The 36-acre former Myer Center site in Tinton Falls is now owned by Monmouth Medical Center, an affiliate of RWJ Barnabas Health, according to an announcement from the Fort Monmouth Economic Revitalization Authority.
Terms of the deal announced Friday were not disclosed.
According to FMERA, the New Jersey Economic Development Authority, FMERA and RWJBH entered into a tri-party agreement, assigning FMERA as the designated redeveloper of the former Cold War-era facility that was acquired by the NJEDA in 2017. RWJBH and FMERA entered into a Redevelopment Agreement on Oct. 25, 2021, which was later assigned to MMC in 2022. The project is slated to be redeveloped in two phases.
“This state-of-the-art project will provide expanded access to exceptional care and offer important health education and wellness services for the entire community,” FMERA Executive Director Kara Kopach said. “MMC’s decision to offer world-class cancer care in Tinton Falls is game-changing. Not only will residents benefit from convenient access to critical services, health care providers and their support professionals will also reap the benefits of increased job opportunities in the region.”
MMC intends to develop a full-scale health care campus, with Phase 1 including an approximately 138,000-square-foot Cancer Center and Ambulatory Care Pavilion, offering oncology services, imaging, radiation, an ambulatory surgery center, parking and interphase grading and landscaping. Pending all necessary approvals, construction should begin in 2023.
The property, located at Corregidor Road and Pearl Harbor Avenue, will be the home of the Vogel Medical Campus at Tinton Falls. Construction of the state-of-the-art medical campus will begin in 2023 and was made possible by a historic $50 million gift to MMC from local philanthropists Sheldon and the late Anne Vogel.
“We are excited to take ownership of the property and begin the process of constructing a truly incredible facility. The Vogel Medical Campus will enable us to further our mission to deliver truly outstanding care to our community,” Eric Carney, president and CEO of MMC and Monmouth Medical Center Southern Campus said. “As an expansion of the MMC campuses in Long Branch and Lakewood, the Vogel Medical Campus is located within the communities we currently serve and will be designed to meet the unique needs of our diverse and growing community now and in the future.”
Phase 2 of the project presents optionality for the project at MMC’s discretion, contingent upon market demand and the needs of the surrounding community, and may include hospital services, clinical and support facilities and a medical office, along with walking trails and publicly accessible open space.
MMC will create over 300 jobs with the completion of Phase 1 and may create a total of 1,000 jobs following the completion of Phase 2. The minimum capital investment for the project is $153.5 million, but may exceed $650 million upon completion of both phases.
Conveniently located near the Garden State Parkway, the site was home to the 750,000-square-foot Myer Center and the Night Vision Lab. The Myer Center, former home of the Army’s Electronics Command, was also known as the Hexagon, because of its unique design that paid homage to the Pentagon.
The redevelopment of Fort Monmouth is a multiyear reinvestment and repurposing of a former military installation that served as the U.S. leader in satellite and telecom technology. The primary goal of the Fort Monmouth Reuse and Redevelopment Plan is to repurpose and return the fort to a vibrant environment, create jobs and catalyze economic growth in each of the three host municipalities (Tinton Falls, Eatontown, and Oceanport) and the region.
The Fort had 5 million square feet of building area, 70% of which is targeted for demolition. FMERA continues to make good progress on the fort’s redevelopment, with about 86% of the Fort’s 1,126 acres sold, under contract, in negotiations or entering the Request for Proposals process.
To date, FMERA has sold 34 parcels, and another four parcels are under contract or have board-approved contracts.