
Several months after submitting plans for Forth Monmouth, the last of four bidders hoping to redevelop nearly 300 acres has gone on the record about their vision for the property.
Extell Acquisitions — an arm of New York-based real estate company, Extell Development — shared some of its mixed-use proposal for the first time, just as a grassroots campaign has gained momentum against arguably the best-known bid.
“No 2 Netflix” launched its public efforts this month against the streaming giant’s submitted bid to use the entire mega-parcel as Netflix's second largest production facility behind a New Mexico property, as previously reported.
Extell Vice President, Moshe Botnick said exclusively to New Jersey 101.5 that instead of being a “big corporate site” largely closed to the surrounding communities, their bid called for mixed use of the mega parcel, including two types of residential units — a single-family home community and “medium density” housing, such as townhomes and small apartment buildings.
All mixed-use, except Netflix?
Residential development would be allowed at the decommissioned Army base, under extensive guidelines issued by the Fort Monmouth Economic Revitalization Authority.
The original reuse plan for what is now the meg-parcel, as previously reported by Two River Times, allowed for up to 302 residential units in Eatontown and up to 234 residential units in Oceanport.
Aside from Netflix, all three remaining bidders have now confirmed a similar multi-use approach.
Mega Parcel Development previously shared plans online for a five-district site spanning nearly 300 acres — including two residential neighborhoods, one each in the Eatontown and Oceanport sections of the property.
RDR Partners reportedly has pitched three districts, according to the Asbury Park Press, with residential units, as well as space for tech and innovation companies and retail, plus movie and film production companies.
‘No feedback yet’
According to Botnick, in the several months since bids were submitted, there’s been no feedback, yet — adding he doesn’t know what will drive the decision-making process.
Under Extell’s plan, part of the Fort Monmouth property would be available for corporate use such as film or tv studios, as that has become a popular idea, Botnick said. There would also be space for medical offices and for retail and other entertainment venues, he added — giving TopGolf as an example.
Green space, beyond the preservation of Greeley Field, was also part of Extell’s bid along with a waterfront resort area, which could be used for corporate retreat functions — not unlike Ocean Place in Long Branch, he continued.
NJ track record
Of the submitted bids for the mega parcel, three out of four bidders have already impacted the state through existing real estate projects.
The Lofts Pier Village, completed last year in Long Branch, was Extell's first New Jersey development project, according to the company’s website.
Another of Extell’s projects in New Jersey is Barnegat 67 — a four-story mixed-use complex with 150 residential units n “historic Barnegat,” near the Parkway.
Among the partners behind Mega Parcel Development, Saadia Group has redeveloped over 22 million square feet of combined commercial or industrial space, involving 25 properties in New Jersey, New York and Pennsylvania, according to the team’s website.
RDR Partners is made up of Russo Development, Dinallo Development and River Development Equities. Russo Development, alone, has built a number of “Vermella” residential communities across the state.
Amid a lack of public details on Netflix's specific proposal being considered — the company's biggest residential tie-in could be a growing number of signs anticipated on front lawns.
As of Wednesday, 49 people had requested “NO2Netflix” signs so far, according to the grassroots protest group’s social media accounts.