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FINAL DRAFT: The contract was facilitated by the Fort Monmouth Economic Revitalization Authority (FMERA). The property was purchased for 55 million dollars, with a projected investment of 850 million dollars into construction. It is estimated to generate an estimated 1500 permanent jobs for the area. he contract comes after years of difficulty repurposing the property. In 2021, an early project proposal was to develop an arts community and cultural center within the fort. Delays in construction and infrastructure, as well as the COVID-19 pandemic, caused the project to be terminated. Other projects include the revitalization of a bowling alley located within the fort. In 2022, the Borough Council of Eatontown approved a proposal to develop 275 housing units in place of the fort's former housing, 55 of which would be affordable housing units. FMERA also proposed further commercial development constituting a gas station, grocery store, and restaurant adjacent to said housing.

On December 21, 2022, Governor Phil Murphy described the Netflix's purchase of the Mega Parcel as a "transformative investment” for New Jersey . Eatontown's mayor Anthony Talerico commented on the potential economic growth the project will bring to the surrounding area. Oceanport's mayor Jay Coffey praised the project and cited "social revitalization" that Netflix would bring to Fort Monmouth. Public opinion from Oceanport and Eatontown residents was largely positive . It is projected that this production campus will accrue an estimated maximum of 4.6 billion dollars in revenue over the next 20 years.

The proposed redevelopment project will be located adjacent to major public transportation outlets such as NJ Transit lines, the Garden State Parkway, and New Jersey State Rt. 35. The current estimations for the size of the campus are between 180,000 and 480,000 square feet. The development will contain 12 sound stages, various production buildings, and office buildings. Governor Phil Murphy wrote Netflix a letter to petition them to purchase land in New Jersey over the original property in Georgia due to Georgia’s controversial changes in voter laws.

Fort Monmouth will also be the site of redevelopment by RWJ Barnabas Health in New Jersey. In December of 2022, a deal was finalized for the purchase of the former Myer Center for $8 million. RWJ Barnabas Health plans to replace the building with an extension of their medical campus. The new construction plans entail an ambulatory care pavilion as well as a cancer center.