TINTON FALLS: One of the largest buildings at Fort Monmouth and one of the few remaining undeveloped pieces of land in the borough, will be demolished in a few months.
The Fort Monmouth Economic Revitalization Authority (FMERA) entered into a purchase and sale agreement with the New Jersey Economic Development Authority (EDA) with respect to Parcel F-1 which contains the Myer Center and three other buildings on a 36-acre piece of property. The Myer Center is a 673,000-square-foot Cold War-era research center and is the largest of the buildings on the property. The parcel is located at Pearl Harbor Avenue and Corregidor Road in the Tinton Falls section of the former fort and can be seen from the Garden State Parkway.
After receiving little to no interest from developers for the property, FMERA made the decision to have the building demolished to make it more attractive to potential bidders in the future. FMERA received no offers to the request for offers to purchase (RFOTP) it issued for the property in December, 2014.
The purchase and sale agreement states that the EDA will fund and manage asbestos and lead-based paint abatement and demolition of the 750,000 square feet of buildings on the property in return for title to the parcel.
The EDA solicited bids for the demolition of the buildings and entered into an agreement with Tricon Enterprises on Sept. 14, 2017 to do the work.
Demolition will begin on March 27 and site restoration, which includes grading and lawn stabilization, is scheduled to be completed no later than Feb. 12, 2019.
"Fencing will be installed by Tricon around the perimeter of the project site to prevent the public from entering the project site and work zone," according to a notice on the FMERA web site. "Tricon will post adequate warning signs denoting the potential danger of airborne asbestos on the perimeter fence, on the fence at the designated entrances to the site, and at designated entrances to work areas within the site in accordance with the contract documents, and will prevent access to posted areas and work areas by unauthorized or inadequately protected persons."
Following the demolition and site cleanup, FMERA will execute a mortgage on the property in the amount of the EDA's $7.3 million budget, and EDA will release the mortgage proportionately upon sale to each redeveloper.
The Fort Monmouth Reuse Plan calls for the 38-acre space to be redeveloped for a commercial use such as sports, entertainment or hospitality. No residential or retail-based development is allowed at the site.