Fort Monmouth Barker Circle to become 75 apartments, restaurant
OCEANPORT – A local developer has closed the historic Barker Circle property in Fort Monmouth for $ 4.85 million and will create a mixed-use site in the former army barracks that includes flat-style rental units, a restaurant , offices and spaces linked to art.
Asbury Park-based Barker Circle Partnership LLC, which signed a contract to buy the 20-acre property two years ago, made the deal on Tuesday, the Fort Monmouth Economic Revitalization Authority said.
The group will invest around $ 22 million to reuse the historic property located at the Oceanport entrance to the fort.
While the Barker Circle redevelopment will generate tax revenue, jobs and new housing for Oceanport, FMERA Executive Director Bruce Steadman said “it will also activate one of the premium sites that once served as the destination. for visitors and those stationed at Fort Monmouth ”.
Light, camera, action: Netflix confirms bidding on Fort Monmouth’s ‘Mega Parcel’ for studio lot
Barker Circle currently has five barracks buildings, the fire station and Kaplan Hall, which was built in 1933 and was once the theater of the station with 574 seats. It was last used as a museum of communications and electronics. The buildings total 200,000 square feet of space.
The site is in the Historic District of the Fort Monmouth National Register and all seven buildings will be adaptively reused and are subject to New Jersey state historic preservation clauses, FMERA said.
The group’s plan provides for 75 residential units in four of the fire station buildings, an office building and restaurant, and arts-related uses in the fire station and Kaplan Hall. The development is expected to create 70 temporary construction jobs and 40 permanent jobs when completed.
The development group partners have already made a significant investment in the fort with The Loft project, where they are transforming the fort’s former dance hall into an event space with a small micro-brewery.
The property is located at the main entrance on the easternmost side of the fort and close to other completed projects such as the marina, the Fort Athletic Club, the former headquarters of the Russel Hall Garrison, which is now used by IT companies, and the recently refurbished former officer building housing the East Gate and Liberty Walk.
When Dan Radel, from Jersey Shore, doesn’t report the news, you can find him in a classroom where he is a history teacher. Join him @danielradelapp; 732-643-4072; [email protected]