Construction of Fort Monmouth's Howard Commons Not Likely to Begin Until 2015

By Christopher Sheldon

The buildings currently standing at the Howard Commons area of Fort Monmouth in Eatontown will likely remain until some time in 2015.

The Fort Monmouth Economic Revitalization Authority (FMERA) approved a 60-day extension to its exclusive negotiation period with the developer for the project, HovWest, during its board meeting earlier this week.

"FMERA staff and HovWest have made significant progress toward the negotiation of a mutually acceptable Purchase and Sale Agreement for Howard Commons and staff believes that there is a likelihood that further negotiation will result in agreement over business terms," a resolution passed by FMERA states.

This comes on the news that HovWest will also not demolish the existing buildings and begin construction for another 18-24 months after the purchase and sale agreement is reached.

FMERA Executive Director Bruce Steadman said he is not worried about the timeline.

"The 18-24 month period is regarded by the developers as how long it takes," Steadman said. "We also believe it can be shortened."

The developer has proposed to demolish the existing housing at Howard Commons and construct 275 two- and three-bedroom for-sale townhomes. Twenty percent of the homes will be reserved as affordable housing.

The plan will also include a retail development at the corner of Hope Road and Pinebrook Road and 20.4 acres of open space and public recreation amenities.