FORT MONMOUTH — The board charged with overseeing the redevelopment of Fort Monmouth has entered into exclusive negotiations with a potential buyer of the marina located in the Oceanport section of the former U.S. Army base.
The Fort Monmouth Economic Revitalization Authority (FMERA) entered into negotiations for a purchase agreement with AP Development Partners for the marina during the Aug. 20 board meeting.
Oceanport Mayor Michael Mahon said in an Aug. 27 interview that the group, which has managed the marina since the beginning of the summer, has plans to expand the site to maximize its potential.
“Their overall plans include a much larger restaurant building, and that is something that they seem to have the wherewithal to make happen, and that is consistent with the reuse plans,” he said.
Located at Oceanport and Riverside avenues, the 3.9-acre property includes a 71-slip marina, a boat launch ramp on the Oceanport Creek, a 2,600-square-foot boathouse, two administrative buildings and off-street parking.
According to the resolution passed by the FMERA board, the developer’s plans include renovating and expanding the boathouse as well as constructing a 5,100-square-foot restaurant and banquet facility.
The developers are expected to commit to a $2.6 million investment to renovate the property.
According to Mahon, the developers also hold a liquor license for the site.
He said the relationship between AP and the borough has been a positive one.
“As managers, they’ve moved quickly, made their required improvements and moved forward with permitting and so on,” Mahon said. “They proved that they could actually bring the project to completion.”
He said the marina has been well-received by neighbors.
“The neighborhood and the local Oceanport folks seem to appreciate them being there, and some boaters have signed up and the boats are in the water,” Mahon said. “It’s working out quite well, and they seem to be attracting some attention.”
During the FMERA meeting, Oceanport Councilwoman Ellynn Kahle said the marina has been popular among residents.
“They’ve done a lot of work over there, they’ve taken people on tours and they’ve had a comment period, so they know what the residents want over there,” she said.