Somerset Development announced it has received planning board approval for a townhouse community at Fort Monmouth, turning a former Army barracks into 180 homes.
The real estate developer said it is converting a 15-acre parcel known as the “Lodging Area” on Signal Avenue near the fort’s Oceanport entrance into a mixed-use development, including 144 townhomes, 36 affordable housing units and 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,” Ken Gold, vice president of acquisitions and development, said in a prepared statement. “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.”
Two buildings within the community, Gardner Hall and Scriven Hall, are located within the Fort Monmouth Historic District and will be preserved and remodeled as the affordable housing component, Somerset Development noted.
The community will include a waterfront esplanade along Parker Creek and connect to the adjacent Allison Hall riverfront promenade, which is slated for commercial and retail development.
Somerset expects to break ground later this year.
