Posted on: 10-25-18
RPM Development is welcoming the first homeowners at the historic Fort Monmouth property, where it has rehabilitated a series of buildings that once served as housing for officers.
The builder announced this week that closings are underway at East Gate, a collection of 68 townhomes, duplexes and single-family residences on the 1,226-acre site. Fewer than 10 homes are now available from that group, which is located within the Oceanport section of the fort property, as RPM looks ahead to additional phases of the project.
“Tremendous velocity from the onset of our sales program has resulted in a near sell-out of our initial release of homes,” said Michael Hong, assistant vice president of development at RPM. “It also means we’ll have a significant wave of homeowners move-in within the first few weeks of closings. The surge in resident activity will provide new visitors an almost immediate look at the unique living environment at East Gate and its energetic neighborhood setting.”
The progress comes amid a long-running effort by state officials and the private sector to redevelop the former U.S. Army base, which was closed by the federal government in 2011. Other services and projects are on the way that will allow the site to become a mixed-use destination, including an expected bowling alley, microbrewery, walking trails and the soon-to-open Fort Athletic Club.
The remaining homes at East Gate are priced from the high $400,000s to the mid-$700,000s and include floorplans such as three-bedroom duplex homes. In crafting the project, RPM and Palermo Edwards Architecture have blended the original building exteriors, which date back to the early 20th century, with contemporary interiors that have high-end finishes and appliances.
“We don’t expect to release the next phase of homes until early 2019, making this the final opportunity to purchase a home with occupancy date in the first quarter of next year,” Hong said. “This has created a high level of urgency from buyers who wish to be residing in this special new community as soon as possible.”
RPM also cited the property’s location minutes from nearby beaches and the banks of the Shrewsbury River, along with its proximity to the entertainment, dining and culture of the fort and surrounding towns. The overall Fort Monmouth redevelopment effort will ultimately comprise new housing, office space, retail, entertainment and dining, plus recreational and social amenities spread across Oceanport, Eatontown and Tinton Falls.