A plan by Fort Monmouth Business Center LLC calls for a mix of office, retail and hospitality space and a potential boutique hotel as part of what would be known as Riverwalk Center, a project at the historic Allison Hall Complex on Fort Monmouth. — Courtesy: Fort Monmouth Economic Revitalization Authority
By Joshua Burd
A group with ties to a local technology firm has acquired 12 acres at Fort Monmouth, with plans to create a mixed-use business center with office, retail and hospitality space.
State officials say the buyer, Fort Monmouth Business Center LLC, expects to invest some $25 million to repurpose what is currently a six-building complex in Oceanport. Such a project would include renovating Allison Hall, a 36,665-square-foot administration building that’s listed on the National Register of Historic Places, to provide new office, retail and commercial space on Signal Avenue alongside several other components.
The Fort Monmouth Economic Revitalization Authority said it completed the sale of the Allison Hall Complex on May 20. The buyer is an assignee of TetherView Property Management and an affiliate of TetherView, a private cloud services provider, which is based at Fort Monmouth after founder Michael Abboud acquired the historic Russel Hall property in 2017 and renovated the 43,000-square-foot building, creating a new headquarters space for his company.
“With over 500 occupied homes on Fort Monmouth, we’re excited to see the development of a multiuse project that will provide our growing community access to shopping, services and even job opportunities,” FMERA Executive Director Kara Kopach said. “FMBC’s vision for the site highlights some beautiful elements of our historic district, while incorporating modern design elements that will be attractive to businesses looking to relocate to Fort Monmouth.”
Abboud is working alongside development partner Chris Ilvento to repurpose the Allison Hall Complex, according to FMERA. Plans for their Riverwalk Center project also include renovating Building 210’s ground floor as a waterfront restaurant and its second floor as office or retail space, along with constructing new business lofts for office and flex uses and a new retail center fronting on Oceanport Avenue.
Additionally, the developers are slated to repurpose Building 199 for commercial uses, FMERA said. They also have the option to demolish Building 199 for the construction of a boutique hotel.
“Chris and I are excited to lead the development of the new Riverwalk Center and contribute to the Fort Monmouth and Oceanport community,” Abboud said. “Our plan is to create a space for local business owners to serve the communities they live in. As residents and business owners in Oceanport, we are committed to building a vibrant local community.”
In a news release, FMERA said the plan will serve as a complement to the East Gate residences, formerly known as Officer’s Housing, by offering a mix of neighborhood amenities and a walkable shopping cluster.
“We are currently seeking hotel operators, restauranteurs and business owners to develop a lifestyle center where families come to relax, eat, exercise, work and play,” Ilvento said.
TetherView will also construct a 12-foot-wide promenade along Parkers Creek, linking the development to the west with Oceanport Avenue, in one of several planned multipurpose trails meant to bridge the businesses and amenities throughout the Main Post and promote connectivity within the greater Fort Monmouth community, FMERA said. Somerset Development and PulteGroup also will construct a portion of the waterfront walkway as part of their redevelopment of a former lodging area along Parkers Creek.