March 11, 2026
monmouth county
One of the largest development projects in New Jersey is moving forward at the former Fort Monmouth Army base in Oceanport and Eatontown. Netflix has officially completed its $55 million land purchase for a 292-acre parcel, clearing the way for a massive film and television production campus.
Construction is already underway following demolition approvals for older structures on the site. Many analysts expect Fort Monmouth's redevelopment to help position New Jersey as a major East Coast film production hub.
Large-scale entertainment projects like this typically drive significant changes in surrounding housing markets:
Why it matters: Fort Monmouth's transformation from shuttered military base to a thriving production campus represents a generational shift for this part of Monmouth County. For buyers and investors eyeing the area, the window to get ahead of this demand curve may be narrowing.
Another major long-term project is planned around the historic Monmouth Park Racetrack in Oceanport. Developers are working on a mixed-use community surrounding the racetrack designed to create a year-round destination district.
The project's first phase was expected to begin construction following planning approvals tied to the broader redevelopment strategy.
If completed as planned, this project could transform the racetrack area into a vibrant, year-round destination — increasing demand for nearby housing and investment properties in communities that have historically been seasonal or underutilized.
In Middletown Township, a court ruling recently cleared the way for a new residential development. A Monmouth County Superior Court judge ordered the township to settle with a developer and allow up to 136 townhomes to be built off West Nut Swamp Road.
The project originally proposed over 400 apartment units, but the revised settlement reduced density to townhouses — a format that tends to be far more palatable to suburban communities and buyers alike.
Azura at Holmdel, a planned senior living community, will redevelop the former Vonage property on Main Street. Senior housing developments continue to expand across Monmouth County, reflecting the region's aging population and the growing demand for lifestyle-focused retirement communities.
Projects like Azura also tend to free up existing single-family inventory as residents transition — a secondary supply benefit the broader market can absorb.
Despite these development initiatives, the Monmouth County housing market remains tight. New construction and redevelopment projects may help increase housing supply over time, but demand continues to outpace availability across the county.
These developments highlight several key trends shaping Monmouth County real estate heading into 2026 and beyond:
Monmouth County continues to attract significant capital and redevelopment activity, particularly around former military sites and established regional anchors. Projects like the Netflix studio campus at Fort Monmouth and the Monmouth Park redevelopment could reshape the local economy and increase housing demand in surrounding communities for years to come.
For buyers, investors, and developers, these projects signal that Monmouth County remains one of New Jersey's most dynamic real estate markets to watch. If you're weighing a move or an investment in this area, now is an excellent time to get a clearer picture of where the market is headed.
Questions about the Monmouth County market? Contact Prodigy Real Estate to speak with a local expert.
Prodigy Real Estate is an innovative real estate company offering high-end video production, home valuation services, purchasing, and home sales. Serving New York and New Jersey.