SHP, whose proposal was selected from among almost two dozen competitors, plans to turn the historic buildings into a business, hospitality, research and educational complex. The buildings, which include the distinctive yellow brick residences making up Officers Row and the massive Officers Club, were all built between the late 1870's and 1940. The site had been part of metro New York's coastal defenses from the Revolutionary War era until Fort Hancock was deactivated in the late 1960s.
A final lease agreement isn't expected to be signed until next summer at the earliest, pending an environmental review and public comment on the proposal. In the interim, the letter of intent has given the go-ahead for SHP to begin to line up financing for the project, which is expected to cost as much as $60 million.
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