Netflix spurs further redevelopment plans for Eatontown's downtown

EATONTOWN - The prospect of Netflix moving in has caused the borough's business and elected leaders to take another look at its antiquated downtown and expand a redevelopment zone it created three years ago in hopes of bringing in new investment.

The downtown is about a quarter-mile from the gates of the former Fort Monmouth and, where the streaming giant is planning to build its production studio campus, its largest on the East Coast. Netflix is currently in the early stages of drafting its final site plan for the 300-acre Mega Parcel, where it will construct 12 sound stages.

"We're seeing increased interest and excitement from business owners because their property could be located next to Netflix," said Mayor Anthony Talerico Jr.

Three years ago, before rumors of Netflix had even begun, the borough declared several lots in its downtown as an area in need of redevelopment. However, it asked its planner, Leon S. Avakian Inc., to revise its downtown study, which is did this winter, to include several more lots.

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Several of the properties belong to borough, including the municipal parking lot on Throckmorton, the library, municipal building and police department, plus several privately owned buildings that house small business that front Main Street, or Route 35.

The total redevelopment area includes the properties fronting on Main Street between Broad Street and Throckmorton Avenue on both the eastern and western side of Main Street, as well as parcels fronting along Lewis Street from Main Street to the intersection with Broad Street.

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According to the study, the lots are currently developed with mixed-use buildings consisting of retail, restaurants, personal service facilities and offices with residential units on the upper floors. The buildings within the study area consist of one-, two- and three-story buildings. The study area is 100% percent developed and maintains no environmentally sensitive features nor threatened and endangered species habitat.

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Several of the buildings pose safety hazards according to the study, which stem from age and pre-existing non-conforming code issues. Many of the buildings are over 100 years old, and no fire separation exists between structures. Many contain difficult access to unfinished "Yankee basements" often used for storage, and most do not contain adequate sprinkler systems.

The downtown has its beginnings as a village center. In the 1730s the intersection of Broad and Main streets was the location of a highway toll booth. Fees of one penny were collected for every dozen calves, sheep orhogs for every horse and rider. From there the center grew to include a tavern to serve the New York to Philadelphia stagecoach trade, and eventually small businesses, light industry and homes.

Talerico said the borough's next step is to create a redevelopment plan with public input. He said they're looking not just for residential uses but also for ways to boost the business sector.

The borough has stripped the eminent domain feature out of the designation, but has left in the potential for 30-year tax abatements known as PILOTS, or payments in lieu of taxes. Such payments allow developers to pay a fixed fee over a certain time, rather than be subject to property taxes which can vary each year.

When Jersey Shore native Dan Radel is not reporting the news, you can find him in a college classroom where he is a history professor. Reach him @danielradelapp; 732-643-4072; dradel@gannettnj.com.

This article originally appeared on Asbury Park Press: Netflix spurs further redevelopment plans for Eatontown's downtown