EATONTOWN, NJ – At its August meeting, the Board of the Fort Monmouth Economic Revitalization Authority (FMERA) took steps to convert an existing structure into a facility that would bring new jobs, significant private investment and medical services to the region. The Board approved the transmittal of Plan Amendment #2 to the three host communities of Eatontown, Oceanport and Tinton Falls to allow for input on the conversion of the facility.
Specifically, the Amendment to the Fort Monmouth Reuse and Revitalization Plan (Reuse Plan) would maintain the land use concepts and plans in the Oceanport Reuse Area, while permitting an alternative development scenario. That would result in the reuse of the former Paterson Army Health Clinic, which was to be demolished per the Reuse Plan. The 80,000-square-foot wellness campus envisioned in the Reuse Plan would be incorporated into the reused Clinic, and the total number of residential units slated for the area would be maintained. Of those 720 units, 85 would be redistributed from the 16-acre Clinic parcel to adjacent areas within the Oceanport Reuse Area.
“This Amendment will allow us to pursue our central goals of job creation, reinvestment, enhancing the public welfare and providing new housing opportunities, while preserving the objectives and principles of the original Reuse Plan, “said FMERA Executive Director Bruce Steadman. “Early sales and leases are critical to our ability to reinvest sale proceeds to support economic development for the region and Amendment #2 will provide the flexibility we need to more effectively attract potential medical clinic and office users to the Oceanport Reuse Area.”
In August 2011, FMERA issued a Request for Proposals for the early lease of the Clinic, with an obligation to purchase, and received one qualified proposal from AcuteCare. Per its proposal, AcuteCare would reuse the 118,000-square-foot Clinic as a medical facility, creating 200 new jobs and investing approximately $15 million to renovate the building. Renovation of the facility by AcuteCare will also avoid the need to demolish the existing structure at an estimated cost of $1 million. The FMERA Board authorized staff to pursue negotiations with AcuteCare at its February 2012 meeting, and subject to the final approval of Amendment #2, FMERA expects to bring a Purchase and Sale Agreement to the Board for consideration this fall.Read more...