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Somerset Buys Fort Monmouth Site for $15.3 Million

Company Plans Townhouses, Affordable Housing for Redevelopment
A rendering depicts part of Somerset Development's planned redevelopment at Fort Monmouth and the planned waterfront promenade. (Fort Monmouth Economic Revitalization Authority)
A rendering depicts part of Somerset Development's planned redevelopment at Fort Monmouth and the planned waterfront promenade. (Fort Monmouth Economic Revitalization Authority)
CoStar News
November 29, 2021 | 8:39 P.M.

Somerset Development has acquired a parcel at Fort Monmouth, a former military base in New Jersey, where it plans to invest up to $35 million to build 144 townhouses and 36 affordable housing units.

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