New Jersey City University (NJCU) is planning to open a satellite campus on the grounds of Fort Monmouth, a former U.S. Army installation.
The Asbury Park Press reports that the Fort Monmouth Economic Redevelopment Authority (FMERA), the state agency in charge of the Fort Monmouth property, and developer KKF University Enterprises have reached an agreement for a "state-of-the-art, satellite campus in the heart of Fort Monmouth’s main post."
NJCU President Sue Henderson indicated this summer that a Fort Monmouth campus would be for juniors and seniors who completed two years at Brookdale Community College.
The fort campus would have 15 classrooms including nursing labs.
According to the purchase and sale agreement, KKF will buy Squier Hall for $2.5 million and invest a minimum of $10 million to renovate the 1935-era administrative building.
KKF would then lease Squier Hall to NJCU, which will use the site for its undergraduate programming.
Squier Hall is on 28 acres in the Oceanport Reuse area of the former U.S. Army fort, which was closed in 2011 and is being redevelopment as a hub for technology companies. Parts of the fort are in Eatontown, Oceanport and Tinton Falls.
KKF will demolish six other buildings on the Squier Hall property. In the future, the developer may build a residence hall and additional academic buildings on the property to accommodate a student body of up to 800 students, according to the FMERA.
NJCU would be the second educational institution to open at the fort. Trinity Hall, a private girls' college preparatory school, is situated in the Tinton Falls Reuse area.