‘Netflix Effect’ Resurrects ‘Apocalyptic’ Abandoned Lot With New Homes

Residents who have driven down Pinebrook Road in Eatontown, NJ, have watched a part of the street slowly decay over the past 20 years.

But all of that has changed. 

On Wednesday, developers broke ground and officially launched The Premiere at Monmouth, a new-home community within driving distance of the future site of the Netflix Studios East campus, a 292-acre production facility opening in 2028.

The facility is expected to bring a significant amount of jobs to the region, as well as an influx of new business opportunities to support the “Hollywood of the East.”

As Eatontown prepares for this unprecedented growth, this new housing development marks a crucial first step in building the housing stock considered necessary to support it.

Fort Monmouth’s transformation

In 2025, Netflix broke ground on a $1 billion project to transform the former U.S. Army installation in Fort Monmouth, NJ, into a premier East Coast production hub. 

The development will feature 12 cutting-edge sound stages totaling nearly 500,000 square feet, with additional areas dedicated to supporting other production uses and community amenities.

Almost immediately after construction began, interest in real estate in the area began to rise, with homeowners eager to move in so they would be close to the action and opportunities to come. 

The influx has created a huge demand. One prime example of this: In May, NJ.com reported that a five-bedroom residence inLittle Silver, NJ, a 10-minute drive from Eatontown and Fort Monmouth, sold for $2.6 million—a whopping $500,000, or 24%, above its $2.1 million asking price.

In hopes that demand will grow as the studio inches closer to its opening day, developers are putting their money and crews to work.

Ready for something new?

Breaking ground on abandoned property

A 10-minute drive down the road from the future Netflix studio sits Howard Commons, a former Army housing site that has been left to rot, much like Fort Monmouth’s army base, for the past two decades.

Likened to an “apocalyptic-looking eyesore “ by local reporters, the borough and developer Lennar Corp entered into an agreement late last year for the construction of 275 new homes, a public park, grocery store, convenience store, and gas station, with a total investment of $70 million.

“We’ve worked with Fort Monmouth Economic Revitalization Authority since the early 2000s and recognized early the potential to revitalize this long-vacant site,” Dana Romano, New Jersey–New York Division President for Lennar tells Realtor.com®, adding that “Monmouth County is one of New Jersey’s most desirable places to live right now.” 

“For decades, the Howard Commons area of the former Fort Monmouth provided housing to hundreds of military families. Now, after many years of lying vacant, the Borough of Eatontown is ready to welcome new families to this area,” said Eatontown Mayor Anthony Talerico Jr. at the Oct. 21 ceremony. 

Romano shares with Realtor.com that interest in the properties has run the full gamut, “from first-time owners to families looking for more space,” interested both in the single-family home units, as well as townhomes and condos.

“The initial response has been incredibly positive, and as a result, VIP appointments will begin in late fall,” she shares. 

“People are drawn to the broader Fort Monmouth transformation and the new homes at The Premiere at Monmouth coming to life. As a former military base, this area offers a unique opportunity to honor history while creating a new community where homebuyers can pursue their own vision of the American dream.”

The Premiere at Monmouth is approximately a 10 minute drive from some of the Jersey Shore’s most beloved neighborhoods, like Asbury Park and Long Branch. It also is a quick ride to the Red Bank train station, which provides NJ Transit service and commuter routes to New York City. 

A bet on new construction

This new build comes at a time when new construction nationwide is experiencing some turbulence. 

New residential construction took a step backward in September, though permits fell just 0.2% below August levels and 3.0% below September 2025.

It’s a sign that builders are still optimistic for future projects once the current conditions of high mortgage rates and elevated construction costs subside. 

And yet, productions at the starting line or even in production are in trouble. Starts were down 5.2% month over month and 7.4% year over year while completions dropped 2.2% from last month and 14.0% from last year.

The post ‘Netflix Effect’ Resurrects ‘Apocalyptic’ Abandoned Lot With New Homes appeared first on New York Post.