Welcome Visitor
Today is Wednesday, June 20, 2018

FMERA Finds Buyer For Eatontown Golf Course

EATONTOWN: Suneagles Golf Course will soon have a new owner as the Fort Monmouth Economic Revitalization Authority (FMERA) has reached a purchase and sale agreement with a developer.

Martelli Development, LLC will pay $5 million for the 171-acre property located along Tinton Avenue and will make several improvements on the site.

They will make capital upgrades to the golf course and restrict it to a golf course for 40 years. They will also renovate Gibbs Hall into a "first-class banquet facility," and demolish the existing Megill Housing units and construct 75 new housing units. The housing will be broken out as 60 luxury condominiums townhomes and 15 affordable rental apartments to satisfy the 20 percent affordable housing obligation.

The board also approved an amendment to the Fort Monmouth Reuse plan for the property which originally envisioned a conference center where the Megill Housing units currently stand. The amendment also allows more housing to be located on the site than originally envisioned.

This change came as a result of FMERA being unable to find developers willing to build a hotel conference center on the property. Eatontown officials and FMERA agreed that the property had to be marketed in a different way in order to find a developer willing to invest in the property.

Suneagles Golf Course is currently being operated by Linx Golf Management, which is responsible for making any necessary improvements to the 171-acre golf course, leasing new golf carts and operating Gibbs Hall and the 19th Hole Sports Bar on the property. Martelli will contract with Linx to improve and operate the course.

Read more from: Eatontown

Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: