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- Morris Bailey Announces $200M Mixed-Use Development Adjacent to Monmouth Park
Morris Bailey Announces $200M Mixed-Use Development Adjacent to Monmouth Park
Slice of Real Estate Team
September 04, 2024
Key Highlights:
Morris Bailey and JEMB Realty to develop an 80-acre, $200M mixed-use community near Monmouth Park Racetrack.
Project includes multi-family housing, a 200-key hotel, retail, entertainment, and youth sports facilities.
First phase in partnership with the State of New Jersey and Darby Development LLC, slated for Q4 2025 groundbreaking.
Source (PR Newswire)
Notable Quotes:
"Monmouth Park Racetrack is an iconic New Jersey attraction. We are thrilled to see this project move forward, which will bolster the local economy and ensure that the area is a popular destination for generations to come."
"We are embarking on the next phase of a journey that began over a decade ago when we developed plans to reimagine and reinvent the Monmouth Park experience."
Our Take:
Morris Bailey’s ambitious project represents a significant step in transforming Monmouth Park Racetrack into a premier mixed-use destination, blending his expertise in real estate development with a deep commitment to revitalizing New Jersey's iconic landmarks. This development promises to invigorate the local economy, create a vibrant community hub, and preserve the rich legacy of Monmouth Park, making it a model for future developments around historic sites. The phased approach ensures sustainable growth, aligning with long-term regional planning and community needs.