East Gate has sold 20 of its 68 homes since the collection of residences debuted in Monmouth County’s historic Fort Monmouth, developer RMP Development Group announced Wednesday.
RPM said it developed the Oceanport properties in century-old officer’s housing buildings on the 1,126-acre former U.S. Army post.
“An exceptionally high level of buyer interest has converted into many sales in a short period of time, validating our long held belief that Ft. Monmouth would fast become one of Monmouth County’s preferred new residential address,” Michael Hong, assistant vice president of development at RPM, said.
“The combination of luxury, one-of-a-kind homes, neighborhood soon to be ripe with a wealth of lifestyle amenities, and a storied Jersey Shore location has clearly resonated with a wide range of buyer types — from millennial first-time buyers and those moving up to larger homes to empty-nesters interested in scaling down from no-longer-needed single-family residences.”
East Gate is the first residential component to be introduced in the Fort Monmouth redevelopment, RPM said. The overall redevelopment effort will be comprised of new housing, office space, retail, entertainment and dining, and recreational and social amenities.
Each residence ranges from the high-$400,000 to the mid-$700,000. Initial occupancy is slated for early fall.
Palermo Edwards Architecture remodeled the buildings’ interiors to create new two- and three-story homes.
“There’s a wealth of leisure-time activities within the grounds of Fort Monmouth, including waterfront dining, picturesque nature trails and scenic common outdoor spaces,” Hong said. “The Fort Athletic Club, a state-of-the-art fitness and wellness facility, is expected to open this fall and future site plans call for other exciting new amenities and services such as a bowling center and microbrewery.”
East Gate is within close access to the New Jersey beaches and the Shrewsbury River, the New Jersey Transit Little Silver Train Station as well as major highways including Routes 35, 36, 18 and the Garden State Parkway.
