Posted on: 11-05-18
OCEANPORT – People are living at Fort Monmouth again.
East Gate, the first residential component to be built on the former army post, is welcoming its initial homeowners. The post closed in 2011 but is undergoing redevelopment with private and government funds.
The homes are refurbished historic red brick homes that once housed the fort’s ranking officers. The property was known as officer’s row and is located in the Fort Monmouth National Register Historic District in Oceanport’s fort reuse area.
RPM, which is based in Montclair, purchased officers’ row for $7.8 million in 2017. The developer is building a mix of 68 townhouses, duplexes and single-family homes.
The first homes went on the market this spring, as previously reported in the Asbury Park Press.The real estate group announced that closings are underway on the first refurbished, luxury townhomes and the first wave of residents have moved onto the fort. There are about 10 townhomes ready for occupancy.
Five homes were closed in October and five more are expected to close this month. The initial homes sold in the $400,000s.
The next homes will not be ready for occupancy until next year. The remaining homes are priced between $400,000 to $700,000.
“We don’t expect to release the next phase of homes until early 2019,” said Michael Hong, RPM’s assistant vice president of development.
The homes were built between 1929 and 1936 and were awarded to captains, majors, colonels and generals.
East Gate’s marquee property is the general’s residence which may command about a million dollars.
The former fort property is located in Eatontown, Oceanport and Tinton Falls.