Happy Spring!
The 2025 market is off to a strong start, and so far—even with some economic uncertainty—there are no signs of it slowing down.
I’m proud to share that I was the #1 agent in the Rumson office again in 2024—for the sixth year in a row. I’m so grateful for your continued support and referrals. Thank you for being such an important part of my success!
If you haven't driven through Fort Monmouth recently or followed the updates, you might be wondering what's been going on. While Netflix hasn't officially closed on the 292 acre property yet, work is already in motion. Crews have begun clearing 88 outdated buildings to make way for a state-of-the-art film and TV production campus.
The first phase - which included 4 soundstages, a massive mill building for construction of sets, and a warehouse - has been approved by both towns, with ground breaking expected in the fourth quarter of 2025. Netflix is also restoring two former Army buildings for production support, including space for makeup, wardrobe and script work.
Later this year, Netflix will present plans for an additional 8 soundstages. If all stays on track, the East Coast production hub - Netflix's second largest in the country - will be complete by 2028. This will be a legit studio - Think golf carts zipping around, iconic backlots, and the bustling energy of a Hollywood set!
The ripple effects are already being felt. The New Jersey Economic Development Authority recently launched a Film Works Grant Program in partnership with Brookdale Community College and Montclair State University to train a new generation of workers in film and digital media. Brookdale's New Jersey Film Academy will receive $1 million in funding, with scholarships available to make the program more accessible.
But it's not just Netflix. Fort Monmouth is evolving into a dynamic hub for entertainment, education, housing, hospitality and innovation. Historic Allison Hall is being transformed into a boutique hotel as part of the RiverWalk Center, which will also include restaurants, retail, fitness studios, food franchises, and a waterfront event space. Nearby, a new racket facility - Nicol New Jersey - is in the works. Office space is also being developed to attract tech and R&D companies helping bring jobs and economic growth back to the area. Monmouth Medical Center is building a 150,000 sq ft Specialty and Cancer Care Center in partnership with Rutgers Cancer Institute, expected to open in 2025. The former commissary - is home to Birdsmouth Brewery and Baseline Social (a multi-level indoor/outdoor sports bar) are already up and running.
It's a very exciting time to be in Monmouth County! Naturally, many people are wondering what this all means for local real estate. Once fully operational there will be an increased demand for both short term and permanent housing. With new jobs, national attention, and exciting development underway, I expect housing demand—and property values—in and around Fort Monmouth to continue to rise, assuming no major shifts in the broader economy.
If you’re curious how this could impact your home or investment strategy, I’m always happy to talk. Be sure to click the image below for a full market report.
Kelly
