Developers See Boon in Sale of Army Land ; Housing, Retail Likely If Fort Monmouth Shuts

Summary

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EATONTOWN - It's a question those focused on saving the Fort Monmouth Army base would rather not even consider: If they close it, what will come?

Fort Monmouth's 1,100 acres in the heart of affluent Jersey Shore communities could eventually generate more economic activity than the base ever did, some developers say.

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Extract

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Developers See Boon in Sale of Army Land ; Housing, Retail Likely If Fort Monmouth Shuts

"When they put this thing out to bid, they are going to get whopping bids from developers," said David Lichtenstein, founder of The Lightstone Group in Lakewood, which owns residential and commercial property in 28 states. "There's no way they can't replicate the reve...

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