RPM Development Group has nearly completed its restoration of an officer housing complex at Fort Monmouth, preparing to deliver what will be the first residential project in the effort to reposition the historic military base.
Progress Capital Advisors has arranged $4.65 million in financing for a client’s 814,000-square-foot, mixed-use development about 35 miles outside New Jersey.
A tech firm based at the sprawling Fort Monmouth site is slated to grow its footprint after agreeing to purchase a former fire station on the property.
State officials have paved the way for the demolition of a 750,000-square-foot former research complex at Fort Monmouth, allowing them to market a larger 36-acre site on the property to prospective developers.
After four years of redevelopment efforts that focused on only half of the sprawling Fort Monmouth property, a state authority has acquired the remaining 560 acres from the U.S. Army, allowing it to move ahead with projects that are slated for the balance of the site.
