Public Comments Open Up for Netflix's 328-acre Complex in Monmouth

Netflix is edging closer to establishing a presence at the Jersey Shore, as the public comment period for the redevelopment of around 328 acres of Fort Monmouth property kicks off, spanning 45 days.

The Vision Unveiled: A State-of-the-Art Studio Campus

On October 30, the Fort Monmouth Economic Revitalization Authority (FMERA) announced the approval of proposed Amendment #20. This amendment is intended to lay the groundwork for a "state-of-the-art Motion Picture, Television, and Broadcast Studio campus" in Eatontown, Oceanport, and Tinton Falls. The grand vision here is to create a dynamic live-work-leisure environment on the former military base.

Transition to Public Review: The Netflix Connection

The shift to the public review phase represents a significant stride in Fort Monmouth's Mega Parcel redevelopment, which is already under contract with Netflix Inc. Plan Amendment #20 introduces changes to the fort area and assesses the impact on residential areas in Eatontown and Oceanport while preserving the initial development scenario. The amendment extends beyond residential uses within the Mega Parcel to encompass similar uses elsewhere on the campus.

Affordable Housing Inclusion and Future Plans

Plan Amendment #20 ensures the provision of affordable housing as required by the New Jersey Fair Housing Act. FMERA emphasizes the construction of such units for low- and moderate-income households, either within the project or as part of a broader residential development. Alternative locations and requirements for residential units are also identified, anticipating the Mega Parcel's development as a commercial project.

Netflix's Ambitious Investment

In December 2022, Netflix secured the winning bid for Fort Monmouth's "Mega Parcel" by committing $55 million for the land and planning an additional $850 million in capital investments. This will lead to the creation of almost 500,000 square feet of new development, promising to generate over 1,500 permanent production jobs and more than 3,500 construction-related jobs.

After the 45-day comment period, FMERA will review and respond to all input before proposing the Plan Amendment for final adoption. If approved, Netflix will enter a 36-month Approval Period, involving extensive reviews across local, county, and state agencies and authorities, expected to commence in the first quarter of 2024.

Fort Monmouth's Reuse and Redevelopment Plan, established in 2008, aims to transform the fort into a thriving environment, creating jobs and stimulating economic growth across the host municipalities and the region. Additionally, in December 2022, 36 acres were sold to RWJBarnabas Health's Monmouth Medical Center, with plans for a cancer center and ambulatory care pavilion. Denholtz Properties is also making progress at The Commissary on the property, showcasing the continued transformation of Fort Monmouth.

This ambitious project is a significant step toward revitalizing Fort Monmouth and promises to bring economic growth and new opportunities to the region.